As private bank consolidation continues, Indosuez Wealth Management, the private banking arm of the French bank Credit Agricole, aims to acquire the private banking divisions of Credit Industriel et Commerial in Singapore and Hong Kong.
Category: Business moves
Deutsche Bank WM in Asia hiring spree
Deutsche Bank Wealth Management is planning to hire 100 client-facing employees this year, in which half of them will focus on high net worth individuals in Asia-Pacific.
It’s official: Janus Henderson Investors
US-based Henderson and the UK’s Janus Capital have completed their all-stock merger of equals to form Janus Henderson Group, according to a statement from the new firm.
Vanguard joins global firms in China WFOE setup
Vanguard is the latest firm to launch a wholly foreign-owned enterprise (WFOE), enabling it to carry out various onshore investment services, according to a statement from the firm.
Industrial Securities moves into private banking
Fujian-based Industrial Securities has set up a private banking arm serving China’s high net worth individuals with RMB 6m ($873,000) or more of investable assets.
BNPP IP rebrands and targets China
BNP Paribas Investment Partners is targeting China, Germany and the US as the three key markets where it can accelerate sales growth significantly, the firm revealed in a 2020 strategic plan statement.
OCBC sets up wealth management in Indonesia
Indonesia’s tax amnesty has prompted Singapore’s OCBC Bank to launch an onshore private banking business.
HNA looks to buy a stake in Value Partners
Value Partners’ stock price jumped 8.6% before suspension on Monday amid reports that China’s HNA Group is looking to buy a stake in the firm.
Singapore’s GIC slashes UBS stake at a loss
Singapore’s state-run GIC is dumping 93 million shares of UBS at a loss, according to a statement from the sovereign wealth fund.
NAB exit continues Asia’s PB consolidation
The National Australia Bank has announced the sale of its private wealth business in Singapore and Hong Kong to Singapore’s OCBC.
