Profits and assets under management took a major beating at UBS’ Asia Pacific wealth business in the first quarter of 2022, reflecting significant de-risking in the region.
Switzerland’s largest bank UBS has so far weathered multiple first quarter headwinds, turning its best quarterly net profit in over a decade.
Profits at HSBC fell in the first quarter due partly to higher expected credit losses from the ongoing Russia-Ukraine war.
Singapore banks’ first-quarter results appear set to show a tug-of-war between higher interest rates and global market turmoil.
Norway's sovereign wealth fund joins calls for a special audit into Credit Suisse.
J.P. Morgan has moved into a new Swiss headquarters in the heart of Geneva's banking district at a time when other banks are leaving the city by the Rhone.
In an effort to comply with European sanctions against Russia due to its attack on Ukraine, a few Swiss financial institutions have overshot the mark.
Beijing has announced that China Merchants Bank’s ex-CEO Tian Huiyu, who unexpectedly stepped down following a share sell-off, is under investigation by the nation’s top anti-corruption agency.
Cryptocurrencies are likely in the early stages of a two-decade-long trend of adoption, Daiwa says in a research report.
It is one of the most spectacular personnel changes in recent Swiss banking history. Credit Suisse's general counsel departs with a renowned successor waiting in the wings.
Despite their gargantuan budgets and networks, banks still lack the know-how to be technology leaders, according to Saxo Market’s Asia chief Adam Reynolds on why digital wealth offerings are still lagging.
OCBC Bank links up with digital MetaVerse Green Exchange (MVGX) to develop green financing using tokenized carbon credits.
Julius Baer strengthens its Greater China client coverage in Singapore with the hire of a former UOB team head.
Saxo Markets has launched a new digital wealth management offering in Singapore, calls it «the most important innovation» in personal finance over the last 30 years.
Wealth-management fintech iFAST Corp. posts a weak first quarter on dreary global market conditions.
Credit Suisse is reportedly considering shaking up its senior management team to stabilize the loss-making bank, with plans to potentially let go of top leaders including Asia chief Helman Sitohang.
Credit card companies are not losing market share in payments to fintechs, but banks are, writes Rolando Grandi in a comment for finews.first.
Chinese property troubles persist and have now affected Singaporean lender OCBC which has filed a legal claim against developer Shimao regarding repayment for a revolving credit facility.
China has launched its first private pension program for the country’s workers, opening the door for foreign insurers and asset managers, «Reuters» reported Thursday.
Papa New Guinea Prime Minister James Marape has called out UBS for its role in a costly oil loan, supporting a recent recommendation from a commission of inquiry for a 10-year ban.
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