Sun Life Financial (SLF) has announced that it will take 100% ownership of the Indonesia-based life insurer PT CIMB Sun Life (CSL), after signing an agreement to purchase an additional 51% stake on top of the 49% it already owns.
Category: Business moves
Credit Suisse to cut 2,000 more jobs, save another CHF800m
Credit Suisse is to eliminate another 2,000 jobs and make an additional CHF800m (£576.1m, $824m, €733.8m) in cost savings, as it accelerates the pace of its restructuring following disappointing results in the final quarter of 2015.
DBS front runner for Barclay’s HK and Singapore wealth units
Singapore’s DBS Group is reported to be the front runner to buy Barclay’s Hong Kong and Singapore private wealth units, reports the Straits Times.
Further expansion planned as Jupiter reports strong full year inflows
A more than 100% increase in net inflows for the full year to 2015, saw Jupiter Fund Management report a rise in total assets under management to £35.7bn ($49.7bn) from £31.9bn.
CPF swaps out Morningstar for Mercer
After eight years using Morningstar to support due diligence for its fund selection, Singapore’s Central Provident Fund Board has switched investment consultants to Mercer.
Banks file bids for Barclays Asia private wealth unit
DBS Group, OCBC and Julius Baer have reportedly submitted non-binding bids for Barclay’s Asian private wealth business.
Old Mutual buys AAM Advisory, focuses on Singapore and HK only
Old Mutual Wealth has today signed an agreement to buy the Singapore-based expat-focused financial advisory firm AAM Advisory.
BNPP IP links with Orion Partners in Asia
The asset management arm of BNP Paribas and Asia-focused alternative investment firm Orion Partners have announced a strategic partnership.
Barclays chopping more jobs in Asia
Asia is expected to bear the brunt of the cuts under chief executive Jes Staley’s three-year cost reduction plan, which involves eliminating 19,000 jobs.
Julius Baer takes stake in Shanghai wealth manager
The Swiss firm will purchase a $17.5m stake in Jupai, a US-listed Chinese wealth manager.
