HSBC has agreed to sell its Russian unit to Moscow-based Expobank in hopes that the deal will not be blocked by local authorities over a new policy to prevent the sales of foreign banks’ businesses.
A court in Moscow is seeking to pry a large sum of money from Credit Suisse, leaving the bank caught between the fronts of Russia and the USA.
Chinese Communist Party representatives have likely always been in place at all key banks, including Swiss ones. The question now is whether they need full committees.
HSBC responded to reports about the formation of a Chinese Communist Party committee within its investment banking arm, noting that the bank does not track employees’ political affiliations nor do such groups have no business influence.
Electric vehicle giant Tesla has released nearly $1 billion of bitcoin into the market amid ongoing crypto turbulence but CEO Elon Musk said not to view the move as a verdict on the token.
EFG International saw net profits in the first half of 2022 surge, fuelled by the rising interest rate environment.
Swiss-based structured products provider says unprecedented market conditions drove strong performance in the first half.
BNP Paribas Wealth Management is positive on the Chinese market but it remains cautious on the internet sector, preferring to take a wait-and-see approach with regard to the regulatory landscape.
A former BNY Mellon executive has relocated from Boston to Singapore to join Prudential’s investment management arm for Asia, Eastspring Investments, to lead intermediary sales in the region.
China’s real estate crisis continues to escalate with suppliers to property developers reportedly joining the boycott to refuse loan payments.
Zurich-based Credit Suisse is transferring some clients to a local wealth manager as it streamlines its business in the region.
Franco Polloni would love to have a nonstop train line between Zurich and Lugano. Zurich, which is his second home, is a financial center with enormous dynamism, he told finews.asia in an interview.
Pressure is ramping up for the US and China to reach a deal to prevent some 200 companies from the latter from being booted from New York exchanges, with SEC chair Gary Gensler continuing to express limited confidence.
The Swiss-based investment house intends to drop wealthy private clients in Hong Kong in favor of other businesses, information received by finews.asia indicates.
The British-based lender receives approval from local authorities to establish a subsidiary in Taiwan.
China’s banking regulator called on the nation’s local lenders to support developers to complete unfinished housing projects, marking a potential turnaround for the property crisis.
Japan surpassed other nations to take the top spot as the best passport to hold, according to Henley & Partners, based on its accessibility to worldwide destinations.
AIA has named a successor to the role of chief partnership distribution officer in its Singapore unit.
A 28-year Standard Chartered veteran has been named the global head of the bank’s digital business.
Julius Baer bolsters its sales and advisory capabilities in the region with the hire of a former investment banker from HSBC, finews.asia has learned.
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