former morgan stanley md banned for life
The former managing director of Morgan Stanley Asia, Du Jun, has been banned from re-entering the financial services industry for life by Hong Kong’s main financial regulator.
Asia
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manulife am handed hk24m fine over sale
Manulife Asset Management, a subsidiary of Canadian financial services company Manulife, has been handed a substantial fine by the Hong Kong regulator over “inadequate controls” in relation to its distribution of the Manulife Global Fund.
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neptune signs distribution deal to boost
Neptune Investment Management has signed a deal with a Hong Kong based investment boutique distributor in a bid to increase its sales in the Asia region.
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standard chartered eyes Indian wealth manager
Standard Chartered is in talks to buy Morgan Stanley’s Indian wealth management arm, it emerged yesterday.
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axa appoints varley to regional development role
David Varley, who for the past four years has headed up Axa Asia’s international brokerage operations out of Hong Kong, has been named to the newly created role of regional head of the company’s Health & Protection Development.
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ifss beggs takes role with henley group
Kelso Beggs, for many years the chief operations officer of International Financial Services in Singapore, has taken a role with the Singapore-based Henley Group, as it undergoes a major strategic review of its Singapore business.
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china widens doorway to its retail funds market
From the first of June, China’s mutual funds market will become more open to a greater range of product providers, including securities firms and insurance companies, following the release last week of new rules by the Chinese regulator.
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global fund manager trade body to open
ICI Global, a trade association which represents global fund managers, has opened an office in Hong Kong to focus on the Asia Pacific region.
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eastspring kl names chen to cio
Eastspring Investments Berhad, the Kuala Lumpur-based arm of Eastspring Investments, has named Chen Fan Fai chief investment officer and country head.
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pwc china pwc us and pwc australia form alliance
PwC China, PwC United States and PwC Australia have announced a new alliance which will see the three offer an expanded range of professional consulting services in China aimed at serving the growing needs of multinational companies and state-owned enterprises operating in the country.
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singapore insurance sales exceed two bn
Sales of insurance products in Singapore grew 8% over the last year to the end of December compared to 2011, the Life Insurance Association of Singapore has revealed.
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china approves hsbc ping an stake sale
The China Insurance Regulatory Commission (CIRC) has approved HSBC's sale of its stake in insurance giant Ping An to a Thai conglomerate for $9.4bn, ending speculation that the deal might never be completed.