Hong Kong’s financial secretary Paul Chan tested positive for Covid during a visit to Saudi Arabia, just days before the start of the city’s banking summit next week.
Asia Pacific registered the lowest amount of outflows for Credit Suisse across markets in the third quarter 2022, making it the lone region to record positive net new assets in 2022.
A slate of new appointments has been named for the relaunch of the CS First Boston brand. But there is also a prominent departure.
Credit Suisse has announced the appointment of a new chief compliance officer, succeeding Rafael Lopez Lorenzo.
Credit Suisse unveiled its long-awaited restructuring which includes the revival of the First Boston brand and a shrunken securitized products group.
The investment banking unit dragged Credit Suisse to a fourth consecutive quarterly loss. It intends to raise around 4 billion Swiss francs in capital and radically restructure the investment bank.
UBS continues to expand its ambitions in the region’s affluent market with the launch of a new digital wealth management platform in mainland China.
Deutsche Bank has hired a 20-year wealth management veteran to oversee its private banking business for South Asia clients out of the UK.
Commercial property firm JLL has announced the appointment of a head of capital markets for New Zealand.
At UBS, the focus on wealth management was born out of necessity during the financial crisis. One global crisis later, that strategy is helping it leave global competitors behind.
The city-state regulator proposes measures to curtail trading in cryptocurrencies by retail investors, requiring providers to ensure proper business conduct and risk disclosure.
High net worth insurance specialist Transamerica Life (Bermuda) has hired a chief operating and transformation officer in Hong Kong.
Profits at Standard Chartered rose due in part to a record third quarter for its financial markets unit and rising interest rates.
Baltimore-based asset manager T. Rowe Price has announced the appointment of a new head of distribution for Asia Pacific.
The founder of collapsed family office Archegos calls on a federal judge to dismiss a lawsuit over what he terms «entirely legitimate» practices.
Elon Musk’s acquisition drive for social media giant Twitter has even attracted interest in the financial industry in Asia with South Korea’s Mirae Asset reportedly planning to support financing for the deal.
In Australia, the head of equities trading at Credit Suisse has reportedly left. The departure is a further indication of the impending restructuring in the bank's investment banking division.
More than half of family offices and high net worth individuals in Hong Kong and Singapore have been investing in digital assets in recent years, according to a report co-published by KPMG, in yet another sign of continued adoption despite market volatility.
China-related issues were heavily featured in HSBC’s review of future risks in its latest quarterly financial results, including the strict zero-Covid policy which has no end in sight.
The global wealth management business posts net new fee-generating assets in the region but earnings and revenues fall on lower transaction income.
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