Goldman Sachs has reached a $2.9 billion settlement with regulators around the world for risk management failures connected to the 1Malaysia Development Berhad fraud scandal, ending several yearslong investigations into the investment bank's wrongdoing and prompting it to decide to claw back $174 million in pay to current and former executives.
D.E. Shaw & Co. plans to open a new office in Singapore next year, making it the largest international hedge fund to expand in the Asian city-state as it continues to lure financial firms away from turmoil-ridden Hong Kong.
U.S. cryptocurrency exchange Gemini, founded by twins Tyler and Cameron Winklevoss, hired a former executive for Morgan Stanley to serve as chief compliance officer for its recently launched Asia-Pacific operations.
German police raided the Munich-area headquarters of scandal-plagued payments processor Wirecard on Tuesday, in connection with an investigation that also included a mid-September raid of KfW IPEX-Bank, a subsidiary of state-owned bank KfW, according to European media reports.
Goldman Sachs reportedly plans to set up a foreign-exchange trading and pricing platform next year in Singapore, following other large banks that have set up forex platforms in the Southeast Asian city-state.
The Singapore Exchange on Thursday unveiled the listing of the world’s biggest exchange-traded fund to invest solely in Chinese government bonds, aiming to capitalize on investors’ accelerating demand to access opportunities in the second-largest bond market on the globe.
Investment management firm Franklin Templeton formed a partnership with Singapore startup Razer Fintech to collaborate on a digital wealth management platform that appeals to younger generations.
Japanese insurer Sumitomo Life said Monday that it will provide Singapore Life with SGD 320 million ($234.59 million) worth of additional equity capital, a deal meant to help finance the latter’s pending takeover of a controlling stake in Aviva’s Singaporean business.
DBS said on Thursday that it launched a business property mortgage loan pegged to the Singapore Overnight Rate Average, the first of its kind in Singapore, as the city-state transitions in the adoption of the new benchmark interest rate.
Singapore’s United Overseas Bank and CapitaLand have entered into an agreement for a two-year, SGD 200 million ($146.6 million) term loan pegged to both the Singapore Overnight Rate Average and the Secured Overnight Financing Rate.
Cryptocurrency bank Sygnum said on Tuesday that it received regulatory approval from Switzerland to introduce a digital asset trading facility.
A JPMorgan Chase unit has opened up a sustainable bond fund to retail investors in Singapore as the city-state prepares to implement regulations encouraging growth of environmental, social and governance-oriented holdings.
The coronavirus pandemic continues to threaten Singapore’s largest banks, Fitch Ratings said Sunday, building on an earlier warning that it saw reasons for concern about the financial institutions’ stability.
Reinsurers in Asia-Pacific markets will likely see slow premium growth in 2020 amid a downturn in the region’s direct life and non-life insurance markets, even as pandemic-related claims remain relatively “manageable,” Fitch said.
Asian lender DBS reached a deal to offer the agribusiness industry’s first loan pegged to Singapore’s fledgling interest rate benchmark, another step in a global financial sector’s transition away from the London Interbank Offered Rate.
Singapore took another step toward transitioning away from the London Interbank Offered Rate, a soon-to-be-retired interest-rate benchmark, by selling its first notes tied to an alternative measure on Tuesday.
U.S.-based asset manager Northern Trust said on Wednesday that it teamed up with BondEvalue, a Singaporean fintech, to make a blockchain-based bond trade that is believed to be the first ever of its kind.
The job market for Singapore’s financial services sector will likely get worse, as the country’s economy has contracted amid COVID-19, an official with the country’s central bank said Wednesday.
Sun Life Financial said on Friday that it opened a branch in Singapore with plans to offer life insurance to affluent clients, as the Canadian life insurer and asset manager continues to expand its presence in Asia.
The Monetary Authority of Singapore on Friday urged finance companies to cap their dividends for 2020 as the country continues to navigate the fallout from COVID-19, after making the same request of banks last week.