In addition to lower market valuations, Vontobel's institutional clients remain cautious about new investments. But wealth management was a bright spot.
The Zurich-based investment house is closing its office in Hong Kong. It will be transferring its private clients to a competitor from Liechtenstein, as finews.asia revealed last July already.
China was the only major market to record an increase in its ultra-rich population, according to a recent wealth report, contrasting with a broader global decline driven by a myriad of macro headwinds.
Credit Suisse will look to improve organizational agility in its Asia Pacific wealth management business by flattening its structure with key changes to top managers.
Julius Baer will seek to further expand its reach in Northern India with the hire of an onshore team of relationship managers.
UBP has reshuffled its top leadership in the region with new appointments to lead the North and South Asia business.
At the end of the week, Credit Suisse will completely liquidate the first of four closed Greensill funds, finews.asia has learned. Investors will get their assets back, but there is a special twist.
Binance has withdrawn from a deal that would rescue FTX just one day after founder Changpeng Zhao signed a non-binding acquisition agreement.
Goldman Sachs has released its biennial list of newly elevated partners which included a handful of individuals in Asia Pacific.
We always strive to keep our content relevant based on competent and credible journalism, finews.asia Founder Claude Baumann says in an interview with fundplat.com. We now have more than 300,000 unique users a month, which means we have a considerable readership in...
The last three years have destroyed a lot of goodwill at the Swiss-based banking software company Temenos. That has activist shareholder Petrus Advisers calling for a radical overhaul and sending heads rolling.
Nearly half of banks in Singapore cited legacy tech as a major hurdle to the digital transformation of their businesses, according to a recent study, impacting both internal operations as well as client experience.
Canadian private bank RBC Wealth Management has announced the appointment of a chief operating officer for its Asian unit.
Sun Life has announced the appointment of a general manager in Hong Kong to oversee the Canadian insurer's agency channels.
Billionaire wealth in China fell in the past year, according to the Hurun Rich List 2022, due to the Russia-Ukraine conflict, a drop in tech share prices and a slow post-Covid economic recovery.
In an unusual sequence of events, a social media spat about liquidity worries between Binance and FTX quickly led the former to issue an agreement to acquire the latter. Now, there are concerns about regulatory risks from the proceedings.
Terraform Labs co-founder Do Kwon is facing a multi-million dollar lawsuit in Singapore over his alleged role in the crash of its stablecoin.
Crypto billionaire Changpeng Zhao shocked the industry with an agreement to buy FTX.com, following an exchange of social media posts regarding liquidity concerns.
The Saudis and Qataris are not the only ones injecting capital into Credit Suisse. It is rumored a Swiss group also wants in and in a big way. But the trail is murky.
Standard Chartered will take a close look at potential crypto opportunities for the retail market in Hong Kong after the city unveiled its digital asset ambitions last week.
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