Top Headlines in the Last 7 Days
(30th Oct – 5th Nov 2017)
No. 1 Standard Chartered Announces Major Senior Management Changes
Karen Fawcett, CEO of Retail Banking and Group Head of Brand & Marketing will retire at the end of 2017. Ben Hung, Regional CEO Greater China & North Asia (GCNA) will be replacing Karen for the role of CEO of Retail Banking at the end of November 2017. The vacated responsibility of Group Head of Brand and Marketing will be assumed by Tracey McDermott, Group Head of Corporate, Public and Regulatory Affairs.
Anna Marrs, CEO for Commercial Banking and CEO for Private Banking and Wealth Management, had took on the role of Regional CEO in late 2016. She will transfer her Regional CEO responsibilities in two stages between now and the fourth quarter of 2018 to Judy Hsu, CEO, Singapore.
Judy Hsu, CEO Singapore, will take over responsibility for the ASEAN & South Asia (ASA) region in the fourth quarter of 2018. Learn More …
No. 2 Maybank Appoints Dr John Lee Hin Hock as New Singapore CEO
Maybank has appointed Dr John Lee Hin Hock who is currently Group Chief Risk Officer, as the new Chief Executive Officer of Maybank Singapore with effect from 1st December 2017. He takes over from Datuk Lim Hong Tat, the current CEO of Maybank Singapore and Group Head of Maybank’s Community Financial Services (CFS).
Dr John joined Maybank in 2011, holds Bachelor and PhD degrees in Economics from Monash University Australia. Prior, he held positions in financial services consulting and advisory, where he was a partner with KPMG Business Advisory for 13 years in Asia-Pacific. He was also with Amanah Merchant Bank and the Kuala Lumpur Options and Financial Futures Exchange (KLOFFE).
Gilbert Kohnke will be appointed Group Chief Risk Officer, taking over from Dr John Lee. Learn More …
No. 3 HSBC Private Banking Appoints New Market Heads
HSBC Private Banking has hired Alfred Low in Singapore as Market Head of North Asia ex-Hong Kong while Tse Yi Mun has been appointed as the Market Head for Hong Kong.
Alfred will cover China, Taiwan, Japan and the Philippines who have accounts in Singapore. Prior, he was Executive Director and Team Leader for Greater China at Credit Suisse Singapore, Director at UBS Singapore, and Citi Private Bank Singapore.
Yi Mun will oversee Hong Kong client accounts from Singapore. She joined HSBC in 2009, and has held held multiple roles including Senior Director and Desk Head of North Asia. Learn more …
No. 4 The World’s 500 Largest Asset Managers Managed $81.2 Trillion in 2016
The world’s largest 500 managers managed $81.2 trillion in 2016, representing a rise of 5.8% on the previous year, according to latest figures from Willis Towers Watson’s Global 500 research.
The top 20 largest asset managers managed $34.3 trillion in 2016. BlackRock is the largest, managing $5.1 trillion while the 2nd largest asset manager Vanguard manages $3.9 trillion. Learn More …
No. 5 Singapore’s First ETF Focusing on Singapore REITS Listed on Singapore Exchange
Singapore’s first Exchange-Traded Fund (ETF) that focuses on Singapore REITS was listed on Singapore Exchange on the 30th October 2017.
The fund, Lion-Phillip S-REIT ETF, debuted with more than $106 million in AUM is aimed at providing low-cost access to high-quality Singapore REITs that provide a sustainable stream of income, potential capital growth and portfolio diversification.
The ETF is jointly launched by Lion Global Investors and Phillip Capital Management. Learn More …
No. 6 MAS Issues Prohibition Orders Against Individuals for 1MDB-Related Breaches
The Monetary Authority of Singapore (MAS) has issued a 6 years Prohibition Orders (POs) against Mr Ang Wee Keng Kelvin and Mr Lee Chee Waiy, and notice of intention to issue a permanent PO (for life) against Mr Yeo Jiawei.
Mr Ang, a former representative of Maybank Kim Eng Securities Pte Ltd, was convicted of an offence under the Prevention of Corruption Act. Learn More …
No. 7 MAS Obtains Higher Civil Penalties Against Individuals for Unauthorised Share Trading
The Monetary Authority of Singapore (MAS) has successfully obtained higher civil penalties against Mr Wang Boon Heng and Ms Foo Jee Chin for contravening section 201(b) of the Securities and Futures Act (SFA), which prohibits any conduct that operates as a fraud or deception in connection with the subscription, purchase or sale of securities.
Mr Wang, then an undischarged bankrupt, had conducted share trading for his own benefit, in the name of Miss Foo and another person, without the consent or authorisation of DMG & Partners and UOB Kay Hian. Learn More …
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