The world’s first bionic advisor designed for the high-net-worth market has been launched by Singapore-based advisory firm Bento. So how does it work?
Chinese authorities will allocate a designated area in Shenzhen's Qianhai free trade zone for about 150 wealth management firms which are expected to set up shop there over the next two years.
The Commonwealth Bank of Australia has announced that its Chairman David Turner will retire from the Board at the end of December 2016.
Trust services provider Equiom has acquired The Heritage Trust Group, an Asian corporate services firm with offices in Singapore, Hong Kong and the British Virgin Islands.
Credit Suisse has made a senior appointment to its Investment Banking and Capital Markets team in China, a strategically critical market for the Swiss bank.
FXecosystem, a provider of FX outsourced connectivity services, has announced the opening of its regional headquarters in Singapore and a point of presence in the Equinix Singapore data centre.
As trade based money laundering becomes a growing global problem a new solution offering holistic risk management of trade finance is hoping to solve the problem. So how does it work?
Falcon Private bank is the second firm to be shut down in Singapore for its dealings with 1MDB, which stands accused of corruption and money-laundering. It is the second blot against the signet of Swiss banking in Asia.
Falcon Private Bank is looking for buyers for its Asian activities, after its license to operate as a bank in Singapore was yanked for its involvement with alleged corruption and money-laundering for Malaysia's 1MDB.
Deutsche Bank has appointed a stand-in for Ravi Raju, the head of its Asian business who defected to rival UBS and took a key banker with him.
Falcon Private Bank's dealings with Malaysian state fund 1MDB reveal the bank threw caution to the wind and using sloppy methods in its dealings. Warnings from staff were dismissed out of hand.
Julius Baer is replacing the head of its activities in the Middle East. The current head, who was in the job for just two years, is moving to Abu Dhabi to spur growth in the emirate.
Singapore's financial regulator has penalised banks for doing business with Malaysian state fund 1MDB, which is at the center of a money-laundering investigation. Swiss bank UBS is guilty of 13 violations.
Julius Baer continues to bulk up its Asian teams with news that three former Credit Suisse bankers have moved to strengthen the banks coverage of the Philippine and Thai markets.
DBS, the local bank caught up in the Monetary Authority of Singapore ruling over the fund flows of the Malaysian wealth fund 1MDB, has been quick to issue a statement in response to the fine and censure it received.
The Singapore regulator has imposed financial penalties on Singapore's largest bank DBS and on Zurich-based UBS. Both banks have also been told to appoint an independent party rectification measures.
The Monetary Authority of Singapore is withdrawing the merchant bank status of Falcon Private Bank, Singapore Branch. In addition the Singapore Branch Manager, Jens Sturzenegger, was arrested on 5 October.
UBS Chief Executive Sergio Ermotti is coy about whether the Swiss bank would bid for Deutsche Bank's asset management division it it came up for partial sale. But the industry is changing.
Property broker Tranio.com, in cooperation with the Spear’s Russia magazine, has completed a survey of forty-five private bankers to find out what countries Russian HNWIs immigrate to most often and why.
Singapore is bringing criminal charges against two former senior private bankers of Banca della Svizzera Italiana, or BSI, in connection with 1MDB. The bank was shut down by regulators earlier this year.
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