Chinese regulators have approved Hang Seng Bank’s application to take a majority stake in a new asset manager based in Qianhai, Shenzhen.
Category: Business moves
UK firm jumps at China’s $7trn bond market
UK-based Insight Investment has become the first overseas financial institution to access China’s interbank bond market.
Regional AM partnerships on the rise
More Asian asset managers are partnering with peers to grow assets and extend distribution channels, according to consultant Cerulli Associates.
CSRC exits signal shakeup
The China Securities Regulatory Commission has lost five senior officials recently, according to mainland media.
Vontobel AM targets Taiwan retail base
Vontobel Asset Management has launched 11 funds in Taiwan using Eastspring Investments as the master agent.
Edmond de Rothschild, Samsung ink partnership
The partnership involves Samsung’s forthcoming European high dividend fund.
Investec WM opens in Hong Kong
Investec Wealth and Investment has set up its first wealth management office in Asia, said Catherine Kirchmann, head of Hong Kong and divisional director.
JPMorgan chops Asia wealth management workforce by 5%
JPMorgan Chase has cut around 30 jobs at its Asian wealth management businesses in Hong Kong and Singapore, as the US bank increases its focus on a smaller pool of wealthier clients.
China’s Huatai buys US-based WM tech firm
Huatai Securities, China’s biggest brokerage by trading volume, acquired California-based Asset Mark for $780m.
OCBC to buy Asia WM business of Barclays
After much speculation, the acquisition has been announced and it will be done via OCBC’s wholly-owned private banking unit Bank of Singapore.
