With the ongoing wave of aging billionaires, wealth creation via inheritance has outpaced entrepreneurship amongst the world’s richest, according to a UBS report.
The cost of living in Singapore and Zurich ranked at the top amongst major cities worldwide, according to a report by the Economist Intelligence Unit.
The Singapore Fintech Festival held earlier this month broke records with an all-time high number of attendees.
Geopolitics is mentioned at «every client meeting», according to Deutsche Bank chief investment officer Christian Nolting, with 2024 being named as the biggest election year in history.
The turmoil sweeping René Benko’s faltering corporate empire continues to drag down Julius Baer’s stock price. The private bank’s stock market valuation appears to be presaging the worst possible outcome of the debacle.
British asset manager abrdn has reportedly hired a former Credit Suisse executive focused on compliance and risk.
Following an investigation, the Hong Kong Monetary Authority has found failures in the anti-money laundering processes of Indosuez and imposed a penalty against the French private bank.
The vast Signa conglomerate is crumbling like a house of cards. Now, the holding company of Austrian real estate investor René Benko has also filed for insolvency. Other subsidiaries are likely to follow.
Traders all across the world are complaining about a massive liquidity problem on the public stock exchange. On the other hand, so-called dark pools for block trading that are invisible from the outside are booming.
Global financial markets are entering unchartered territory as 2024 could mark the «beginning of a new world», according to UBS's Mark Haefele.
Berkshire Hathaway's vice chairman and longtime partner of Warren Buffett has passed away at the age of 99.
Singapore-based OCBC has announced the appointment of a new chief executive officer for Hong Kong.
Baltimore-based T. Rowe Price has announced the appointment of two executives focused on intermediary distribution in Asia.
A former Credit Suisse executive has joined Standard Chartered as its head of discretionary portfolio management.
The private bank has engaged in loan exposure of more than half a billion francs as part of its wealth management business. This now means that the bank must plan on reserves once more – Julius Baer is therefore facing an alarming level of risk.
Sergio Ermotti’s second term of office as UBS Chairman has only just begun. But the bank’s chairman Colm Kelleher is already thinking about a succession plan.
UBS has reallocated all Credit Suisse affluent bankers in Switzerland – as research by finews.asia reveals. This change is going to hurt some people.
Some market watchers have been expressing optimism due to what appeared to be improved US-China relations following the APEC summit. But according to J.P. Morgan Private Bank, there is no clear correlation between markets and geopolitics.
In Hong Kong and Singapore, the wealthier the individual, the more likely they are to prioritize ESG and sustainability factors when investing, according to a survey by St. James’s Place Asia.
London-headquartered HSBC has reportedly hired a former UBS private banker who focuses on the non-resident Indian client segment.
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