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Category: Finance

Retail Asia03/09/2021
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Finance

UBS Takes Stake in AI Advisor Platform

1min0
UBS is taking a stake in an artificial intelligence platform that matches institutional clients with investment experts. UBS has invested $5 million in Lynk in its latest funding round, taking the technology company’s total funding to $35 million, Lynk said in a press release Wednesday. Lynk says it has a network of more than 840,000 […]
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Retail Asia02/09/2021
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Finance

Nordea AM to Open ESG Hub in Singapore

2min0
The hub will enable Nordea to to enhance its local servicing, ESG capabilities, investment platform and distribution reach in the region. The asset management arm of financial services group Nordea is planning to open an ESG hub – its first outside its Nordic headquarters – in Singapore, in response to its growth and successes in the region, […]
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Retail Asia02/09/2021
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Finance

SeABank offers shares below half the market price

2min0
Private lender SeABank is offering 136 million shares to existing shareholders at the price of VND15,000 (over $0.6), lower than market value in late August by 58 percent. New share transactions are expected to take place in the last two quarters of this year, lifting SeABank’s chartered capital to VND14.784 trillion. Foreign shareholders also have […]
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Retail Asia02/09/2021
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Finance

SGX to Ease Rules for SPAC Listings

2min0
Singapore Exchange is reportedly readying to issue easier rules for the listing of special purpose acquisition companies in the city-state. SGX is preparing to be the first major Asian bourse to accept SPAC listings, according to a Reuters report citing unnamed sources. The exchange’s regulatory arm is now considering easing a minimum S$300 million ($223.2 million) market value […]
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Retail Asia02/09/2021
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Finance

UBS Misses Mark With Coffee-Coded Survey

4min0
The Swiss bank wants its domestic employees to talk about their ethnicity – coming uncomfortably close to long-held stereotypes in the process. Zurich-based UBS asked its 21,598 Swiss-based employees to fill out a survey describing their ethnicity, telling them ethnic diversity is a key pillar in achieving its strategic goals. The survey – ethnic diversity […]
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Retail Asia01/09/2021
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Finance

Vietcombank gets new chairman

1min0
Vietnam’s biggest state-owned lender, Vietcombank, has named Pham Quang Dung as its new chairman until 2023. Dung, 48, has been its CEO and a member of the board since 2014. Nguyen Thanh Tung, deputy director, temporarily takes over as CEO until a new person is appointed. Dung has 27 years’ experience in the financial and […]
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Retail Asia30/08/2021
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Finance

UOB Shuffles Board

2min0
UOB has announced changes to its board, including the addition of a 40-year banking veteran as its new independent director. Tracey Woon joins UOB as an independent director as well as a member of its audit committee and board risk management committee, according to a statement, effective September 1. Woon, 65, is currently a director at […]
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Retail Asia27/08/2021
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Finance

UBS Poaches Middle East Team From Rival

2min0
The Swiss wealth giant nabbed five wealth managers from Credit Suisse in the United Arab Emirates. Zurich-based UBS is expanding in the Middle East by hiring Georges El Khoury, currently country head in the U.A.E. for Credit Suisse. El Khoury will report to Ali Janoudi, an influential UBS group managing director who oversees the Middle East and Africa private […]
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Retail Asia27/08/2021
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Finance

SHB sells consumer finance unit to Thai lender

1min0
The Saigon-Hanoi Commercial Joint Stock Bank will sell a 50 percent stake in its consumer finance division, SHB Finance, to Thailand’s Bank of Ayudhya. Vietnam’s fifth-largest bank said in a statement it would sell the remaining 50 percent to Bank of Ayudhya after three years. Bank of Ayudhya said in a stock market filing that […]
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Retail Asia26/08/2021
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Finance

PayPal Launches Singapore Hiring Spree

3min0
The U.S. online payments giant is expanding the Singapore-based workforce by 25 percent to support the region’s growing demand for digital solutions. Some 150 job openings are on offer at PayPal’s its international headquarters in Singapore, under the Infocomm Media Development Authority of Singapore’s TechSkills Accelerator (TeSA) program and supported by Digital Industry Singapore (DISG), according to an […]
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Retail Asia26/08/2021
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Finance

Indonesia’s Bank Central Asia Targets Digital Growth

2min0
Banks are playing catch-up to technology players in one of the world’s largest unbanked markets. Bank Central Asia (BCA) is boosting its digital capabilities amid increased competition from tech players in the banking space, according to a report on Wednesday. Indonesia’s biggest lender by market value will be investing $200 million to help its month-old […]
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Retail Asia26/08/2021
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Finance

Expats Pay Packages Fall in Singapore, Hong Kong

2min0
Expat packages have taken a hit as a result of lower cost of benefits and a dip in salaries. The average pay package for a mid-level expatriate in Singapore fell by $7,284 a year, and now stands at $225,171 annually – the 17th highest in the world, ECA International said. However, cash salaries in the republic stand […]
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Retail Asia26/08/2021
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Finance

Banks Put Kibosh on Adult Content, OnlyFans Says

2min0
The content platform defended its ban on pornography, saying it had been prompted do to so because of difficulties getting financial services if it didn’t. OnlyFans banned pornographic content after being denied interbank wires by banks including New York-based BNY Mellon, the London-based start-up’s founder-CEO Tim Stokely said in an interview. The decision unleashed a maelstrom among an estimated […]
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Retail Asia26/08/2021
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Finance

Citi Eyes Crypto Opportunities

2min0
The U.S. bank joins its peers in ramping up crypto-related efforts as client demand spikes  Citi is awaiting regulatory approval to trade bitcoin futures on the Chicago Mercantile Exchange (CME), Coindesk reported on Wednesday, citing two sources, including one at the bank. One of the sources said the bank is actively recruiting traders to its London crypto trading desk […]
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Retail Asia25/08/2021
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Finance

StanChart Exec Joins Blockchain Startup

2min0
Taipei-headquartered XREX has named a managing director in Singapore as it sets its sights on expanding its platform in the region. Taipei-headquartered XREX has appointed Christopher Chye as managing director of XREX Singapore and director of product. In this dual role, he will oversee XREX’s businesses and operations in Singapore and play an instrumental role in […]
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Retail Asia25/08/2021
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Finance

Indonesia’s Bank Central Asia Targets Digital Growth

2min0
Banks are playing catch-up to technology players in one of the world’s largest unbanked markets. Bank Central Asia (BCA) is boosting its digital capabilities amid increased competition from tech players in the banking space, according to a «Bloomberg» report on Wednesday. Indonesia’s biggest lender by market value will be investing $200 million to help its month-old digital […]
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Retail Asia25/08/2021
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Finance

HSBC Bolsters ASEAN Sustainability

2min0
HSBC strengthens its sustainability-related capabilities in Southeast Asia with the appointment of a newly created role. Kelvin Tan has been named head of sustainable finance and investments, ASEAN, according to a statement, reporting to Singapore chief executive Kee Joo Wong. Based in Singapore, Tan will be tasked with supporting Singapore-based clients with their low carbon transition needs. He will oversee the […]
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Retail Asia24/08/2021
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Finance

Deutsche Expands Wealth Unit in Southeast Asia

2min0
Deutsche Bank continues to expand its wealth business in the region, particularly in southeast Asia where it hired a new investment management team head. Alania Concepcion joins Deutsche Bank Wealth Management as a director and investment management team head, according to a statement, reporting to managing director and head of Southeast Asia investment management Coo-Way Law. Based in Singapore, […]
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Retail Asia24/08/2021
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Finance

Hang Seng Replaces Ailing Chief

2min0
Major local lender Hang Seng Bank has named a new chief executive to replace Louisa Cheang, who will extend her leave of absence over medical reasons. Diana Cesar has been appointed chief executive at Hang Seng, according to a statement, effective September 1. Cesar joins from HSBC – Hang Seng’s top shareholder and parent – where […]
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