The former chief executive for Asia of Swiss private bank BSI has settled a lawsuit against the bank for freezing his bonus, two months after Singapore’s regulator, in a rare move, ordered that the bank be shut down.
A strong second quarter saw Singapore’s life insurance industry report 13% growth in new business premiums between January and June 2016, with single premiums up 28% compared with a year ago.
The Monetary Authority of Singapore (Mas) has set up an international technology advisory panel (Itap) to discuss fintech developments around the world and how Singapore can harness new technologies to enhance its financial services industry.
Recruiting more diverse IFAs is key to tapping new markets and growing business, but attracting fresh blood into the industry remains a challenge, industry experts have said.
Lapses in anti-money laundering and other scandals have “made a dent” in Singapore’s reputation as a “clear and trusted financial centre”, said Ravi Menon, managing director of the Monetary Authority of Singapore (Mas).
The UK-headquartered insurer has set up a financial advisory firm in Singapore called Aviva Financial Advisers, offering advice on a full range of life, health, general insurance, and investment products.
Chief executive of Axa Life Insurance Singapore, Glenn Williams, has stepped down after 15 years with the Axa group following a restructure of the business.
Singapore has announced plans to take action against four major banks, including a Swiss private bank, over their involvement with the scandal-ridden Malaysian sovereign wealth fund 1Malaysia Development Bhd (1MDB).
Aegon UK’s chief financial officer is to depart, while both the UK and Australian governments have announced further political manoeuvring following the Brexit referendum and Australian national elections.
The former chief executive of BSI Bank in Singapore, Hans-Peter Brunner, is suing the Swiss bank for freezing his bonus two months after the Singapore regulator ordered that the bank be shut down.
Singapore’s Ministry of Finance (MOF) has opened a public consultation on the automatic exchange of information (AEOI) in tax matters, known as the Common Reporting Standard.
Luxembourg and Philadelphia-headquartered Lombard International has received approval for a brokerage licence for its Hong Kong subsidiary, Lombard International Brokers.
