The Hong Kong branch of Coutts has been fined by the Hong Kong Monetary Authority (HKMA) for failing in its anti-money laundering (AML) and counter terrorist financing (CTF) checks.
Coutts must pay out $6.55m (CHF 6.5m) for serious breaches of anti-money laundering rules in connection with the scandal-torn Malaysian 1MDB sovereign wealth fund.
The Monetary Authority of Singapore has slapped a ban on an ex-Goldman Sachs banker while Standard Chartered and Coutts have been hit with record fines for their roles in Malaysia’s 1MDB scandal.
Industry sources say that the Federal Open Market Committee’s decision to increase interest rates by 0.25% tilts their preference toward developed market equities and the banking sector.
Market volatility is driving investor interest to the Eurozone and Japan, according to Aman Dhingra, executive director at Coutts in Singapore.
Nomura has appointed ex-Coutts MD Johnny Heng as its chief investment officer of wealth management for Asia ex-Japan.
Noah Holdings has entered into a pact with Union Bancaire Privée as both firms aim to grow their cross-border businesses.
Spy has been out with his magnifying glass pounding the streets and eavesdropping on gossip in cafés, but the summer lull has arrived and the world of Asian asset management is getting a little siesta time. Nonetheless, Spy has unearthed a few juicy tidbits on the jobs merry-go-round. Whilst savouring a fine Laphroaig (10-year-old vintage), Spy heard that Heidi […]
Concern over risk in China is easing, prompting European and UK fund selectors to inch up their exposure to Asia.
As equity indices gain traction, investors are selling out of gold exchange-traded funds (ETFs) at quite a pace, according to data provided by Coutts.