Bank of Singapore (BoS), a subsidiary of one of Singapore’s largest banks, has completed the acquisition of the wealth and investment management business of Barclays in Singapore and Hong Kong.
A subsidiary of one of Singapore’s largest banks, OCBC Bank, has confirmed it will offer financial advice to wealthy individuals in the Middle East when it opens a new office in Dubai next year.
A former senior BSI Bank vice president was jailed on Friday for 18 weeks by a Singapore court, for forgery and failure to disclose suspicious transactions as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
The Monetary Authority of Singapore (MAS) has no rules against hiring ex-offenders for positions in the financial services sector, deputy prime minister Tharman Shanmugaratnam has confirmed.
Crossbridge Capital and Morningstar are collaborating on a newly-launched digital advisory platform that targets high net worth (HNW) individuals and US expats, which they believe are under-served in Asia.
Wealth management firm Meyado is to see a change at the top after Singapore chief executive Mark Paine announced plans to buy out the shares of the group’s founder and chairman Martin Young.
A former BSI Bank wealth planner went on trial in Singapore on Monday for attempting to pervert the course of justice as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
The trend of banks offloading assets continues as Singapore-based DBS acquires ANZ’s WM and retail units in Asia, adding S$23bn ($16.5bn, £13.5bn, €15bn) of wealth assets, which includes S$6bn from high net worth individuals.
Singapore outpaced Hong Kong for sales of unit-linked investment and savings products in the first half of 2016. As the industry awaits third quarter data, Bryan Low of Provisca reflects on the trends seen in the figures so far.
Insurance giant Axa is set to merge its life and general insurance businesses in Singapore.
Farringdon Asset Management, part of the Malaysia-based Farringdon Group, has received a licence to operate in Singapore where it will focus on focus on providing expat clients with discretionary portfolio management services.
Representatives from Europe and Asia Pacific’s regulatory bodies met in Singapore on Friday to hold “in depth, closed-door” discussions on financial regulation and collaboration.
