Zurich-based private bank, EFG International, has agreed a deal with Brazilian bank BTG Pactual to buy its Lugarno-based private banking unit BSI, one of the oldest Swiss banks, for about CHF1.33bn ($1.34 bn, £940m) in cash and stock.
Category: News
Templeton liquid alts targets Singapore retail base
Regulators have permitted the firm’s liquid alternatives fund to cut the minimum investment to less than S$1000.
Head of China’s CSRC removed
Xiao Gang, head of the China Securities Regulatory Commission, has been replaced after overseeing a period of wild swings in China’s domestic markets.
Second property-backed Chinese asset manager defaults
Xin Qi, a Chinese asset management firm backed by property projects, has defaulted on CNY1.9bn (£203m, $291m, €261m) worth of investments, affecting thousands of retail investors across mainland China.
BEA: China’s HNWI client base increasing in Hong Kong
Personal wealth is flowing out of China as domestic investors grow increasingly concerned over the markets and economic growth, according to Bank of East Asia.
The FSA Spy market buzz – 19 Feb 16
Changes at Neuberger Berman; UBS on ETFs; Hang Seng’s customers love risk; DBS loses a crown; Is Maybank confused?; Who wants to be a Singaporean stockbroker? and much more.
BMO to launch four ETFs in Hong Kong downmarket
Fifteen months after bringing its first three ETFs to Hong Kong, the firm is launching four more on February 18.
Schroders names HK distribution head
Ex-Aussie superfund CEO Chris Durack has assumed the newly-created role of head of distribution in Hong Kong.
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.
OPINION: London vs Hong Kong – out of the frying pan…?
Even by the very nature of its name, HSBC has always been the most Asian-facing of the multinational super banks, so why does it want to extend its stay in London?
