Markets
HSBC stokes discontent amongst senior staff with pivot to Asia: report
Senior bankers reportedly expect friction with the regional chief, sources said.
HSBC stokes discontent amongst senior staff with pivot to Asia: report
Senior bankers reportedly expect friction with the regional chief, sources said.
DBS to acquire 13% stake in Shenzhen Rural Commercial Bank for $810m
It will become SZRCB’s largest shareholder upon the deal’s completion.
Citi APAC to add 1,100 relationship managers, private bankers for wealth arm
The bank expects AUM to expand by $150b under its Win-in-Wealth campaign.
Citi appoints co-heads of Citi Global Wealth in APAC
The bank saw record net new money inflows of $20b in the region last year.
MUFG appoints new head of ESG finance for APAC
In the newly created role, Colin Chen is expected to build the bank’s finance strategy in the region.
Japanese bank’s risk controls under test following Archegos fallout
After Nomura and MUFG, other banks are likely to announce losses related to the US investment firm.
Citi appoints Kartik Mani as the Head of Consumer Banking in Asia
He replaces Gonzalo Luchetti, who is the new head of consumer banking in the US.
ABF Wholesale Banking, ABF Retail Banking and ABF Corporate & Investment Banking Awards 2021 now open for nominations
Be a part of the prestigious celebration on 1 July.
MUFG's securities unit warns $270m in losses from unnamed US client: report
The losses will be reflected in the unit’s first quarter financial statement.
Japan's financial firms face activist climate votes as AGMs near
Mizuho was forced to vote on a climate-focused resolution in its AGM last year, but more firms are being targeted in 2021.
Mergers imminent amongst Japan’s regional banks: study
Ultralow rates, competition will hurt profits to the point where revenue no longer covers operating expenses.
HSBC Singapore names new global liquidity head
Winnie Yap will be responsible for treasury solutions for Singapore firms.
Weekly Global News Wrap: Morgan Stanley offers bitcoin to wealth clients; SLB market could hit $150b this year
And Barclays expands private banking unit to France and Italy. From CNBC:
Philippine banks' credit weakness to persist throughout 2021
Non-performing assets ratio is expected to rise to 5.5%-6% by the end of the year.
Bank accounts of suspected scammers can be frozen within a day: Singapore minister
Singapore Minister Desmond Tan lays out plans to prevent scams.
MAS unveils joint paper on managing remote working risks
Financial institutions are called to benchmark their practices against examples in the study.
No significant funds from Myanmar firms, individuals in Singapore banks: MAS
The regulator expects financial institutions to remain vigilant to any risk-posing transactions.
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