As markets continue to tumble, central banks are rushing to ease a global credit crunch, signaling material risks to growth, liquidity and markets. What say the banks?
The Philippines paused stock, bond and currency trading until further notice, becoming the first country to shut financial markets due to the coronavirus pandemic.
Leading central banks from across the globe on Sunday promised to inject additional liquidity. But despite their concerted effort, the massive slide on the stock markets continued today.
The share prices of UBS and Credit Suisse tumbled in line with their European counterparts. Investors fear the coronavirus will spark a wider recession – and banks will bear the brunt.
LGT posted a 2 percent dip in group profits despite doubling its net asset inflows in 2019.
HSBC Private Banking on Monday announced it has joined The WealthiHer Network Asia as a move to advance the Bank’s agenda to promote gender diversity in the financial services sector.
HSBC makes an industry-first move to launch a green loan program with a simplified process aimed to boost small to medium-sized enterprise participation.
Financial technology, alongside other developments, helped boost Hong Kong’s ranking as a tech innovation hub to tenth place worldwide in the latest KPMG survey.
The new coronavirus and the stock market plunge are a severe test for the investment advisory of all banks. Some of the advice provided will almost inevitably disappoint clients.
While global markets last week were reporting some of the worst daily sessions in decades, private banking clients in Asia are reportedly exhibiting relative immunity to turbulence and are in some cases capitalizing on volatility.
From its current 5 percent, Citibank Singapore plans to double its wealth management market share alongside the number of clients by 2025.
PIMCO, a leading fixed income investment manager, has hired a new head of South Asia Client Management and the head of Singapore office.
The United States’ biggest banks will stop buying back their own shares as they intend to use the capital to support individuals and businesses affected by the coronavirus.
Citigroup and J.P. Morgan reported three additional cases of confirmed coronavirus infections in their New York-based offices, bringing Wall Street’s total count to five.
Singapore banks were among 32 primary-listed stocks conducting share buybacks over the five sessions ended 12 March 12, with a total consideration of S$169.6 million.
Lending to the wealthy has become a popular revenue kick-starter for private banks. Some wealth managers are reportedly quietly asking their well-heeled clients to put up more collateral against the loans amid market ructions.
Markets don’t like uncertainty, and there’s a tremendous amount of uncertainty right now with regard to how severe and how prolonged the impact could be, Robert Sharps writes on finews.first.
Will the coronavirus-crisis become a direct threat to the global financial and banking system? The steps taken to support the system by central banks would suggest yes. But what are the key elements that could tip the scales?
Galleries have responded positively to the cancellation of Art Basel Hong Kong by showcasing works in online viewing rooms, in what will be the art market's biggest test so far in moving sales online.
He will take up the role of deputy chief financial officer on 1 April, and will succeed the current CFO, who is retiring on 30 September.
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