Following an investigation, the Australian financial regulator has imposed additional conditions on the Australian financial services licence of Macquarie Bank.
Yak Yew Chee, probably the most prominent and surely best paid employee at Swiss BSI Bank in Singapore, left the company in February, according to the firm. He had been the relationship manager for the opaque 1MDB government fund of Malaysia.
Falcon, the private bank in the middle of the allegations about embezzled money from Malaysia, maintains that the transactions using its accounts were clean.
Swiss asset managers are less expensive to buy than foreign rivals. Smaller banks tend to pay more for their acquisitions than bigger ones because they are under greater pressure to act.
It looks like déjà vu all over again as the Financial Services Agency in Japan warns on the sale of complicated funds that charge high fees to clients who may not comprehend the potential risks.
International financial services group Manulife has announced the appointment of a Chief Marketing and Experience Design Officer for Asia, and a Chief Distribution Officer for the region.
Global action house Bonhams has appointed a new Executive Director, Asia and a new Head of Modern & Contemporary Art, Asia. The moves come shortly after the former deputy chairman in Asia was sacked.
Falcon Private Bank finally will be able to serve its clients where they are. The company, controlled by the Emirate of Abu Dhabi has received a banking license in the region.
Patrick Odier, a managing partner at Lombard Odier private bank, is keeping a close eye on the consolidation in banking. He has the necessary capital to make an acquisition but doesn't rule out alliances with independent wealth managers either. In an interview...
Lombard Odier private bank last year made the best out of a difficult situation and maintained the level of profitability achieved in the year-earlier period. The private bank also received new money in all its business segments.
Prudential Group Investment Management has completed its acquisition of Deutsche Bank’s Indian asset management business through its Mumbai-based affiliate.
Singapore’s largest bank DBS has rewarded the regional head of its mass affluent business by promoting and relocating him to Hong Kong to head up the consumer and wealth management in the city.
Cazenove Capital Management has appointed a new Head of Wealth Management in Singapore, revealed by finews.asia.
Investing in Iran may become en vogue in the banking industry after the end of the sanction regime. Clemente Cappello, head of Sturgeon Capital, knows how it is done.
Standard Chartered Bank has launched its digital tablet-based sales-and-service tool that «brings the bank» to clients.
With the integration of EFG International and BSI, their respective businesses in Eastern Europe will likely be merged. The managers of the two units have a common past but hardly a common future.
Last month finews.asia reported that Tim Leissner relocated to Los Angeles from Singapore and had subsequently left the bank.
Like the continual movement of tectonic plates, the management organigram at Australian bank ANZ has shifted once again just days after the wealth management unit was revamped.
The newly formed alliance between EFG International and BSI Bank appears to have claimed its first high profile victim.
Oswald J. Gruebel, the wise old man of Swiss banking, is set to replace Urs Rohner as chairman of Credit Suisse. That's at least what bankers are telling each other in the bars of Zurich's banking district.
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