Singapore’s financial advice market just got more competitive after DBS opened a financial planning centre that offers free advisory services but does not sell any financial products.
Category: Business moves
Aberdeen buys Value Partners’ Taiwan fund business
Aberdeen Asset Management has expanded its Taiwan business by acquiring full ownership of Value Partners Concord Asset Management.
BEA, Harvest to test Swiss-HK MRF scheme
Harvest Global Investments became the first fund house to apply for the mutual fund cross-border sales scheme to tap Swiss investors, and BEA Union Investment intends to follow.
Schroders sells China offshore and buys onshore
The firm’s China-focused portfolio has been taking profits from offshore-listed equities and increasing exposure to both A-shares and mainland bonds in the past few months, said Ricky Tang, Schroders multi-asset product manager.
Indosuez PB targets CIC in Asia
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.
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.
