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1 week ago | 
finews.asia | Richard Otsuki
Hong Kong, Shanghai Sign Agreement to Deepen LinksTwo Chinese financial hubs will look to further financial linkages after signing the latest agreement at a major forum in the mainland. Hong Kong and Shanghai signed the «Action Plan for Collaborative Development of Shanghai and Hong Kong International Financial Centers», according to a press release issued by the Hong Kong government.
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1 week ago | 
finews.asia | Richard Otsuki
J. Safra Sarasin Nets J.P. Morgan Trio in Hong KongBasel-based J. Safra Sarasin has hired three wealth management veterans in Asia who previously worked at J.P. Morgan Private Bank. Bank J. Safra Sarasin has appointed May Hsu as chairman Asia, according to a statement. She succeeds longtime private banking veteran and former APAC chair of BNP Paribas Wealth Management Mignonne Cheng who has been promoted to executive chairman Asia.
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1 week ago | 
finews.asia | Richard Otsuki
DBS Inks MOU With Australian Trade CommissionSingapore-based DBS has signed an agreement with a trade commission in Australia to deepen investment links as the bank celebrates a decade in Sydney.
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1 week ago | 
finews.asia | Richard Otsuki
UBS: Financial Markets Fuel American Wealth DominanceThe Americas widened the wealth gap with other regions in 2024 after strong financial markets fuelled growth, according to a UBS report. Global wealth grew 4.6 percent in 2024, marking the second consecutive annual increase after rising 4.2 percent in 2023 but shrinking 3 percent in 2022, according to the 2025 edition of the UBS Global Wealth Report. A stable US dollar and buoyant financial markets were cited as major drivers.
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1 week ago | 
finews.asia | Richard Otsuki
Morgan Stanley Names Asia Revenue TargetUS banking giant Morgan Stanley is reportedly seeking to up its revenue in Asia after a record performance in 2024. Morgan Stanley is aiming to generate $10 billion in Asia revenue within five years, according to a «Bloomberg» report citing regional CEO Gokul Laroia. In 2024, the American lender posted a record $7.64 in annual revenue in Asia.
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1 week ago | 
finews.asia | Richard Otsuki
WGC: Central Banks Make Record Gold ForecastA record number of central banks expect their gold reserves to grow in the coming year, according to a survey by the World Gold Council, while US dollar holdings are expected to shrink in the longer term. In a survey of central banks by the World Gold Council (WGC), nearly all respondents (95 percent) believe that global central bank gold reserves will increase over the next 12 months.
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1 week ago | 
finews.asia | Richard Otsuki
DBS to Add Wealth Bankers, Client Center in Hong KongThe Hong Kong unit of DBS is reportedly expanding its front office and adding a new wealth center as investment activity among affluent clients has been on the rise. DBS plans to hire 100 bankers over the next three years and open a new wealth center in 2026 in Hong Kong, according to an «SCMP» report citing Ajay Mathur, head of DBS Hong Kong’s consumer banking group and wealth management.
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1 week ago | 
finews.asia | Richard Otsuki
Natixis IM: APAC Investors’ Top Three Worries in 2025Investors in Asia Pacific are leading pessimists across several categories worldwide, according to a survey by Natixis Investment Managers, amid an increasingly uncertain market environment. Investors in the Asia Pacific region were amongst the most pessimistic, according to a survey by Natixis Investment Managers (IM) of over 7,000 global individual investors with more than $100,000 in investable assets.
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1 week ago | 
finews.asia | Richard Otsuki
Chubb Launches First Hong Kong Wealth CenterAmerican-Swiss insurer Chubb has launched its first wealth center in Hong Kong to capitalize on growing demand in the city. Chubb Life Hong Kong has launched Chubb 1792 Club – a wealth center aimed at serving affluent and high net worth customers in the city – according to a statement. The center is located in the tourism district of Tsim Sha Tsui and features a 10,000-square-foot signature lounge designed to deliver bespoke wealth management services.
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1 week ago | 
finews.asia | Richard Otsuki
SMBC Nets Ex-StanChart Corporate Banker in MalaysiaA former Malaysia corporate banker from Standard Chartered has joined Tokyo-headquartered Sumitomo Mitsui Banking Corporation. SMBC Malaysia has appointed Wendy Ooi as head of corporate banking department in Malaysia, according to a statement. In the role, she will lead the bank’s non-Japanese corporate banking strategy in Malaysia and strengthen its position as a partner to global and regional corporates across Asia Pacific.
