Credit Suisse is reportedly considering to merge its private banking divisions in a bid to improve controls, reduce costs, streamline products and reorganize the business into a more attractive merger partner.
The Swiss bank won't decide on its the specifics of its overhaul until year-end, new overseer António Horta-Osório said in his first press remarks since in the job.
Credit Suisse will soon face important strategic decisions, according to media reports, but Chairman Antonio Horta-Osório won't put the bank on the blocks, sources have told finews.asia. Here is where he needs to make a start.
Credit Suisse’s new chairman, António Horta-Osório, is still skirting around one of his biggest challenges in turning the bank around: reining in its free-wheeling culture, finews.com senior contributor Katharina Bart writes.
Despite a contraction in the overall economy amid Covid-19, the financial services sector grew by 5.1 percent in 2020. In the first half 2021, the sector grew by an estimated 6 percent.
The long-standing former chairman of Credit Suisse faces opposition from a feisty activist shareholder in the only corporate gig he still holds.
The Singapore-based platform has secured new strategic investors in heavyweights UBS, Samsung and Singtel Innov8, to fund its expansion in Singapore and Hong Kong.
The market operator and global trading solutions provider is growing its global derivatives and securities trading network with the acquisition of Chi-X Asia Pacific.
A financial services partnership signed on Thursday will help increase investment and trade with Singapore and the Asia-Pacific region and boost collaboration on areas such as fintech and green finance.
«We never discuss how to make more profit,» Pictet partner Laurent Ramsey tells finews.asia in an interview, adding that of his six co-partners: «Nobody thinks that any one of us is extraordinary but as a whole, we are relatively strong.»
The firm is strengthening its presence in Singapore with a key senior appointment, who will be responsible for leading the distribution team and executing the company’s distribution strategy in the country.
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She will succeed Virginia Devereux Wong, regional head of funds and ETFs, who will be leaving HSBC Private Banking at the end of June.
Exiled dissident and former Hong Kong lawmaker Ted Hui Chi-fung spoke again about his frozen accounts, claiming that there was no legal basis for continued suspension.
A staffing error reportedly bypassed internal controls at Deutsche Bank which led to the expiration of its Hong Kong license to sponsor initial public offerings, marking a setback to the relaunch of its Asia equities business.
Hong Kong-based AIA Group has agreed to purchase a stake in China Post Life Insurance, adding to its portfolio of holdings in mainland insurers.
The firm launched Singapore-dollar trading of its SPDR Gold Shares on Wednesday, mirroring its listing in Hong Kong and Japan, which are also cross-listed in the local currency.
HSBC has named a mainland China head of private banking with plans to expand the business to 10 cities in the country over the next five years.
The Swiss bank is hosting a star-studded week of discussing some of most pressing problems facing the world. The unfortunate timing given its own woes has strategic logic.
An Asian private banking veteran and longtime UBS executive has retired after four decades with the Swiss lender, finews.asia has learned.
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