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Looming judgment on ‘residual obligation’ puts spotlight on conflict of interest for PBs’ trusteeships

Private banks may want to reconsider the risks of taking up the duo roles of an investment advisor and trustee, in view of the recent case concerning residual fiduciary obligations toward clients. While it is common for universal banks to have a trustee entity to cater to the wealth planning needs of wealthy clients, the recent Zhang Hong Li v…

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