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Market Updates and Analysis

Neuberger Berman bolsters emerging markets debt platform

Investment management firm Neuberger Berman has hired 22 emerging markets debt professionals - and in the process has formed a new platform to provide hard and local currency mandates, as well as emerging market debt corporate bond and dedicated Asian debt strategies.

Client onboarding software firm expands into Asia

Client onboarding software specialist Appway has officially announced the launch of its hub in Asia.

Edelweiss Global Wealth appoints managing partner

Edelweiss Global Wealth Management has appointed Ambareesh Baliga as managing partner under Anshu Kapoor.

Singapore finalises regulation on tax crimes

The Monetary Authority of Singapore (MAS) has issued a response to public feedback on its paper, entitled "Designation of Tax Crimes as Money Laundering Predicate Offences in Singapore".

Credit Suisse appoints new chief investment officer for wealth

Michael Strobaek is joining Credit Suisse as chief investment officer (CIO) for the private banking and wealth management division, effective 1 May.

Jersey courts create new trust-related regime

The Royal Court of Jersey has issued new guidance on the responsibilities of trust protectors.

Manulife Singapore announces key management appointments

Manulife Singapore has made a number of key appointments in its senior leadership team for distribution, operations and client experience - as part of the firm's growth strategy.

New transparency initiative around ILAS products in Hong Kong

As of the end of June, banks in Hong Kong will be required to make use of a standardised Important Facts Statement (IFS) when selling investment-linked assurance scheme (ILAS) products.

Hong Kong regulator reprimands firm for insufficient internal controls

Hong Kong's Securities and Futures Commission (SFC) has reprimanded Sun Hung Kai Investment Services (SHKIS) and fined the firm HK$1.5 million for internal control failures relating to an erroneous buy order for 2 billion shares of China Life Insurance Company.

New agreement brings tax benefits between Guernsey and Hong Kong

Guernsey has signed a Double Taxation Arrangement (DTA) with Hong Kong, meaning that individuals or companies with interests - both corporate and personal - in a jurisdiction that is not their "home" jurisdiction need not be taxed by both sets of authorities on the same income.

Standard Life announces emerging markets expansion

Standard Life has announced that it is setting up a new unit in Hong Kong, Singapore and Dubai to oversee and support its Asia and emerging markets units.

Fund managers more optimistic about emerging market equities

Around 57% of global fund managers covered in HSBC's latest fund managers' survey continue to favour emerging market equities in the second quarter of 2013 - with nobody holding "underweight" views towards this asset class.

EFG completes sale of EFG Financial Products

EFG International this week completed the sale of its remaining 20.25% stake in EFG Financial Products to Notenstein Private Bank, a subsidiary of Raiffeisen Switzerland.

Creating travel and lifestyle experiences for wealthy clients

Beat Bopp of Seventheaven explains how and why he creates unique travel experiences for a range of wealthy clients.

Coutts hires new head for North Asia

Coutts has hired David Lam as managing director and head of its business in North Asia, effective 29 May.

RBC further expands Asian wealth business

RBC Wealth Management has made four senior appointments to bolster its Asian business, in Hong Kong and Singapore.

UBS lures new group chief information officer

Oliver Bussmann will join UBS from SAP as group chief information officer on 1 June.

Hong Kong households retire income-poor, says new study

According to a new report by Manulife Asset Management, despite their relatively high levels of accumulated wealth, many retired individuals in Hong Kong have comparatively low levels of income security.

Bank of East Asia revamps branding

The Bank of East Asia has introduced a new look for its brand, being adopted in phases across the markets in which the bank operates.

Matthews Asia launches two China-focused funds in Hong Kong

The first of these funds allows investors to gain exposure to a portfolio dedicated exclusively to investing in Chinese dividend-paying companies, focusing on firms which are well-positioned to grow future dividends while providing an attractive dividend yield.

Regulators seek feedback on guidelines for financial benchmarks

To enhance the integrity, reliability and oversight of benchmarks used in global financial markets, the International Organization of Securities Commissions (IOSCO) has published this week a consultation paper called "Principles for Financial Benchmarks".

Hong Kong watchdog issues more industry bans

Hong Kong's securities regulator has issued a 10-month industry ban to Luk Ping, following an investigation into Luk's handling of client accounts at OSK between March 2008 and June 2011.

Art auctioneer eyes vast pool of wealthy Chinese

Just days after a small Chinese ceramic bowl sold for HK$74 million (US$9.5 million) at a Sotheby's auction in Hong Kong, Christie's has announced its plans to hold auctions in Shanghai from autumn 2013.

Deutsche launches five new Asia-focused ETFs

Deutsche Asset & Wealth Management has launched five new Asia-focused ETFs in Hong Kong, with the aim of enabling customers to invest in both developing and highly-developed markets.

BlackRock appoints head of retail distribution in Singapore

BlackRock is bolstering its Asia Pacific franchise by naming Sabrina Gan as director and head of retail distribution in Singapore.

Hong Kong fines China Everbright Securities and staff member

Hong Kong's Securities and Futures Commission (SFC) has reprimanded China Everbright Securities and fined it HK$1.2 million (US$155,000) for internal control and supervisory failures.

iShares strengthens ETF capital markets operations in Asia

BlackRock is further developing its ETF capital markets operations in Asia with the appointment of Susan Chan as head of Asia Pacific iShares capital markets.

Credit Agricole to lose Asia private banking chief

Georges Zecchin will leave his role as chief executive of Credit Agricole Suisse in Asia by the end of June 2013 to pursue personal interests.

China tightens rules on wealth products

China's banking regulator has introduced quantitative restrictions in relation to wealth management products offered by banks, in an effort to reinforce policy measures aimed at limiting risks.

Avaloq hires new general manager for Asia Pacific

Avaloq has appointed Peter Scott as its new general manager for Asia Pacific following his arrival from Misys on 1 April.



 


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