Singapore's OCBC first-quarter profit rose by almost a third compared with a year earlier. The wealth management business made a strong contribution.
«Take 6 percent return and translate that to a potential shortfall of 10 or 12 percent – you will see the person’s expression change as that sinks in,» Vincent Magnenat, the new CEO Asia of Lombard Odier, tells finews.asia.
London-based HSBC reported a decline in its first-quarter pretax profit due to increased spending on investments. Chief Executive John Flint seems happy nonetheless.
The Asian fund management unit of U.K. insurer Prudential appointed a new chief executive for Singapore and shuffled its senior management.
National Australia Bank is joining its industry peers and decided to move away from wealth management to focus on core banking services.
The Japanese technology group Softbank wants to buy a significant stake in reinsurer Swiss Re. But the negotiations seem to be at a dead end.
The Swiss stock exchange operator may sell the payments division as early as this month. The deal is being handled by a foreign bank, according to information obtained by finews.asia.
In May 2018, VP Bank has launched an updated e-banking system. The new VP Bank e-banking features a user-friendly design while meeting the most stringent of security requirements.
Singapore’s financial regulator issued a lengthy professional ban against a former Credit Suisse banker. His new employer is not amused.
Last year's Singapore Fintech Festival attracted more than 30,000 participants from more than 100 countries, and in excess of 5,000 companies. The organizers want to make the 2018 edition even bigger.
UBS took a big step towards expanding its stake in a decisive Chinese partnership, in a bid to eventually control the majority.
Sumitomo Mitsui Financial Group and Daiwa Securities are studying a merger of their respective asset management units in a bid to become more competitive.
Credit Suisse boosts its franchise in Southeast Asia with the arrival of an industry veteran and long-time Julius Baer banker. He will also be engaged in strengthening Credit Suisse’s human capital, developing and mentoring new talent.
The smallest of Singapore's big-three banks reported record net income for the first quarter of 2018, bolstered by more fees and commissions from wealthy clients.
A former UBS and Credit Suisse heavyweight is the third banker ever to become a billionaire. The ex-boxer who is cozy with Donald Trump is now trying his hand at the largest initial public offering in history.
Economic growth in China and Hong Kong helped Standard Chartered to an encouraging first-quarter result. The bank also attracted significant amounts of net new money.
Singapore-based HP Wealth Management brings on board a veteran in international wealth management. He intends to further strengthen the offering and wealth structuring.
Prosecutors in Switzerland are expanding their investigation into claims of fraud at the under fire Malaysian state fund 1MDB. The fund is not amused.
Marvelstone Group, the investment firm behind London-based tech hub Lattice80 is expanding its portfolio of innovation labs and has opened a new facility in Singapore.
«You can’t join Lombard Odier without knowing what the bank stands for,» Vincent Magnenat tells finews.asia in his first interview as the new CEO in Asia of an institution that has weathered 40 crises.
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