Top Headlines in the Last 7 Days
(10th – 16th Apr 2017)
No. 1 EFG International Complete Integration of BSI Swiss Business
EFG International has announced that it has completed the legal integration of BSI SA’s Swiss business into EFG Bank AG.
All of BSI SA’s Swiss business has been transferred to EFG Bank AG by way of an asset transfer pursuant to the Swiss Merger Act. Learn More …
No. 2 DBS to Boost Private Banking in London
DBS recently obtained a UK securities licence and is now looking at adding staff in London as part of its plans focused on the greater China market.
DBS aims to add three more relationship managers in London and plans to double the headcount again next year. Learn More …
No. 3 Hong Kong Monetary Authority Fines Coutts & Co AG
The Hong Kong Monetary Authority has fined Coutts & Co AG for breaching five provisions of the Anti-Money Laundering and Counter Terrorist Financing (Financial Institutions) Ordinance.
It has also asked Coutts Hong Kong to pay a fine of 7 million HKD dollars. Learn More …
No. 4 Asia’s Big Private Banks Increase Assets Under Management
According to Asian Private Banker, assets managed by the regions’ top 20 private banks grew by 6.1% to $1.55 trillion in 2016.
The increase in assets under management was partly due to Bank of Singapore’s purchase of Barclays Plc’s wealth-management units in Singapore and Hong Kong and Union Bancaire Privee’s acquisition of Coutts International. Learn More …
No. 5 Deutsche Bank Appoints New CEO of Australia Operations
Anthony Miller has been appointed as Chief Executive of Australia operations to replace retiring CEO Michael Ormaechea.
Before the appointment, Miller was a partner at Goldman Sachs based in Hong Kong and co-head of the financing group for Asia-Pacific within the investment banking division. Learn More …
No. 6 New Group Head in Julius Baer Southeast Asia
Magdalene Low who joined Julius Baer as Team Head will take up the role as Group Head of Southeast Asian team, based in Singapore.
Magdalene was an Executive Director at UBS prior to joining Julius Baer and headed the Singapore onshore team in UBS. Learn More …
No. 7 Credit Suisse Asset Management Hires Ex-BlackRock Personnel
Credit Suisse Asset Management (CSAM) has hired Christina Kautzky as Head of Third Party Distribution for Asia except Japan.
She will be in charge of building CSAM relationships with third party private banks in Asia. Learn More …
No. 8 UBP Hires Market Head for Greater China
UBP has recruited Jonathan Lin in Hong Kong and he will take on the role of Market Head, Greater China. He will report to Eric Morin, Head of North Asia.
Jonathan was Head of Private Banking North Asia at BSI before joining UBP. Learn More …
No. 9 Lombard International Announces 2016 Results
Lombard International, one of the global leaders in wealth structuring solutions for high net worth investors announced its financial results for 2016.
In 2016, total new business premium was at €4.5 billion, which was a new record in the company’s history. Total assets under administration grew by 8% from €72.0 billion in 2015 to €77.5 billion (as of 31 Dec 2016). Learn More …
No. 10 First Names Group Appoints Managing Director in Hong Kong
First Names Group has appointed Stuart Dowding as Managing Director of the Hong Kong operations.
Stuart has 25 years of experience in the fiduciary industry and works with a number of high net worth individuals on projects including large property portfolios for investment and development. Learn More …
April 2017 Headlines
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