Press

9 December 2016

Hong Kong Regulator Concerned over Reported DBS Arrests

Published by Finews Asia – 9th December 2016

The Hong Kong Monetary Authority voiced concern after a media report that more than 20 current and former employees of DBS Group were arrested in connection with an alleged leak of customer data.

Tabloid “Apple Daily“ reported that the city’s Independent Commission Against Corruption, ICAC, made the arrests after client data was allegedly leaked to a telemarketing center in mainland China.

8 December 2016

NSSF appoints 21 external fund managers

Published by Asia Asset Management – 8th December 2016

China’s National Council for Social Security Fund (NSSF) has appointed 21 domestic asset managers to undertake its new pension mandates. The bureau is looking to establish a new pension fund scheme dedicated to provincial or local pension accounts.

6 December 2016

LGT Agrees To Buy Asian Private Banking Assets Of ABN AMRO

Published by WealthBriefing – 6th December 2016

The trend of Western lenders selling Asian private banking operations continued with the ABN AMRO transaction today.

Liechtenstein-headquartered LGT has agreed to buy the private banking businesses of ABN AMRO in Hong Kong, Singapore and Dubai, which together hold around $20 billion of client assets under management. The transaction is yet another example of how some non-Asian lenders have sold off private banking operations amid a bout of M&A activity in recent years.

5 December 2016

Fintech: China Outpaces London, New York and the Silicon Valley

Published by Finews Asia – 5th December 2016

While the U.K. and the U.S. have jostled to be recognized as leading global fintech centers, China has leapfrogged ahead to become the undisputed global fintech hub.

5 December 2016

Private Banks In Asia In Drive To Grow Annuity Income; Talent Pool For Funds Is Tight – White Paper

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.

2 December 2016

Deutsche Wealth Adds to Greater China Team From UBS

Published by Finews Asia – 2nd December 2016

One day on from announcing Kanas Chan as the new head of North Asia wealth management, Deutsche Bank has made an addition to its Greater China wealth unit.

1 December 2016

EFG hires former ABN AMRO PB head of Southeast Asia

Published by Asian Private Banker – 1st December 2016

EFG Bank has appointed ABN AMRO’s former Southeast Asia head of private banking to a leadership role in Singapore, Asian Private Banker can reveal.

1 December 2016

Deutsche Bank WM names new head of North Asia

Published by Asian Private Banker – 1st December 2016

Deutsche Bank Wealth Management has named a new head of North Asia, following the promotion of Lok Yim to head of Asia Pacific for the private bank.

Kanas Chan, previously head of capital markets APAC for Deutsche Bank Wealth Management, will take on the role of North Asia head, effective 5 December 2016.

25 November 2016

Nomura Wealth Management’s Asia deputy head steps down

Published by AsianPrivateBanker.com – 25th November 2016

Nomura’s Singapore-based deputy head of wealth management for Asia ex-Japan has left the bank, Asian Private Banker can reveal. The private bank has also reshuffled a number of senior management roles.

Amanda Chen has exited Nomura after almost two years as Asia deputy head for Japanese lender’s wealth management division.

Chen reported to Nobuhiro Sano, head of wealth management, Asia ex-Japan, who remains with the bank.

Asian Private Banker understands that Johnny Heng, who was Nomura’s chief investment officer (CIO), wealth management, Asia ex-japan, has taken on the role of head of relationship management for the wealth management unit, effective immediately.

The vacated CIO role has been spilt, with Vincent Ng becoming CIO for Hong Kong and Tong Yeu Sng becoming CIO in Singapore.

A spokesperson for the bank declined to comment on Chen’s departure and the internal changes.

Chen joined Nomura Wealth Management in January 2015 from Morgan Stanley where she held a number of role, including head of strategic transaction group and head of private wealth management. Chen also worked with Lehman Brothers in equity derivative structured sales.

24 November 2016

Senior Move at UBS Hong Kong

Published by Finews.asia – 24th November 2016

Swiss banking giant UBS announced an internal move in Hong Kong that sees the former head of the portfolio specialist unit take up a client facing team leadership role.

Via an internal memo seen by finews.asia, the bank announced that Michael Christo will be joining the Hong Kong Domestic Kowloon Team as a Desk Head effective from 1st January 2017.