Julius Baer said Friday that it is creating a new unit for direct private investments for its ultra-wealthy clients, with the new division’s head joining from Switzerland’s largest bank, UBS.
Credit Suisse said it’s eyeing full ownership of its Chinese securities joint venture just one month after claiming a majority stake in the entity, as the lender looks to expand its presence in China.
The Bank of China’s Malaysian outpost has begun using a QR code payment option for customers around the world who use the bank’s app, reflecting the current high demand for digital services as well as the bank’s continued interest in the Southeast Asian country.
DBS’ Hong Kong business tapped Peter Tung, a veteran of Morgan Stanley and UBS, to head its private banking unit for greater China as financial firms compete for growth in a cooling market.
The U.S. Department of Justice is looking into whether scandal-plagued German payments processor Wirecard was involved in an alleged $100 million bank-fraud conspiracy relating to an online marijuana marketplace, The Wall Street Journal reported Wednesday.
Bank of New York Mellon and Deutsche Bank developed a foreign-exchange tool to expedite currency trades in restricted emerging markets, the banks said Wednesday, aiming to reduce the pre-trade life cycle “to seconds from hours.”
Interactive Brokers said on Tuesday that it has expanded its presence in Singapore with the opening of an office and the establishment of a local operating entity, moves that come as the company reports a rising clientele in Asia.
American Express, Discover, Mastercard and Visa said on Wednesday that they are each starting technical preparations to expand the Click to Pay online checkout system globally, offering consumers a “streamlined experience across any digital checkout environment or network” as the pandemic has accelerated the shift to digital payments.
MS&AD Insurance Group revealed Tuesday that it is offering a new predictive analysis for companies seeking to improve climate change-related disclosures in financial reporting, making it the first Japanese financial services group to partner with U.S.-based startup Jupiter Intelligence, an investee of its corporate venture capital firm.
HSBC is further expanding its Chinese footprint by creating a new fintech company and hiring a group of personal wealth advisers, a bank spokesperson told Fastinform on Monday.
Payments platform Adyen has expanded its acquiring bank services to Malaysia, allowing more global firms to cash in on the country’s expanding economy and reflecting upward momentum in the global electronic payments business.
Munich prosecutors on Monday arrested a second Wirecard executive as part of an investigation into a €1.9 billion ($2.1 billion) accounting scandal that has authorities probing the company’s partners and subsidiaries globally.
The Taiwanese arm of UOB Asset Management launched a new fund specializing in Singapore real estate investment trusts on Tuesday, in a bid to attract wary retail investors in search of lower volatility and steadier returns.
The Bank for International Settlements will establish new “Innovation Hub” locations in Europe and North America as it looks to accelerate work on digital currencies and other financial technology across central banks, BIS said Tuesday.
The fallout from a major accounting scandal continues for Wirecard, trickling down to its foreign operations as the German payment processor’s North American unit said it is looking for a buyer, while local regulators in the U.K. and Singapore have put restrictions on the company’s subsidiaries.
MetLife sold $750 million in green bonds to be invested according to the insurer’s own sustainability framework, marking the first offering of that type by the U.S. life insurer.
The real estate division of the Allianz Group is building a $2.3 billion investment platform in partnership with a South Korean pension fund to expand its real estate investment portfolio in the Asia-Pacific region, the company said Monday.
Singapore-based DBS pledged SGD 20 billion ($14.4 billion) in sustainable investments and released a framework and taxonomy to define metrics and benchmarks for the trillion-dollar sustainable investing sector on Monday.
Some of the world’s most important banks are struggling to ensure that they could continue smooth operations in the event of a failure, the international Financial Stability Board said Sunday in an examination of reforms put into place following the global financial crisis of 2008.
The tremors resulting from Wirecard’s collapse are still being felt globally — from the U.K., where thousands are unable to access their Wirecard-affiliated accounts, to Singapore, where a criminal investigation into the German payment processor is ongoing, and the Philippines, where authorities are scrutinizing the company’s local partners.