Globaleye names global managing director
Financial advisory firm Globaleye has a new managing director (global) in the form of Byron Murphy.
Singapore
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Cyberattack hits 5,400 Axa Insurance customers
Personal data belonging to around 5,400 Axa Insurance customers in Singapore was compromised in a cybersecurity incident.
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Raid on rival boosts new AIA advice arm
Singapore’s newly minted AIA Financial Advisers is on a recruitment spree and has reportedly made an offer of around S$100m (£56.5m, $74.5m, €62m) to lure across more than 300 people from Great Eastern’s Advisors Alliance Group.
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Fullerton and Man Group to launch private funds in China
Singapore’s Fullerton Fund Management and alternatives specialist Man Group have received private fund management (PFM) licences from the Asset Management Association of China.
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Axa Life Singapore ordered to pay $3m over bad reference
Axa Life Insurance Singapore has been ordered by the country’s High Court to pay compensation to a former employee for providing an unflattering reference to the Monetary Authority of Singapore (Mas) and his prospective employer, Prudential Assurance Company Singapore.
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Singaporeans are top financial adviser users
Singapore is the country with the highest proportion of investors seeking the help of financial advisers to manage their assets, according to a survey by global investment firm Legg Mason.
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Singapore warns investors on virtual currency investments
As virtual currencies grow in value, investors have been warned about the risks of virtual currency-related investment schemes by Singapore’s Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (Mas).
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Goldman Sachs to sell entire Rothesay Life stake
Goldman Sachs has agreed to sell its remaining stake in UK-based life insurer Rothesay Life to MassMutual Life Insurance and to funds managed or advised by investment firm Blackstone and Singaporean fund management company GIC.
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Hong Kong domiciled funds growth outpaces Singapore
Chinese equity mutual funds boost the size of the Hong Kong-domiciled mutual fund landscape, helping it push ahead of rival Singapore.
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Singapore’s life insurance business up 10% in first half 2017
The life insurance industry in Singapore has reported a growth in sales across both single and annual premium products in the first six months of the year, with premiums collected on new policies jumping 10% to S$1.68bn (£944m, $1.2bn, €1bn) compared to 2016.
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PEOPLE MOVES: Holborn hires CCO as part of big expansion
Holborn Assets is planning to expand across the Middle East and Asia over the next 12 months, while Schroders has created a new sales director role for the Middle East. A Manulife insurance salesperson in Hong Kong has been added to the Guinness Book of World Records for his astonishingly long career.
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Netherlands and UK are biggest channels for tax haven inflows
The Netherlands and the UK facilitate global tax avoidance by acting as conduits for 37% of corporate money heading to tax havens, research by academics at the University of Amsterdam shows.