Singapore’s Fullerton Fund Management (Fullerton), controlled by Temasek Holding, the city state’s sovereign wealth fund, would become one of the largest asset managers in Southeast Asia if speculation of its merger with NTUC Income becomes a reality.
Published by Asia Asset Management – 28th Aug 2017
In early June, the Malaysian market was abuzz with news of a proposed merger between AMMB Holdings, the parent company of AmBank, and RHB Banking Group (RHB). The deal would have created the largest fund manager, by AUM, in the country, AmBank’s Group Chief Executive Officer Sulaiman Tahir said at the time.
ZURICH (Reuters) – Switzerland’s EFG International (EFGN.S) and Brazil’s BTG Pactual (BPAC3.SA) have struck a deal on the final price for BSI Bank at just under 1 billion Swiss francs ($1.04 billion), after billions in outflows at BSI had pushed down the value of the transaction.
Credit Agricole’s Indosuez Wealth Management arm has signed a deal to buy the Singapore and Hong Kong private banking businesses of French rival Credit Industriel & Commercial (CIC), CIC said on Thursday.
KUALA LUMPUR/ABU DHABI: Australia and New Zealand Banking Group is near a deal to sell its Malaysian banking stake to a pension fund and exit the Southeast Asian nation, sources familiar with the matter said, in a transaction that could be worth around $900 million.
Published by Asia Asset Management – 3rd July 2017
Aberdeen Asset Management (Aberdeen) will acquire Taipei-based asset manager Value Partners Concord Asset Management (VPCAM) from its shareholders, including Value Partners Group and Concord Securities Co, for an undisclosed sum in a move that will allow the Scottish company to access the island state’s onshore fund market.
Further wealth management consolidation is about to take place in Asia with news that Indosuez Wealth Management has entered into exclusive discussions to acquire the private banking units of Credit Industriel et Commercial in Singapore and Hong Kong.
The acquisition of ABN Amro’s private banking units in Singapore and Hong Kong by Liechtenstein’s LGT seems to have gone through without much pain. For some senior ABN Amro bankers though it has meant no gain.