Banking & Private Wealth Management Blog

BOC Hong Kong Unveils Family Securities Account For Wealth Management Clients

Bank of China Hong Kong has launched a new wealth management product that addresses personal and family financial needs of …

United Overseas Bank Terminates Joint Venture Deals With Malaysia's OSK/RHB Group

United Overseas Bank, the Singapore-headquartered financial services firm, has terminated several of its joint venture partnerships …

Ex-Citi / UBS trader in court, SocGen's Kerviel rebuffed (again)

Tom Hayes, the former Citi and UBS trader at the centre of a global investigation into manipulation of Libor, will indicate …

Italian Asset Manager Partners With Taiwan Firm To Target The Affluent, HNWIs

Azimut, the Italian asset management firm, has partnered with Taiwan's An Ping Investment to distribute the former's products …

Pictet Confirms Appointment Of Former Julius Baer Manager In Hong Kong

Christopher Todd Burgess has been appointed by Swiss bank Pictet as a managing director in Hong Kong, this publication can …

FHFA Said to Seek $6 Billion Minimum in JPMorgan Talks

A U.S. housing regulator is seeking at least $6 billion from JPMorgan Chase & Co. (JPM) to settle civil claims the bank sold …

Shake-up looms in Singapore banking, wealth managers warn

Intense competition, a tendency for wealthy Asians to use multiple private bankers and high staff costs are likely to force …

Australia's Plan B acquisition lifts IOOF’s results, Kelaher gets pay rise

Diversified financial services business IOOF Holdings has markedly improved its performance for the 2012/2013 financial year …

UOBAM Thailand eyes top-five status

UOB Asset Management plans to increase assets under management (AUM) by 20-30% per year to achieve its goal ofbreaking the …

Damn you, Excel spreadsheets, JP Morgan Chase edition

The US Securities and Exchange Commission’s investigation into JP Morgan Chase’s hiring practices in Asia took a more serious …

FCA to scrutinise wealth managers' business models

The Financial Conduct Authority (FCA) is set to examine wealth managers' and private banks' business models as it establishes …

UBP to shed 300 jobs after Lloyds unit purchase - sources

Union Bancaire Privee (UBP) plans to cut around 300 jobs from the international private banking arm of Lloyds Banking Group …

Private banker based in Red Bank charged in gambling operation

Investigators are looking into whether a Red Bank (in the USA) based private banker used his employer to launder money from …

Mitsubishi UFJ Gets A Foot In The Door On Offer To Control Thailand's Bank of Ayudhya

Mitsubishi UFJ Financial, the Japanese banking group, has agreed to acquire a controlling stake in Thailand's Bank of Ayudhya …

Swiss bank Mirabaud joins limited liability club

Swiss private bank Mirabaud plans to reposition itself as a limited partnership early next year, following the lead of two …

Coutts withdrawing from Cayman

Coutts, the private banking arm of Royal Bank of Scotland, has announced it intends to sell its remaining trust business in …

BBVA Compass Names Head Of New Wealth, Retail Banking Group

BBVA Compass has named William Helms, who previously led the firm’s wealth management business, as vice chairman of the board …

Private banks exit Switzerland, assets dropped to CHF870.7 billion

The Association of Foreign Banks in Switzerland's data exhibited a decline in foreign-owned Swiss banks. 145 banks were listed …

Bank of China Hong Kong Asset Management Expands Wealth Creation Series Offering

Bank of China Hong Kong Asset Management has expanded its range of wealth management products with the launch of a new fund.


FCA Still Finding Fault With AML Controls At Banks In UK

Banks are still too trusting towards individuals when looking into their sources of wealth despite the rash of recent coverage …

Ex-DBS Banker Takes Up CEO Post At Hong Leong Bank

Hong Leong Bank, the Malaysian lender, has named a former DBS Group executive as its new chief executive effective 1 July …

Two Senior UBS Managers In Asia-Pacific Promoted

Two senior UBS managers, Allen Lo, chief executive of UBS Wealth Management Hong Kong and Amy Lo, head of Ultra High Net Worth, …

Sarasin Alpen to close Omani operation?

Sarasin Alpen operates in Oman under licence from the Capital Market Authority (CMA), offering private banking services to …

Dutch Private Bank Hires Team For North Asia

ABN AMRO Private Banking has bolstered its commitment to growing in North Asia with new senior hires.


Angela Wu has been …

Manulife Japan Poised To Launch Asia and Oceania-Focused Investment Trust Fund

Manulife Investments Japan, the local subsidiary of Canadian financial services firm Manulife Financial, is set to launch …

Biggest Banks Face Moody’s Cuts as U.S. Support Ebbs

Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM) are among banks whose debt ratings may be cut by Moody’s Investors …

Wealth management opens doors for banks

The rise of China's middle-class has triggered demand for customized wealth management services, providing opportunities for …

Switzerland charges man with selling bank's client data to Germany

Swiss prosecutors have charged a German IT expert with selling client data from private bank Julius Baer in Zurich to the …

Regulators to impose 'Whale' fines on JP Morgan

U.K. and U.S. regulators are preparing to impose fines as soon as mid-September on JPMorgan Chase & Co. (JPM) after an investigation …

Canada's RBC aims to double assets under management in Asia

The wealth management division of Royal Bank of Canada aims to double assets under management in Asia within the next five …

Multi-Family Office's Singapore Arm Registers With MAS As Registered Fund Management Company

The Singapore arm of UK-headquartered multi-family office SandAire has been registered with the Monetary Authority of Singapore …

India Moves Against Mis-Selling Of Wealth Management Products

India’s central bank and financial regulator is proposing rules to prevent mis-selling of wealth management products, such …

FATCA Compliance Still A Concern Among Asset Managers

Asset managers continue to be challenged by the “lack of consistency” and “uncertainty” around the Foreign Account Tax Compliance …

Credit Suisse moving tech banking head Wah to Silicon Valley

Credit Suisse Group AG (CSGN.VX) is moving the global co-head of its technology, media and telecom group to San Francisco …

Smith & Williamson Offers DFM Models On Novia Platform

Smith & Williamson Investment Management has made six of its discretionary models available on the Novia platform.


The six …

UBS Says May Appeal Punishment By French Regulator Over "Lax" Controls

UBS said it was considering whether to appeal a decision by France’s Prudential Supervisory Authority to fine it €10 million (…

China CITIC Launches Gold And Trading Platform For HNW Individuals

China CITIC Bank, the Hong Kong-headquartered international bank, has launched a new foreign exchange and gold trading platform …

BNP Paribas Adds Three To China Wealth Management Team

BNP Paribas, the French banking giant, has beefed up its China wealth management team with three hires in Hong Kong.


As earlier …

Falcon Private Bank Goes Shopping Again In New M&A Deal

Falcon Private Bank, the Swiss-based firm, has agreed to buy the Central and Eastern Europe private banking business of Hyposwiss …

Former Bank of America employee charged with stealing $6 million from friends, family, customers

A former personal banker with Bank of America’s Reading branch was indicted Monday for allegedly running a Ponzi-like scheme, …

Economists Tackle Puzzle of Libor Losses for Investors

Paula Ramada, who has a doctorate in economics from the Massachusetts Institute of Technology, says she can calculate how …

NAB, BNY Mellon Strengthen Asset Servicing Alliance

National Australia Bank has strengthened its alliance with BNY Mellon to offer a wider range of asset servicing products and …

Morgan Stanley Analyst Swaps Research for Home Rehabs

Oliver Chang quit his job as head of housing strategy at Morgan Stanley last year to follow his own advice and invest in distressed …

Zombie Funds Sucking On $116 Billion In Assets: Preqin

Apparently it is not just World War Z where ferocious zombies suck the blood out of innocent bystanders—I don’t know the plot, …

US States Lack Women Financial Advisors Where They Are Needed Most - New Data

The presence of women financial advisors does not match current market potential represented by single women investors in …

Wealth management: An offer rich families cannot refuse

Disappointed with the poor performance of portfolios handled by Swiss and global private banks since the turn of the millennium, …

Man Group Announces CEO For Australia

Man Group, the UK-headquartered alternative investment management business, has named a new chief executive for its Australian …

HSBC Sues Safra For Employee Poaching

A unit of the major UK/Hong Kong-listed bank, HSBC, is suing Safra National Bank of New York for allegedly poaching seven …

US Awaits Supreme Court's "Game Changing" Decision On Same-Sex Marriages

The US Supreme Court is deciding whether to upend the Defense of Marriage Act and allow same-sex marriage in a move - due …

UK wealth managers turn Americans away

American citizens living in the UK are struggling to get financial advice as private client and wealth managers turn away …

UBS and India? Sorry we wont be protecting and managing wealth for you in India..

UBS is to withdraw from the wealth management and commercial banking sectors in India, in a move highlighting the difficulties …

Aussies willing to trade personal data for bank security, says Infosys

Australian consumers want their banks to mine large volumes of their transaction information - so-called `Big Data' - to analyse …

QNB launches diamond-embedded credit card for VIP customers

QNB has launched the “first exclusive” diamond-embedded QNB Private World Elite MasterCard credit card in the Middle East …

Madoff trustee cannot sue big banks, U.S. court rules

The trustee seeking money for Bernard Madoff's victims suffered a big defeat as a federal appeals court rejected his bid to …

Mercer Launches New High-Volume Research, Monitoring Services.

Mercer, the global financial services consultancy, has developed two new high-volume services which will provide bespoke fund …

Former HSBC Advisor Receives Three-Year Suspension For Mis-Selling

The Hong Kong Monetary Authority, the jurisdiction's financial regulatory body, has imposed a three-year suspension on a former …

iShares Launches Columbia Capped ETF To Tap "New Brazil"

iShares, BlackRock's exchange-traded funds business, has launched a new iShares MSCI Colombia Capped ETF, complementing the …

More Americans Outside US Trying To Shed Citizenship As FATCA Bites

More than twice as many US expatriates are trying to renounce their citizenship since sweeping US legislation that tightens …

Iranian bank wins sanctions case in UK court

Bank Mellat, Iran’s largest private bank, has had a move by the British government to have sanctions held against it declared …

MAS reshuffles senior management

Singapore's financial regulator and de facto central bank is making several changes to its seniormanagement team, which will …

Taiwan Bank Rolls Out Calastone's Fund Automation Service

Union Bank of Taiwan, the Taiwan headquartered financial services group, has upgraded its offshore fund transaction processing …

Global core market spend to hit $10bn in 2017

Global spending on core banking technology is set for steady growth over the next four years, according to new research from …

Australia's NAB Identifies Staff Redundancies - Reports

National Australia Bank, one of Australia's "Big Four" banks, has laid off several of its wealth management staff in the past …

Ex-CIMB executive takes helm at UAE lender RAKBANK

National Bank of Ras al-Khaimah (RAKBANK) has appointed Peter England, previously a senior banker at Malaysia's CIMB Group, …

Emirates Investment Bank builds Arab art collection

Emirates Investment Bank, an independent private and investment banking boutique, has unveiled a private art collection which …

Former DBS China PB Head Joins BNY Mellon China As Country Executive

BNY Mellon, the US-based global investment firm, has named a country executive for its China operations.


Robert Kung takes …

UBS Wealth Management Americas Pilots Unconventional Advisor Training Scheme


UBS Wealth Management Americas has launched a pilot training programme for 50 prospective financial advisors, at a time when …

Deutsche Bank has appointed James McMurdo as chief executive officer of Australia and New Zealand

Deutsche Bank has appointed James McMurdo as chief executive officer of Australia and New Zealand, effective February 2014.


Internal probe at Bank of Ireland

AN inquiry is under way within Bank of Ireland's private banking division, as the bank's internal auditors investigate what …

Results released for the Professional Adviser International Fund & Product Awards 2013

PIMCO, Skandia International, Canada Life International, Zurich International Life and Aetna International were among the …

Manulife Financial Expands Hong Kong CEO's Role To Include Greater China

Manulife Financial, the Canadian asset management group, has bolstered its Greater China franchise with the appointment of …

Senior Banker Leaves CIMB Malaysia

Peter England, head of retail financial services at CIMB Malaysia, has left the bank, CIMB has confirmed to this publication. …

Majority of wealthy Canadians are self made: Study

Wealthy Canadians come from different backgrounds and have acquired wealth through various means, says a study by BMO Harris …

Luminaries Of Australia's Wealth Management Industry Honoured In Sydney

Luminaries of Australia’s private wealth industry have been honoured at the fifth annual Australian Private Banking and Wealth …

Credit Suisse Faces HK$1.6M Fine In Hong Kong

The Securities and Futures Commission, the financial regulatory body of Hong Kong, has fined Credit Suisse Securities for …

HSBC Shutters UK Investor Visa Service To New Clients


HSBC is closing its UK investor visa service, the UK-listed bank has confirmed to this publication, because very few clients …

On-Boarding Specialist Spreads Footprint In Asia, Switzerland


To sustain a high growth rate – 70 per cent last year – Zurich-headquartered-based client on-boarding specialist Appway has …

FinanceAsia's Private Bank Country Awards 2013, Day 1


FinanceAsia announces the winners of this year's Private Bank Country Awards for Achievement inIndia, the Philippines, Singapore …

ANZ Earns Top Ratings For Singapore Gold Facility


Australia and New Zealand Bank has become the highest-rated bank to establish a gold vault in Singapore following the successful …

Chinese Regulator Acknowledges Slowdown, But Says Liquidity Is Improving


The Chinese banking sector experienced a slowdown in the past months due to ongoing fears of a liquidity crunch from bad …

Top Priorities For Targeting Younger Clients


Among all the strategic challenges wealth managers are now grappling with, one subject continues to grab headlines and has …

Hong Kong Presents Huge Demand For Professional Expertise On RMB Products - Survey


As the Chinese Renminbi appreciated over the past three years, a majority of investors from Hong Kong regret they had not …

John Hancock Acquires Washington Wealth Manager


John Hancock, part of Manulife Financial, is acquiring Washington-based Symetra Investment Services from Symetra Financial …

RBS: Championship pay for a Premier League job


It may once have been traditional for senior bankers to be happy to sit around in the City and proudly compare just how much …

New Greater China Market Leader At Credit Suisse


Credit Suisse is reshuffling part of its senior management team in Asia, this publication understands.


With effect from …

Bond Salesman Who Wasn’t Reveals RBS Human Errors


KK Ho appeared out of nowhere last year on the Royal Bank of Scotland Group Plc’s London trading floor.

He had freshly printed …

RBS Names McEwan CEO as Operating Profit Drops; Shares Slip


Royal Bank of Scotland Group Plc, Britain’s biggest publicly owned lender, named the head of its U.K. consumer unit chief …

Offshore Banking Services Remain Popular With HNWIs


Despite offshore financial centres facing increased scrutiny and criticism in recent years, they still remain a firm choice …

More Asian HNWs enlisting private banks


Asian high net worth (HNW) investors are increasingly enlisting the services of private banks to manage their wealth, according …

Pre-Tax Profits Drop At HSBC's Private Bank; One-Off Factors Increase Decline


The global private banking arm of HSBC, the financial group currently in the midst of a cost-cutting programme, reported …

Satuit Targets Costs With Cloud-Based CRM Offering


Satuit Technologies has released a cloud-based client relationship management platform aimed at bringing down the cost of …

GCC private wealth surge


Despite concerns with the region's long-term sustainability portfolio, a recent report from the Boston Consulting Group reveals …

Deutsche Bank Launches Singapore Gold Vault That Can Hold 200 Tonnes


Deutsche Bank is opening a vault in Singapore that will be able to hold $9 billion of gold as it seeks to capture the rising …

Private banker must seek their inner geek


The heady days of the early tech boom seem to be back. Increasing amounts of cash are sloshing through the world’s Silicon …

Swiss stability anchors banks in choppy tax waters


The world's wealthy will continue to trust their fortunes to stable, neutral Switzerland even as a clampdown on tax evasion …

Australian Firm Launches Online, Self-Service Advisory Tool


Plum, the corporate superannuation provider of National Australia Bank's wealth division, has launched a new online tool …

Global Real Estate Firm Makes Foray Into Taiwan With New Office, Continues Asia Drive


Cushman & Wakefield, one of the world’s biggest property services firms, has opened its first office in Taipei as it expands …

Trader fired for bogus bonus – his 1st day!


Richard Lee, the ex-SAC Capital trader who pleaded guilty to insider trading last week, was fired from a rival hedge fund …

Nick Kalikajaros 2017