Hiring has slowed down significantly at banks in Asia-Pacific, according to job post data, and a prolonged freeze could last the entire year from the effects on the ongoing pandemic.
The current crash can be seen as an opportunity for digital assets to take deeper roots. Swiss crypto-firms are nevertheless mindful not to let loose in a big way while a recession seems imminent.
Despite Beijing’s effort to mobilize the state’s financial firepower to combat the coronavirus epidemic, the results have exposed vulnerabilities in the system that have led to inefficiency and sometimes waste.
It will provide fund administration and global custody services in Singapore to Kamet Capital Partners.
DBS’ Tan Su Shan followed up on the estimates for a 2 percent of revenue cut, underlining that potential revisions could come should the pandemic prolong.
Gold was not spared on Thursday's market rout, with gold futures on Comex falling by $52, or 3.2 percent, to settle at $1,590.30/oz.
The richest 500 people in the world saw another $331 billion wiped off from their fortunes, according to the «Bloomberg Billionaires Index», with wealth loss totaling $950 billion year-to-date.
The unit, the result of a merger of the bank's Retail Banking and Wealth Management and Global Private Banking businesses, has its sights on China's growing wealth.
The two appointments were made to help drive the bank's growth in the region, with Strategic Lending a core capability for its wealth management business in emerging markets.
Multi-family office, Envysion Wealth Management, will look to grow its $300 million in assets under management more than five-fold by year-end.
A former manager at Bank of Communications took freezing assets in its literal term after Chinese investigators found millions of yuan stored in his refrigerator.
Although digital banks have sprung up in recent years, their efforts to address the unbanked appear limited at the moment. Celeste Goh, a fintech analyst at S&P Global Market Intelligence, shares her observations with finews.asia in an interview.
Standard Chartered launches «nexus» – a new solution that will allow digital vendors to co-create loans, credit card and savings accounts with the bank under their own brand name.
The Singapore-based property search portal is rolling out digital home financing services such as instant in-principle approval, instant offers, refinance checks for property buyers.
The move is part of the bank's initiatives to create an inclusive workplace, and follows moves to increase female representation in senior roles and narrow the wage gap between male and female staff.
A former investment banker with Citi will be returning to the American lender to lead its financial institutions group for Hong Kong.
The deadly ongoing pandemic persists with no credible projections leaving banks divided on markets with advice ranging from buying on the current dip to an outright downgrade of the asset class.
OCBC Bank has rolled out a cheque encashment service across all its next-generation ATMs at 23 branches, making it the first bank to offer such services in Southeast Asia.
Standard Chartered has released details of its virtual bank in Hong Kong, set to be launched later this year in partnership with PCCW, Hong Kong Telecom (HKT) and Trip.com.
OCBC Bank on Thursday confirmed that one of its staff was diagnosed with the novel coronavirus.
Page 500 of 1007
