This week…
| People moves |
| Standard Chartered Private Bank has appointed Michelle Ho as a managing director for Greater China and North Asia. Based in Singapore, she reports to Teddy Kwong, market head for Greater China and North Asia, and Andrew Ho, market head for South and Southeast Asia. Ho is one of the 50 bankers and advisors that the bank has hired to cover Greater China and North Asia. Before Standard Chartered, she was a managing director and team leader at Bank of Singapore…
DNCA Investments, a French asset manager and an affiliate of Natixis Global Asset Management, has appointed Pascal Gilbert and François Collet as international absolute return bond fund specialists. Their appointments extend the firm’s bond portfolio management capabilities and enable DNCA to offer new absolute return strategies on international bonds… |
| Firm news |
| Bank of China has been ranked as China’s “most trustworthy bank”, according to a survey conducted by Brand Finance. China Merchants Bank was ranked as the second most trustworthy bank, and is the only bank to surpass Bank of China as the most popular bank for consumers to switch to…
Man Group has become a signatory to the United Nations-supported Principles for Responsible Investment (PRI). Founded in 2005, the PRI is a global network for investors committed to integrating ESG considerations into their investment practices, ownership policies and business strategies. Two of Man Group’s investment businesses, discretionary manager Man GLG and systematic equity manager Man Numeric, have been signatories to the PRI since 2012 and 2014, respectively, and has now elevated its commitment to the group level, implementing the principles across its five investment businesses… State Street has launched its growth readiness indicator, a benchmarking tool that enables asset managers and institutional investors to measure their preparedness for future growth against their peers. Users of the tool can assess their growth objectives, existing investment and operational capabilities and future strategies for growth… |
| Regulator news |
| Hong Kong’s Eastern Magistrates’ Court has convicted Etrade Securities (Hong Kong) for actively marketing to the Hong Kong public US brokerage services provided by E*Trade Securities (ETrade US), which was not a licensee of the Securities and Futures Commission. This is the first criminal conviction secured by the SFC against an entity for the offence of actively marketing regulated activities conducted outside Hong Kong without a licence. ETrade HK pleaded guilty and was fined HK$20,000 ($2,561) and ordered to pay the SFC’s investigation costs.
The Monetary Authority of Singapore has established a Cyber Security Advisory Panel (CSAP), comprised of cybersecurity leaders globally. The CSAP will advise MAS on strategies to enhance the resilience of Singapore’s financial sector against cyberattacks. It will provide MAS global perspectives on evolving technologies and cyber threats and their implications for financial services firms, as well as insights on best practices in cybersecurity strategies… The Hong Kong Monetary Authority has signed an agreement with the International Financial Corporation, a member of the World Bank Group, committing $1bn to the MCPP debt mobilisation platform for emerging markets. The HKMA will support IFC in financing projects across around 100 countries, including infrastructure, telecom, manufacturing, agri-business and services. |
| Fintech |
| Hong Kong Cyberport and the Hong Kong Monetary Authority sent a fintech delegation to London from 19 September-21 September to expand the partnership network for fintech industry players between the two cities. The delegation comprised around 70 participants, including representatives from the Financial Services and the Treasury Bureau and the Information and Technology Bureau of the Hong Kong SAR Government, the HKMA, banks, investors, professional bodies and fintech start-ups from Cyberport… |
