Press

1 November 2016

All You Need To Know About EFG’s Acquisition of BSI Bank

Published by Finews Asia – 1st November 2016

Legal acquisition completed, newly appointed CEO and how much they paid… Read More Below

31 October 2016

Tsang joins JPMAM real assets division in Asia

Published by IPE Real Estate – 31th October 2016

JP Morgan Asset Management, RED Capital Asia, Barings Real Estate Advisers, Aberdeen Asset Management, ADIA, Newcore, Pastor Real Estate, Genesta, Leimdörfer, Avignon Capital, Savills, JLL.

JP Morgan Asset Management – Kenneth Tsang has joined the global real assets arm as managing director and head of research and strategy for Asia Pacific. Tsang, who will be based in Hong Kong, was previously a managing director at RED Capital Asia. Earlier in his career, he was head of Asia-Pacific research and strategy at LaSalle Investment Management and has also worked for Sanford Bernstein, ING REIM (now CBRE Global Investors) and JLL.

31 October 2016

DBS to Buy ANZ’s Wealth, Retail Units in Five Asian Nations

Published by Bloomberg – 31th October 2016

DBS Group Holdings Ltd. will buy retail and wealth-management businesses from Australia & New Zealand Banking Group Ltd. in five Asian countries, in a move that lodges the Singaporean lender firmly in the ranks of the region’s largest private banks.

DBS will pay S$110 million ($79 million) above the book value of the businesses, which operate in Singapore, Hong Kong, China, Taiwan and Indonesia, the lender said in a stock-exchange statement. The deal will add S$23 billion of wealth assets to DBS’s books, taking its total assets under management to S$182 billion, it said.

31 October 2016

Fosun acquisition opens up new markets for Luxembourg private bank

Published by South China Morning Post – 31st October 2016

Regulations and capital controls remain a burden for mainland Chinese investors seeking to diversify assets abroad.

Chinese investment into Europe and North America is under scrutiny once again, but for one company from Luxembourg at least, gaining a Chinese parent has presented it with a route to expand in Asia.

28 October 2016

Hong Kong regulator probes UBS’s role as sponsor of certain IPOs

Published by Reuters – 28th October 2016

Swiss bank UBS (UBSG.S) said Hong Kong’s securities regulator is investigating its role as sponsor of certain unnamed stock market listings in the city, with the intention to start unspecified action against the bank and some of its employees.

The disclosure by UBS, released with its third-quarter financial results, made it the first major bank to say it was being probed since Hong Kong’s Securities and Futures Commission (SFC) introduced tougher rules for listing sponsors. UBS said the watchdog had informed it of its actions this month.

28 October 2016

UBS Private Bank’s Stealth Decline

Published by Finews.asia – 28th October 2016

UBS has posted its seventh consecutive quarter of falling income from private banking. The antidote until now has been cost-cutting. Is it enough?

Nobody envies UBS private banking head Juerg Zeltner right now: his unit, upon which the Swiss bank has built its long-term strategy, faces an uphill battle – and one that is only accentuating He has said that UBS must temper its profit expectations (in German), and effectively rebuffed net new money.

28 October 2016

DBS Confirms Senior Move

Published by Finews.asia – 28th October 2016

Singapore’s DBS Bank has appointed a Head of International Private Bank. His coverage will include Global South Asia and Non Resident Indian teams, the Europe, Middle East and Africa geographies.

28 October 2016

DBS Confirms Senior Move

Published by Finews.asia – 28th October 2016

Singapore’s DBS Bank has appointed a Head of International Private Bank. His coverage will include Global South Asia and Non Resident Indian teams, the Europe, Middle East and Africa geographies.

27 October 2016

INTERVIEW: Big Decisions For Singapore’s Private Bankers Amid Amnesty, Sharper Competition – Huddleston Jones

Published by Wealthbriefing Asia – 27th October 2016

A prominent executive search firm working in the Asia-Pacific region talks to this news service about what the Indonesian tax amnesty means for private bankers and wealth managers in Singapore and the wider region.

As the Indonesia tax amnesty moves into its second phase, having finished its first round at the start of October, Singapore-based bankers focused on the Indonesia market continue to wrestle with future strategy.

“There has been a significant decline in the transnational volume [of business] coming from Indonesian clients at the moment,” Danny Jones, founding partner at Huddleston Jones, told this publication in a recent interview at his offices in Singapore.

27 October 2016

Where Will Ravi Raju Fit in UBS’ Org Chart?

Published by Finews Asia – 27th October 2016

UBS has been mum about where its most recent prominent hire – previously Deutsche Bank’s private banking head in Asia – will fit in the Swiss bank. finews.ch reveals details of his new role.

The Zurich lender’s hire of Ravi Raju last month was a coup, leading Deutsche to scramble to stanch potential damage from the move.

Raju previously led an entire wealth management region – albeit at a far smaller competitor. Thus, the question of where he would fit into the giant Swiss bank’s hierarchy was a somewhat delicate one.