Press

30 August 2016

Pimco to Hire 20 People to Target $17.4 Trillion Asian Wealth

Published by Bloomberg – Tuesday 30th August 2016

Pacific Investment Management Co. is seeking to expand in an increasingly affluent Asia.

The $1.5 trillion money manager is in the process of hiring more than 20 people in marketing, operations, legal and compliance teams in the next two years to help cover major retail banks in Hong Kong and Singapore. It also intends to target newer markets such as Thailand, Malaysia and the Philippines, according to Eric Mogelof, Hong Kong-based head for Asia Pacific at Pimco.

28 August 2016

Standard Chartered Private Bank Head Exits

Published by FinNews Asia – Sunday 28th August 2016

Standard Chartered’s head of Swiss private banking is set to depart after the bank shut down the unit last year, a source familiar with the matter told finews.asia. The British bank’s brand will disappear from the Geneva banking landscape next month. The trust business is going to be centralized in Singapore.

Mark Hirst,Standard Chartered’s head of private banking in Switzerland, will leave the bank towards year-end, a source familiar with his plans told finews.asia. His boss, Jeremy Parrish, had preceded him, defecting for Julius Baer in June.

26 August 2016

New Unit Head at HSBC Wealth Management

Published by Finews Asia – Friday 26th August 2016

Anurag Mathur, HSBC Singapore

HSBC Bank has appointed a new Head of its Retail Banking and Wealth Management business in Singapore. Earlier this year the London headquartered bank was considered to be one of seven domestic systemically important banks in Singapore which led to structural changes.

Taking up the new role Anurag Mathur will be responsible for driving and executing HSBC’s strategy for the Retail Banking and Wealth Management (RBWM) business in Singapore, the bank said in a statement.

25 August 2016

Singapore Regulator Keeps up Fintech Momentum

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

23 August 2016

Bank of Singapore Poaches From Credit Suisse for Philippines

Published by FinNews Asia – Tuesday 23rd August 2016

OCBC’s private banking unit, Bank of Singapore, poached two ultra-high net worth private bankers for the Philippines from Switzerland’s Credit Suisse. The Singapore-based bank hired Arthur Ooi as a managing director and team head along with Brandon Ho, named as a senior relationship manager and executive director.

Ho reports to Ooi, who in turn will report to Robin Heng, market head for Indonesia and the Philippines. Ooi and Ho will be based in Singapore. Ooi was most recently team leader at Credit Suisse for

22 August 2016

Indonesia’s tax amnesty programme below target in first month

Published by Channel News Asia – 22nd August 2016

Indonesia’s tax amnesty programme recorded around US$3.2 billion of declared assets during its first month of implementation, which was below its target of US$302 billion.

“These are still very small compared with our set targets,” said Finance Minister Sri Mulyani Indrawati in a press conference on Monday (Aug 22).

18 August 2016

EFG Asset Management Adds Investment Veteran in the Lion City

Published by Finews Asia – Thu 18 Aug 2016

EFG Internatonal has appointed a new head of investments for EFG Asset Management in Singapore.

Singapore-based Rebekah Chuan will be responsible for developing the investment solutions together with a team of locally-based investment professionals. EFG Asset Management (EFGAM) announced further, that this hire is meant to strengthen the Swiss firm’s position in the region, as the company currently both invests in Asia and has a growing client base there.

12 August 2016

Number of Licensed Banks in Hong Kong Rises

Published by Finews Asia – Tuesday 16th August 2016

The Hong Kong Monetary Authority has granted a banking license to a daughter of the 5th-largest banking group in France.

The Hong Kong Monetary Authority(HKMA) has granted a banking license to Crédit Industriel et Commercial (CIC) under the Banking Ordinance. The granting of this banking license has taken effect on August 12, according to a statement.

14 July 2016

New Group Head at Julius Baer

Published by Finews.asia – 14th July 2016

Zurich headquartered bank Julius Baer has been steadily adding bankers in Asia this year. finews.asia can reveal another senior wealth professional has been hired into the banks Hong Kong business.

Edward Chow has joined Julius Baer as a Group Head, Greater China. Based in Hong Kong, he will report to David Shick, Head Private Banking Greater China.

11 May 2015

Pictet recruits former J. Safra Sarasin banker

Published by AsianPrivateBanker – 11th May 2015

After just more than a year with Bank J. Safra Sarasin, an investment counsellor has moved to Pictet.

Soo Ong Ling has joined Pictet’s Asia advisory team as a senior investment advisor based Singapore. She will report to Richard Mak, head of advisory services, Asia, who is based in Hong Kong.