Credit Suisse’s turnaround clouded by tax probe

Published by The Straits Times – 4th April 2017

ZURICH • Just when he thought the worst was behind him, Mr Tidjane Thiam is facing another potential blow to a turnaround plan that is less than two years old.

Published by The Business Times – 27th February 2017 

The Monetary Authority of Singapore has formed a Corporate Governance Council to review the Code of Corporate Governance. It will be chaired by former chairman of the Singapore Exchange (SGX), Chew Choon Seng.

The CG Code was last reviewed in 2012, when changes were introduced to strengthen board independence and enhance remuneration practices and disclosures, said MAS in a statement issued on Monday.

Published by Finews.asia – 22 February 2017

Two former foreign exchange traders who deceived HSBC and Deutsche Bank with spurious trades, have been sentenced to jail in Singapore.

Published by The Business Times – 6th February 2017 

Bank of Singapore announced on Monday that it has entered into a first-of-its-kind strategic cooperation agreement with Swiss banking group, Bank Vontobel AG.

This arrangement will allow its Asian ultra-high and high net worth clients to open an account with Vontobel to place their assets in the Swiss wealth manager’s Zurich booking centre. Clients will have the option of choosing Vontobel or Bank of Singapore to manage their assets booked in Zurich.

Published by Bloomberg – 6th January 2017 

He was the leader of one of the largest mass defections in private banking history, with more than 100 staff following him from RBS Coutts Bank Ltd. in the thick of the global credit crisis to create a financial phenomenon in Singapore at a little-known Swiss bank.

Hanspeter Brunner, together with former deputy Raj Sriram and chief operating officer Gary Tucker, were the kernel of a plan by BSI SA, founded in 1873 in Lugano, to build up a $10 billion wealth-management business serving the burgeoning ranks of Asia’s millionaires.

Published by Reuters – 5th January 2017 

Singapore has asked financial institutions to establish the tax residency status of all their account holders and report some of the financial data to authorities, as new rules on financial data sharing kick in to fight tax evasion.