The firm has made a number of hires over the last two months to expand its South Asia operation. Standard Chartered Private Bank has expanded its global South Asia private banking operation with a number of hires over the past few months, all based in Singapore.
Bharath Shetty was hired as managing director and team head in June, Gagan Mehorotra was appointed as executive director in May, Apurva Kothari and Deepak KV were both appointed managing directors in June, and lastly, Komal Syal was hired as a managing director in early July, the firm said in a statement.
In the race to lure talent for global firms’ regional headquarters, Hong Kong and Singapore have long been neck-and-neck. While many companies make their managers locate in one or the other city — often depending on whether their duties focus more on Southeast Asia, or on China — others give top talent a choice.
Published by WealthBriefingAsia – 5th December 2016
Private banks in Asia want to grow annuity income at a time when reliance on transactional revenues is harder to justify as cost/income ratios are high. But access to funds requires a battle for talent and new ideas on where to find the right people, so this report says.
Published by Wealthbriefing Asia – 27th October 2016
A prominent executive search firm working in the Asia-Pacific region talks to this news service about what the Indonesian tax amnesty means for private bankers and wealth managers in Singapore and the wider region.
As the Indonesia tax amnesty moves into its second phase, having finished its first round at the start of October, Singapore-based bankers focused on the Indonesia market continue to wrestle with future strategy.
“There has been a significant decline in the transnational volume [of business] coming from Indonesian clients at the moment,” Danny Jones, founding partner at Huddleston Jones, told this publication in a recent interview at his offices in Singapore.
Published by Huddleston Jones – Wednesday 31st August 2016
According to reports published by Asian Private Banker [Link], “ABN AMRO Private Banking has made further staff cuts in Asia, including to its Singapore-based international clients team. However, Hans Hanegraaf, country executive ABN AMRO Singapore and head of private banking Asia & Middle East, tells Asian Private Banker that the changes are an inevitable outcome of difficult market conditions and strategic refinement, and that the bank is now focusing on its core strengths in the region.“
Published by Finews Asia – Thursday 25th August 2016
The Hong Kong Securities and Futures Commission has fined Morgan Stanley Hong Kong Securities for internal control failures between 2010 and March 2016.
The Securities and Futures Commission (SFC) said it has resolved its concerns with Morgan Stanley Hong Kong Securities (MSHK) over its internal control failures. Under the resolution, the SFC reprimanded and fined MSHK $18.5 million
BGC Partners, Inc. a global brokerage conglomerate has reported that Chief Financial Officer Graham Sadler will be relinquishing his role and stepping down, but will remain with the firm until a succession candidate is located.
Mr. Sadler has been with BGC and Cantor Fitzgerald since 2008, having served as its CFO in both the European and Asian markets. He received a promotion back in 2009 to CFO for BGC’s global operations. Presently the brokerage has not decided on a succession candidate, promoting Mr. Sadler to remain until BGC’s next CFO is determined.