Indosuez Wealth Management, the private banking arm of France’s second-largest bank Credit Agricole, said yesterday it has completed its acquisition of Credit Industriel et Commercial’s (CIC) private banking business in Singapore and Hong Kong, having received approvals from the Singapore High Court and the Securities and Futures Commission of Hong Kong.
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.
Singapore’s largest bank said it had hoovered up the private bank and retail operations in Singapore of a New Zealand-based rival which has elected to leave Asia.
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.
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