Markets

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.

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.

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.

Japan's banking regulator surveys lenders on impact of COVID restrictions

The regulator is reportedly seeking to prevent a huge rise in bankruptices of businesses.