Wealth
UBS SuMi to acquire Credit Suisse’s wealth business in Japan
UBS’ joint venture (JV) company in Japan will acquire Credit Suisse’s wealth management business in the country, according to people familiar with the matter, following the lender’s takeover of...
HSBC’s Quinn targets lifting wealth business in China, India
HSBC Holdings’ top boss said he is pushing to improve his firm’s wealth management capabilities in China and India to be on par with its key market of Hong...
ABN Amro jumps on wealth management bandwagon in race for fees
ABN Amro is the latest European bank to seek growth in wealth management as a way to offset an expected decline in lending revenue. “We have the ambition to...
UBS starts job cuts at Asia wealth unit after profit slump
UBS Group started cutting jobs at its Asia private banking division this week as a slump in profits weighs on the region’s largest wealth manager, according to people familiar...
Saudi wealth fund eyes US$20 billion windfall from Aramco dividend
SAUDI Arabia’s sovereign wealth fund is set to earn about US$5 billion in dividend payments every quarter from its stake in Aramco after the government handed it more shares...
Saudi Arabia moves US$164 billion Aramco stake to wealth fund
SAUDI Arabia’s government transferred a further US$164 billion stake in Aramco to the Public Investment Fund (PIF), a move aimed at bolstering cashflow at the state-backed investor that’s been...
Morgan Stanley offers pre-IPO share trading to wealth clients
MORGAN Stanley’s wealth management arm is giving its clients a chance to buy and sell coveted shares of private companies before they are available to the wider public, as...
Norway wealth fund sells stakes in 3 Jardine firms on environment concerns
NORWAY’S US$1.6 trillion sovereign wealth fund has excluded three companies from its portfolio due to concerns that mining activity may destroy the natural habitat of critically endangered orangutans, the...
