HK
Tag: Wealth Management
A Global Industry
The diversity of roles within the financial sector is matched only by the wide range of expertise in countries across the globe. We examine the key strengths of each region. Europe, Middle East & Africa (EMEA) It’s easy to see why, despite recent wobbles, London remains the top global financial centre. It has the largest [...]
Sectors explained – Wealth Management
Private wealth managers help very rich people manage their money, far away from the prying eyes of the gossip columnists and paparazzi. They fall into two categories. Private bankers Help clients invest their money wisely and avoid any risks that might reduce the value of their assets. They also offer tax and pensions advice, help [...]
Daily Dispatches: J.P. Morgan plays down bonus expectations
J.P. Morgan is damping employees’ salary and bonus expectations as the lender wraps up year-end performance reviews, said three executives familiar with the process. (Bloomberg) Recent withdrawals by some foreign insurers from China suggest that the country is losing its appeal despite the expanding domestic insurance market Moody’s said in a report. “As a whole, [...]
Six crucial steps to becoming a stellar private banker
We speak to Ebru Kapusiz – a woman who has been there, done that, when it comes to private banking. Her career spans more than 15 years and includes stints in asset management, fixed income securities trading, and private banking in Australia, Turkey and Singapore. Most recently she was an associate director at UBS Wealth [...]
Daily Dispatches: Jefferies swoops on seven UBS bankers
Jefferies Group has hired at least seven UBS bankers in Hong Kong in the past two months after luring Ren Wang from the Swiss lender to become its Asia president, three people with knowledge of the matter said. (Bloomberg) Barclays Wealth, the global wealth management division of Barclays, has appointed Januar Tjandra as head of [...]
Daily Dispatches: Chinese banks are “extremely fragile”, according to Jim Chanos
Jim Chanos, president and founder of the hedge fund, Kynikos Associates, says: “The Chinese banking system is built on quicksand and that’s the one thing a lot of people don’t realise. Everybody seems to think it is a free and clear open checkbook. It’s not. The banking system in China is extremely fragile.” (Bloomberg) UBS [...]
Daily Dispatches: Ban bonuses, says Black Swan author
I have a solution for the problem of bankers who take risks that threaten the general public: Eliminate bonuses. (Bloomberg) Commonwealth Bank says its funding costs could rise as the European debt crisis and concerns over the health of the US economy challenge credit markets. (
Daily Dispatches: Analysts urge more layoffs at Macquarie as headcount is still “too high”
Despite slashing 468 jobs over the past six months, UBS analyst Jonathan Mott said: “Macquarie had not done enough and more job cuts were required.” (The Australian) China makes its biggest reorganization of finance officials in a decade, moving new people to head its banking, securities and insurance watchdogs. (Bloomberg) India’s i-banks are facing dreary [...]
Daily Dispatches: Nomura and National Australia Bank are firing
Nomura will fire in Europe and refocus on its profitable businesses in the US, Japan and Asia. (The Wall Street Journal) National Bank of Australia boasts a striking $5.5bn cash profit; even as it announces that it’s slashed at least 650 jobs. (The Australian) UBS bonuses won’t be as miserable as analysts have predicted. The [...]
Daily Dispatches: Will Europe’s banks retreat from Asia?
It’s entirely plausible that Continental European banks may pull back from Asia, but US, UK, Australian and Asian banks can and will fill any gaps, says Warren Hogan, ANZ’s chief economist. (TODAY) UBS profits are pretty decent in Q3. A trader says: “The figures are better than expected, even though they massaged them somewhat. But [...]
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