Credit Suisse sees more lending to the world’s wealthy

Published by Channel Newsasia – 2nd March 2017

ZURICH: Credit Suisse expects higher lending to the world’s wealthiest individuals will help its big bet on wealth management pay off.

Around a third of the 30.2 billion Swiss francs (US$29.8 billion) of net new assets taken in last year at its International Wealth Management (IWM) and Asia Pacific (APAC) divisions came via lending, according to Chief Financial Officer David Mathers, who believes this could go even higher.

Published by Finews.asia – 27th February 2017 

Asia and emerging markets focused Standard Chartered will not be issuing a dividend this year, after announcing pre-tax profits that failed to meet analysts’ expectations.

Chief Executive Bill Winters described the results as «good progress», but said the figures were still not up to scratch. In Asia, Hong Kong remained the largest contributor to Standard Chartered (SC) both by income and profits.

Published by Finews.asia – 24th February 2017 

A Canadian bank is the latest firm to think about pulling out of Asian private banking because of its sub-scale size.

Societe Generale and ANZ to DBS, Barclays Wealth to Bank of Singapore, Coutts to Union Bancaire Privee and most recently ABN Amro to LGT – the list of banks selling to larger rivals in Asia is growing.

Published by Finews.asia – 17th February 2017

Jho Low is ramping up his fight to get back assets like New York’s Park Lane Hotel and a Van Gogh artwork. Newly-installed trustees are striking a fiestier tone than previous steward, Swiss bank Rothschild.