JM Financial Ltd said that it would nominate former Citigroup Inc. chief executive officer (CEO) Vikram Pandit as non-executive chairman of an entity it proposes to start to enter the INR 75 trillion banking industry.

Singapore will significantly strengthen its framework for international cooperation to combat cross-border tax offences, said the Monetary Authority of Singapore (MAS) in a statement.

Hong Kong's Securities and Futures Commission (SFC) has begun a three-month consultation on proposals concerning the professional investor regime and the client agreement requirements in the Code of Conduct.

While the relaxation of RQFII rules provides new opportunities for investors in Hong Kong to gain exposure to RMB assets in China, a recent survey has shown that RQFII products are not preferred tools for personal investment portfolios in 2013.

The UK's HM Revenue and Customs (HMRC) is working with the US and Australian tax administrations to analyse data which reveals extensive use of complex offshore structures to conceal assets by wealthy individuals and companies.

A study by Fidelity Investments has shown that the independent channel is benefiting most from advisers on the move, and is also yielding the greatest compensation increases.

Ahead of the forthcoming G8 and G20 meetings on tax transparency, Peter Harwood, Guernsey's chief minister, has announced the island's support for greater global tax transparency.

BlackRock's Global Multi-Asset Income Fund is now available for retail investors in Hong Kong.

Marco Tang has left JP Morgan Asset Management to join Baring Asset Management in a newly-created senior role of head of sales, client service and business development for mutual fund distribution, across Hong Kong, China and Singapore.

Rajiv Anand is to leave Axis Asset Management to take up a senior role within Axis Bank.

RBC Wealth Management has strengthened its Indonesia-focused sales team with three senior hires in Singapore.

The growing number of Chinese high net worth (HNW) individuals - defined as those with at least RMB 10 million (US$1.6 million) in investable assets - are increasingly focused on wealth preservation as their primary objective.

A double-taxation avoidance agreement between Hong Kong and Malaysia has entered into force, the Financial Services & the Treasury Bureau has announced.

Vanguard has launched its intermediary business in Hong Kong, with a view to widening access to its products for retail investors across Asia.

The UBS Optimus Foundation has opened a regional office in Hong Kong to spearhead its operations in Asia.

Global flows in exchange-traded products (ETPs) slowed in April to US$10.3 billion, although year-to-date inflows of US$79.9 billion continue to outpace last year’s record of US$66.3 billion.

A growing number of mainland Chinese want to travel, work or study overseas, according to a new HSBC survey.

JTC Group and Kensington Trust Group have announced a strategic alliance to create a global offering of trust, fiduciary and corporate services, and fund administration.

EuroFin Asia Group has formally signed and adopted the UN Principles for Responsible Investment.

Myanmar, and particularly Yangon, has the potential to grow at a similar rate to that experienced by other South-east Asian countries in the 1990s, with property prices in the capital expected to triple between 2012 and 2016.

ANZ has hired Manfred Liechti as managing director global private banking, reporting to Joyce Phillips, chief executive for global wealth.

British overseas territories with significant financial centres have signed up to a tax information sharing agreement, marking a turning point in the fight against tax evasion and illicit finance.

OLZ Wealth Management has decided to close in Singapore - and in the process Sandro Steiner, managing partner of the office, has resigned.

Stephanie Lim, previously chief investment officer of UBI Capital Singapore, is joining independent asset management company HP Wealth Management as a senior portfolio management.

According to a study by SEI, Standard Chartered Private Bank and Scorpio Partnership, the banking and wealth management industry is not yet meeting the demands and interests of its clients in terms of engaging them with technology and digital communications.

Liu Xiaoming, the Chinese ambassador to the UK, has pledged to work with Guernsey on a range of initiatives which could be of mutual benefit to the two jurisdictions - including the introduction of Chinese banks to the island.

Wealth management provider Cazenove Capital has received approval from the Securities and Futures Commission (SFC) to open an office in Hong Kong.

A recent report by Robert Half has shown that 93% of senior business and financial services leaders in Asia are struggling to locate skilled financial services professionals, with 92% of respondents concerned about losing top performers in the coming year.

Hong Kong's Court of Final Appeal has dismissed the appeal of Tiger Asia Management and three of its officers against legal proceedings brought by the Securities and Futures Commission (SFC).