Wealth Management
Citi sells $3.6b China consumer wealth portfolio to HSBC
The deal does not include the bank’s institutional business.
Citi sells $3.6b China consumer wealth portfolio to HSBC
The deal does not include the bank’s institutional business.
Schroders SG, KBank launch China Private Equity Fund in Thailand
The fund offers investors access to China’s RMB private equity market.
Citibank Singapore launching new satellite wealth advisory hubs in 2024
The Parkway Parade hub and One Holland Village hub expands Citi’s physical footprints.
Citigroup’s net income rises 2% to $3.5b in Q3
Revenue was 9% higher at $20.1b during the quarter.
RHB Islamic Bank targets $1.28b in wealth management by 2026
Its new Visa multi-currency card and new Islamic wealth portal will help achieve this goal.
Financial fitness is a major factor when it comes to the quality of life: Study
Developed markets scored lower than those in emerging markets.
Weekly Global News Wrap: Morgan Stanley rolling out gen AI support for FAs; Russia’s Sovcombank sues HSBC to recover debt
And private equity firms allege fraud as they seek $750m from Morgan Stanely.
HSBC names Lok Yim as regional head of APAC global private banking
Yim joins from Deutsche Bank, where he was CEO of its Hong Kong business.
StanChart names Mike Tan as new global head of wealth planning and family advisory
He will start in his new role on 25 September.
Liyen Wee takes spot as VP, head of wealth at Cohen & Steers
She will be headquartered in Singapore under David Conway’s management.
The majority of Singaporean and Hong Kong youth believe that financial advice-seeking is beneficial
The study reveals that family comes in third most reliable source of financial advice.
Weekly Global News Wrap: US floats stricter regional bank rules; Some China banks to cut mortgage rates
And Wells Fargo has agreed to return $40m in overcharged fees to 11,000 customers.
Check out how APAC family offices moved their investments in Q2
There was “moderate” client interest in longer-dated US Treasuries and perpetual bonds.
Hang Seng Bank opens two new cross-boundary wealth management centres
One is in Shenzhen and the other is in Tsim Sha Tsui.
HSBC names UBS banker as new head of global private banking for SA
Tommy Leung will take over the role on 19 October.
StashAway, family office firm to offer clients with more investment options
ACP clients can invest in private equity managers such as KKR, SilverLake, and Khosla Ventures.
Weekly Global News Wrap: Rothschild & Co takes one step closer to going private; Ant Group may be fined $1b
And UBS makes changes in global wealth management business.
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