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Retail Asia08/12/2020

The Monetary Authority of Singapore and the Smart Nation and Digital Government Group launched the Singapore Financial Data Exchange. This initiative will enable Singaporeans to consolidate their financial information for more effective financial planning. The Smart Nation and Digital Government Group (SGFinDex) is the world’s first public digital infrastructure to use a national digital identity and centrally […]

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Retail Asia03/12/2020

The Private Banking Industry Group launches a talent development initiative aimed at undergraduate students in Singapore. The Private Banking Industry Group (PBIG) in Singapore will look to «enhance the employability and job readiness of students entering the workforce» by offering 200 undergraduate traineeship positions over the next three years, according to a statement. Training will be related […]

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Retail Asia19/11/2020

Lu International, a Singapore-based subsidiary of leading Chinese retail fintech Lufax, is expanding its reach in the region via a strategic partnership with Kasikornbank. The FinVest digital investment platform aims to cater to the growing market of retail investors in Thailand by providing access to a full spectrum of onshore and offshore investment products with low minimum […]

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Retail Asia21/09/2020

The Singapore-based digital wealth engagement solutions provider has its sights on the retail and affluent banking segments in Indonesia. New Wealth has inked a strategic partnership with digital engineering firm HAXtech to distribute its solutions to banks, insurance, and fintech firms in Indonesia, the company announced in a press release on Friday. The partnership promises improved […]

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Retail Asia07/08/2020

Gold prices in Vietnam climbed to a new peak, as global rates hit an all-time high. State-owned Saigon Jewelry Company sold its popular SJC gold at VND60.7 million ($2,628) per tael of 37.5 grams (1.2 ounces) on Thursday morning, up 2.88 percent from Wednesday. Major jewelry company DOJI sold at VND60.3 million ($2,611). The State […]

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Retail Asia29/06/2020

Picture Wealth has completed a A$12 million equity and debt funding round, at it sets its sights on reinventing the country’s financial advisory and superannuation landscape. The fast-growing company has completed late-seed funding round and acquired 100 percent of financial services licensee NEO Financial Solutions (NFS) for an undisclosed sum, it announced on Friday on […]

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Retail Asia19/06/2020

The French lender will exit the domestic wealth management business in India but stressed that it remained committed to Asia. The bank will exit the market in order to focus on areas where its global footprint and diversified business strengths allow it to provide clients with more value-added services, a spokesperson for the bank said. […]

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Retail Asia11/06/2020

The bank launched its virtual wealth advisory service in April, at the height of Singapore’s partial lockdown, and saw a 45-percent increase in the sale of wealth products in the first 10 days, compared with the 10 days. OCBC Bank has seen a positive response from its customers to non-face-to-face wealth conversations, as sales of […]

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Retail Asia18/03/2020

UBP hires a new chief operating officer for Singapore from a rival private bank in the city-state. Jérôme Thuillier joins UBP as its new Singapore COO, effective as of yesterday. Thuillier most recently with Bank of Singapore where he was a program director responsible for building an integrated wealth management tech platform. Pervasively, he had also […]

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Retail Asia21/01/2020

UBS’s wealth management arm undergoes a major restructuring exercise led by the business’ global co-head Iqbal Khan and Tom Naratil. Through the reorganization, Khan will make his mark on the wealth management business’ highest growth market by region with the goal of improving costs and efficiency at the bank. According to a report, the bank has […]

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Retail Asia17/01/2020

She takes over from Tuan Huynh, who was appointed Deutsche Bank’s Chief Investment Officer, Europe, several months ago. The wealth management division of Deutsche Bank has appointed Siok Kuan Tham as head of Wealth Discretionary (WD) for Emerging Markets, it announced in a statement on Thursday. Based in Singapore, Tham will report globally to Gregor Hirt, global head Wealth Discretionary, and locally […]

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Retail Asia16/01/2020

A new organizational structure, intended to speed up decision making, is being introduced in Asia, with other regions to follow. UBS has begun cutting jobs at its wealth management unit in Europe and Asia, with as much as 20 percent of its workforce in European regions and management layers in Asia affected. The round of […]

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Retail Asia09/01/2020

UBS is restructuring its private bank, the first major move under new co-head Iqbal Khan. The move dramatically reduces the influence of two veterans of the bank. The Zurich-based wealth manager is making a host of changes three months into the tenure of Iqbal Khan, who joined from Credit Suisse, as co-head of its private bank. […]

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Retail Asia17/12/2019

The two partners, which have worked together for more than 10 years, will refine client solutions and accelerate DBS Wealth Management’s digital-led growth strategy using Avaloq’s cloud-based platform. Swiss banking software provider Avaloq will expand the scope of its partnership with DBS and help its wealth management arm to deliver more personalized services and enhance its […]

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Retail Asia09/12/2019

Finantix, a global provider of trusted technology to the wealth management, insurance, and banking industries, opened an office in Sydney to further support its expansion in the Asia-Pacific region. The Sydney-based office will be run by Martin McCabe who joins Finantix as sales country manager for Australia and Todd Yarrow, senior business development executive for Australia, according to a media […]

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Retail Asia02/12/2019

Grab is looking to tap the trillion-dollar wealth market across South-east Asia by offering low-cost investment products. Armed with a huge ambition of seizing South-east Asia’s wealth management market, Grab will first offer simple cash products offering a yield above the small interest derived from cash sitting in banks, said Reuben Lai, senior managing director of […]

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Retail Asia18/11/2019

Listed firms controlled by billionaires outperformed the broader market with such entities in Asia leading the pack in relative gains. In the past 15 years to 2018-end, billionaire-controlled listed companies posted equity returns of 17.8 percent compared to 9.1 percent for the MSCI benchmark in the same period. By region, Asia Pacific ranked second in demonstrating this trend delivering […]

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Retail Asia07/10/2019

While Singapore’s net financial assets per capital grew 4.4 percent year-on-year, global economic instability and trade wars are weighing heavily on the global middle class, according to Allianz’s new Global Wealth Report. With net financial assets per capita of €100,370 ($110,201), Singapore has taken the crown from Japan as the richest country/region in Asia, ranking […]

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Retail Asia13/09/2019

Deutsche Bank’s recruitment drive for the private bank in Asia persists, this time with the hire of a new head of onshore wealth management in China. Jeffrey Yen Chieh Peng joins the bank as managing director and head of China onshore wealth management, effective today. According to the bank’s announcement, Peng will oversee and strengthen the […]

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Retail Asia11/09/2019

BNP Paribas Wealth Management loses three senior Greater China private bankers, sources said, after shortlived stints of under 12 months. Andrew Wong, Peter Lam and Richard Chi will exit the French lender’s private wealth management arm. A spokesperson for the bank declined to comment on the exits. Wong joined the bank in late 2018 as head of China at […]

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