Wealth management fees hit 5-year high in Singapore
Wealth management fees more than doubled between 2010 and 2015 at Singapore’s three banks, as Asia Pacific surpassed North America as home to the largest number of high net worth individuals.
Singapore
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China has a credit problem and it knows it
Anybody who says that China doesn’t have a credit problem is lying because when that much credit is pumped into the system there is no way that every single loan is a sound investment, according to Schroders’ head of Asian equities Singapore, Lee King Fuei.
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Zurich affirms commitment to Hong Kong and Singapore
Zurich Insurance Group’s existing operations in Hong Kong and Singapore have emerged intact from the current global review into the company’s operations.
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Indonesian tax amnesty a boost for wealth management sector
Indonesia is to offer generous incentives for tax evaders to regularise their finances, a move that has been welcomed by the country’s wealth managers, reports Reuters.
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OMI tackles high net worth channels with new investments
One year on from rebranding Skandia International as Old Mutual International, sales director Marcel Bradshaw talks about the positive impact of the process, the rationale behind the company’s sponsorship of the England rugby teams and the shift to outsourced investment solutions
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Singapore can still be a honeypot, says Globaleye’s Murphy
Despite an exodus of life companies and increasing oversight, Globaleye’s Byron Murphy says Singapore, in offering high-quality advice, remains a honeypot for IFAs.
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Goldman Sachs AM enters Singapore retail funds market
Goldman Sachs Asset Management (GSAM) has announced plans to launch a range of 13 investment funds to retail investors in Singapore over the next two months after receiving permission from the Monetary Authority of Singapore.
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Keppel Corp to consolidate asset management business
Singapore-based Keppel Corporation plans to consolidate its four asset management businesses under wholly-owned subsidiary Keppel Capital, in a move that could see the company venturing into regulated investment and asset management activities.
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Tan out, Barrows heads Hong Kong after FPI restructure
Charles Barrows has been named the new managing director of Friends Provident International Hong Kong with immediate effect, following a restructure which saw the departure of former Asia chief James Tan.
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Zurich exit from Singapore highlights industry change
The Zurich Insurance Group’s decision to pull out of the international life business in Singapore, where it had been a big part of the market for a long time, was the top story from Asia, among a series about industry restructurings which dominated coverage in 2015.
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Standard Chartered merges top private bank & wealth mgt roles
Standard Chartered Bank has combined the leadership of its private banking and wealth management divisions into a single global job, which will be taken on by Didier von Daeniken who will be based in Singapore.
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Zurich promotes Shaughnessy to head of Global Life
Gary Shaughnessy, chief executive of Zurich UK Life, has been named chief executive of Zurich’s Global Life business and appointed to the group’s executive committee.