Finance

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Retail Asia18/06/2021

Companies that focus on environmental, social, and governance (ESG) tend to be high-performing companies, therefore investing in a basket of ESG stock will you cannot do too badly with a portfolio ESG stock, DBS chief executive Piyush Gupta said. The truth is that there is a tsunami of money being directed at ESG investments, and […]

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Retail Asia17/06/2021

Singapore-based Finantier has closed an oversubscribed seed financing round at more than 20 times its pre-seed valuation. Finantier plans to strengthen its presence in Indonesia and Southeast Asia after raising seven figures in seed funding in a round led by Global Founders Capital and East Ventures, it announced on Wednesday. Founded in 2020, the fintech […]

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Retail Asia17/06/2021

The bank has priced S$600 million of perpetual capital securities at a fixed coupon rate of 2.55 percent – the lowest for benchmark perpetual securities for banks in Singapore. UOB is piloting the digital issuance of its latest bond offering on exchange-operated digital asset issuance platform Marketnode, the bank said in an announcement on Wednesday. The non-call […]

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Retail Asia17/06/2021

The combined unit will have a 150-strong team and combined assets under management and advice of $53 billion. HSBC Asset Management has announced that it is bringing its alternatives capabilities under a single business unit, HSBC Alternatives, which will comprise of HSBC Alternatives Investments (HAIL), which includes the multi-manager hedge fund and private market teams, […]

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Retail Asia17/06/2021

HSBC has opened access to online trading for private banking clients in Asia as part of $100 million of investment in its core banking and digital platforms in the coming two years. HSBC Private Banking has launched its online trading platform in Asia, according to a statement, opening access to 10 financial markets including Hong […]

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Retail Asia16/06/2021

The country’s finance regulator is banning licensed digital asset exchanges from trading meme coins, fan-based tokens, NFTs and social coins as part of its ongoing regulatory action against crypto trading. The Thai Securities and Exchange Commission (SEC) is prohibiting exchanges in the country from providing services related to utility tokens or cryptocurrencies to ensure customer protection and […]

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Retail Asia16/06/2021

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The country’s finance regulator is banning licensed digital asset exchanges from trading meme coins, fan-based tokens, NFTs, and social coins as part of its ongoing regulatory action against crypto trading. The Thai Securities and Exchange Commission (SEC) is prohibiting exchanges in the country from providing services related to utility tokens or cryptocurrencies to ensure customer protection […]

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Retail Asia16/06/2021

Swiss bank UBS enticed a key technology banker back, after a six-month stint at Wells Fargo. UBS is hiring Paul McEwen as its head of technology services. McEwen had previously overseen the Swiss bank’s cloud services before leaving six months ago for Wells Fargo, which hired him as head of the infrastructure. He will be back at […]

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Retail Asia16/06/2021

The bank will shut its consumer unit serving small businesses in Singapore in mid-August. Citibank has decided to close its Citibusiness unit, which will affect some 2,000 customers, following an ongoing strategic review of the business. About 20 to 30 staff will be affected by the changes, saying that Citi would be re-allocating its resources […]

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Retail Asia15/06/2021

The Swiss bank is among the suitors remaining for Dutch asset manager NN. The competition for NN is strong – but UBS may have an ace up its sleeve. The sale of Dutch money manager NN is entering the next round with UBS, DWS, Prudential, and U.S.-based Nuveen submitting bids. None of the reported suitors […]

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Retail Asia15/06/2021

The bank will shut its consumer unit serving small businesses in Singapore in mid-August. Citibank has decided to close its Citibusiness unit, which will affect some 2,000 customers, following an ongoing strategic review of the business. About 20 to 30 staff will be affected by the changes, a bank spokesperson said, saying that Citi would […]

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Retail Asia15/06/2021

A key private banker covering the Russian market has left Bank of Singapore. Vadim Bondarev, head for Russia and Eastern Europe, is leaving Bank of Singapore (BoS), sources familiar with his exit said. A spokesperson from the bank confirmed this information. Bondarev joined BoS in 2014 and was responsible for covering ultra-high-net-worth clients from Russia […]

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Retail Asia15/06/2021

Bank of Singapore bolsters its business with the hire of a 30-year wealth planning veteran from UBS. Bank of Singapore hires Paul Chua as its global head of wealth planning, according to a statement, effective June 28 this year. In his Singapore-based role, Chua reports to global head of products Lim Leong Guan. Chua succeeds Tariq Salem who remains with […]

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Retail Asia15/06/2021

Citi has hired a former partner from Ernst & Young to lead the upcoming launch of a new digital payment solution in the region. James Lloyd joins the treasury and trade solutions (TTS) unit as its Asia Pacific head of Spring by Citi – upcoming digital payments offering – according to an internal memo. In […]

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Retail Asia14/06/2021

The initiative will remove one of the roadblocks – the need for physical signatures – in fully digitalizing the documentation process. UOB is starting a 12-month trial to test the use of Government Technology Agency’s (GovTech) Sign with Singpass among its retail and corporate customers, which will be used to confirm transactions such as individual […]

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Retail Asia14/06/2021

Chinese users were reportedly unable to find results for popular cryptocurrency exchanges on major search engines in the country. Keyword searches for trading platforms such as Binance, OKEx and Huobi yielded no results, according to various media outlets. The searches were conducted on major search engines like Baidu, Sogou, Zhihu, and Weibo. This marks yet […]

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Retail Asia14/06/2021

UBS Global Wealth Management has hired a former J.P. Morgan executive to join its direct investment group. Edith Chan joins UBS Global Wealth Management as its Greater China head of direct investment group distribution, according to an internal memo effective June 21. A spokesperson for the bank confirmed the hire. Chan rejoins the Swiss bank […]

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Retail Asia14/06/2021

Milan-headquartered UniCredit has bolstered its Asia business with the hire of a head of Korea coverage from Commerzbank. Jaeho Mike Hyun joins the Italian lender as its head of Korea coverage, according to a report from «GlobalCapital», to oversee financial institutions and corporate clients for the market. In his Hong Kong-based role, Hyun reports to Asia Pacific chief […]

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Retail Asia11/06/2021

The country – the world’s fourth most populous – is its third overseas market, following launches in Thailand and Taiwan. Japan-headquartered mobile and internet services firm Line has launched a digital banking platform in Indonesia in collaboration with Bank KEB Hana Indonesia, a subsidiary of South Korea’s Hana Bank, and LINE Financial Asia. Line Bank […]

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Retail Asia11/06/2021

The initiative will remove one of the roadblocks – the need for physical signatures – in fully digitalizing the documentation process. UOB is starting a 12-month trial to test the use of Government Technology Agency’s (GovTech) Sign with Singpass among its retail and corporate customers, which will be used to confirm transactions such as individual […]

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