Investec Wealth and Investment has set up its first wealth management office in Asia, said Catherine Kirchmann, head of Hong Kong and divisional director.
Category: Business moves
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.
Hong Kong watch retailer to buy Liechtenstein private bank
The Liechtenstein-based private banking arm of Swiss firm Valartis Group is being sold to Hong Kong luxury watch retailer, Citychamp Watch & Jewellery Group.
China Post Global buys European Exchange Traded Funds from RBS
China Post & Capital Global Asset Management has acquired 10 Europe-listed ETFs from Royal Bank of Scotland as RBS continues its strategy of selling its non-core UK businesses.
Sun life Financial to own Indonesian life insurer outright
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.
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.
