All three Singapore banks – DBS, UOB and OCBC – reported drops in their first quarter earnings as wealth management took a hit.
UBS will reportedly replace its China country head, marking yet another global bank with exiting senior executives in their mainland business.
Deutsche Bank will strengthen its wealth capabilities in Asia with the appointment of a new regional head of discretionary portfolio management.
Manulife Investment Management has announced the appointment of a new head of transactions and portfolio management for its real estate unit in the region.
Australia’s AMP entered a deal to sell Collimate Capital’s international infrastructure business, opting to divest instead of demerge its asset-management unit.
Despite stronger global results, Standard Chartered registered a drop in Asia profits which it attributed to headwinds from China and Sri Lanka.
Fuelled by rising rates, Standard Chartered navigated through a difficult environment to register an increase in first quarter profits and beat market expectations.
Money transfer player Nium has entered a deal to acquire Socash, a platform for turning cash into digital payments.
Archegos founder Bill Hwang pleaded not guilty to a series of charges by U.S. authorities, including fraud and racketeering, after being arrested on Wednesday morning.
Behind the bank’s first-quarter losses are dwindling business units with some only running on half the steam they had a year ago.
Softer markets and an equity slowdown – most notably from China’s property and tech sector – weighed down on Credit Suisse’s first quarter performance in Asia Pacific, sources told finews.asia.
Credit Suisse’s Asia Pacific unit saw assets under management overall slip in the first quarter despite positive net inflows, amid ongoing turbulence from markets in the region.
The year that should have hailed transition at Credit Suisse, looks like it is turning into more of the same as results were worse than expected.
Credit Suisse has announced a series of appointments to its executive board in a widely anticipated senior management overhaul.
Japan’s Sumitomo Mitsui Banking Corporation strengthens its structured finance unit in Asia Pacific with the appointment of a head of mergers and acquisitions advisory.
J.P. Morgan Asset Management appoints a former AllianceBernstein fixed-income investment to its Asia unit.
Credit Suisse is reportedly expected to name a new Asia Pacific chief executive to replace Helman Sitohang, who has held the role since 2015.
The strong first-quarter performance renders them outdated – a month after they were revised.
While investors in Asia – such as Hongkongers – are relatively late to the world of sustainable investing, they could benefit from more mature regulations such as better anti-greenwashing rules, according to Pictet Asset Management.
HSBC’s profit in Asia fell more than a quarter in the first three months of 2022 as stringent Covid restrictions limited activities in the region.
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