Press

16 November 2016

Hong Kong Firm Invests $30 Million In High-Profile UK Robo Advisor

Published by WealthBriefing Asia – 16th November 2016

Nutmeg has secured a £24 million ($30 million) investment from Hong Kong-based Convoy Global as part of a £30 million funding round.

The new capital will be used to enhance Nutmeg’s product offering and boost the scale of the UK business, the company said in a statement. It will focus specifically on innovation including new investing options, tax wrappers and advisory capabilities.

15 November 2016

Credit Suisse hires banker in China onshore private banking push: memo

Published by Reuters – 15th November 2016

Credit Suisse has hired former RBS banker Rick Meng as head of China onshore private banking, according to an internal memo, as the Swiss private bank looks to tap the wealth management business in the world’s second-largest economy.

Credit Suisse will compete with Goldman Sachs and UBS on advising wealthy Chinese clients.

13 November 2016

VP Bank Fosters Business Development in Asia

Published by Finews.asia – 13th November 2016

As an internationally positioned private bank and specialist in asset management services in Switzerland and in Asia’s major hubs, the business model is key to VP Bank’s success.

With 60 years of experience, the business model of VP Bank is based on two strategic pillars: private banking and intermediaries. VP Bank is positioned as a boutique bank for both target groups – with top-notch solutions and services.

12 November 2016

Schroders Asia in Senior Hire

Published by Finews.asia – 12th November 2016

Global asset manager Schroders has appointed a Head of Fixed Income & Foreign Exchange Trading for Asia.

In this newly created role Sok Mun Wong, will be based in Singapore, Schroders’ central trading hub in Asia.

11 November 2016

Ex-UBS Bankers Launch Wealth Boutique

Published by Finews.asia – 11th November 2016

Three former UBS executives with significant experience across Ultra High Net Worth, Family Office and business development have joined forces to open a new investment and advisory firm in Hong Kong.

As a privately owned and independent boutique firm, Lioncrest Global, which launched today, is set to focus on serving select institutions, family offices and high-net-worth families and individuals.

9 November 2016

Temasek-backed Fullerton’s CEO Sekhon leaves firm

Published by Deal Street Asia – 9th November 2016

Fullerton Fund Management Co., the Singapore-based asset manager backed by Temasek Holdings Pte, said Chief Executive Officer Manraj Sekhon has left the firm.

The decision was announced by the Fullerton board on Nov. 8 and is with immediate effect, the investment firm said Wednesday in an e-mailed response to Bloomberg queries. Sekhon, who also served as chief investment officer, had been in his role for more than five years. Fullerton Chairman Ho Tian Yee will assume Sekhon’s responsibilities in the interim, according to the statement.

9 November 2016

Executive Changes at Vanguard

Published by Finews.asia – 9th November 2016

Global investment manager Vanguard has announced several changes to its executive team in Australia. Two senior leaders will take on new roles based at the company’s U.S. headquarters.

In light of global rotations, Vanguard Australia’s current National Sales Manager, Key Accounts, Platforms, and Research, Matthew Lumsden, will join the Australian Executive team as the new Head of Distribution.

8 November 2016

Sarasin Hires from Julius Baer

Published by Finews.asia – 8th November 2016

J. Safra Sarasin in Singapore has appointed a new Managing Director to lead a team covering the Indonesia and Southeast Asia markets.
Bank J. Safra Sarasin has appointed Sutarmin Lili as a Managing Director, Client Advisory, effective 8 November 2016 the bank said in a statement today.

In his new role Lili will manage a team primarily covering the Indonesia and Southeast Asian markets. He will report to Benedikt Maissen, (pictured) Chief Executive Officer, Singapore, and will be based at Bank J. Safra Sarasin’s Singapore Branch.

7 November 2016

Hong Kong Fintech Heats Up

Published by Finews.asia – 7th November 2016

Hong Kong’s 12-week fintech accelerator programme sponsored by Standard Chartered and Fidelity International «SuperCharger FinTech 2.0» has chosen its finalists.

For a second year running, SuperCharger, which aims to help the most promising start-ups and scale-ups grow in Asia, has surpassed other Hong Kong FinTech accelerators with almost 200 applicants from 33 countries from which 8 finalists were selected.

5 November 2016

Agricultural Bank of China to pay US$215 million to New York state for money laundering violations

Published by South China Morning Post – 5th November 2016

Agricultural Bank of China Ltd will pay a US$215 million penalty for violating New York’s anti-money laundering laws and ordered the Beijing-based lender to install an independent monitor, in a rare U.S. penalty against one of China’s largest state-run banks,the state’s financial regulator said on Friday.

Bank officials engaged in “intentional wrongdoing,” including masking suspicious transactions at the New York branch, the New York State Department of Financial Services (DFS) said. The bank also “silenced” the branch’s chief compliance officer, the regulator said.