Frontier markets growing faster than EMs, says Templeton
Frontier markets are growing at a much faster pace than emerging markets, according to Mark Mobius, executive chairman of the Templeton emerging markets group.
Asia
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Nutmeg raises another £12m from Taiwanese bank
Europe’s largest online wealth manager Nutmeg has attracted an additional £12m ($14.8m €14.1m) from Taipei Fubon Bank (TFB) and has revealed its assets under management for the first time.
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Australia’s Westpac taken to court over advice failures
Australia’s financial services regulator is taking legal action against one of the country’s biggest banks for giving financial advice that failed to put the “best interests” of its clients first.
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Convicted ex-BSI banker to be sentenced ‘beyond the norm’
Former BSI banker Yeo Jaiwei has been found guilty of four charges of witness tampering by a Singapore court as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
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Hong Kong seeks private bankers for local, mainland clients
There is a huge demand for relationship managers to look after high net worth (HNW) clients in Hong Kong and mainland China, a trend which is expected to continue in the coming year.
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Allfunds plans Asian expansion from new Singapore hub
Mutual funds platform operator Allfunds Bank has announced plans to expand across Asia by launching an operational hub in Singapore to service a new local business, which will open early next year, as well as businesses in Hong Kong and Taiwan.
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Top challenges facing global IFAs in 2017
Advisers around the world give their views on how regulation, M&A activity and technology will affect their business in 2017.
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HK rolls out internship programme in latest fintech push
The Hong Kong Monetary Authority and the Technology Research Institute have rolled out a programme that provides fintech internships for undergraduate and postgraduate students, as part of its latest move to become Asia’s leading fintech hub.
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Senior managers must be held more accountable, says HK regulator
Senior managers at financial firms must take greater accountability for corporate wrongdoing, according to a circular released by the Hong Kong Securities and Futures Commission (SFC).
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Two-week jail term and $7k fine for ex-BSI banker in 1MDB case
Former BSI Singapore director Yvonne Seah has been sentenced to two weeks in prison and fined S$10,000 (£5,553, $6,943, €6,632) as part of the investigation into 1Malaysia Development Bhd (1MDB).
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Wealthy Singaporeans favour cash compared to HK counterparts
High net-worth individuals (HNW) in Singapore hold greater amounts of cash and deposits compared to their Hong Kong counterparts, according to Ivan Han, a Singapore-based senior analyst at Cerulli Associates.
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China’s robo-advisers struggle to attract investors
The biggest challenge for robo-advisers in China is convincing people to take a long-term view on passive investing, says Frank Wang, managing director at Creditease Wealth Management.