With the year of the snake approaching, competition between private banks in Asia is hotting up when it comes to who can distribute the most dazzling red packets to clients. These envelopes – known as laisee or hongbao – are traditionally given to family members and friends. However, they can also be highly sought-after collectors’ items and fetch a premium […]

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Taipei Fubon Bank is partnering with Avaloq to build a wealth management platform for the Taiwan lender’s private banking business in Hong Kong, Singapore and onshore Taiwan. The platform will focus on key features in wealth management technology, including customer relationship management (CRM), know your customer (KYC), regulatory compliance and product management. In addition, it will incorporate a broad range […]

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Taiwan’s CTBC Bank has struck a deal with Avaloq to adopt its core banking solution, starting with an implementation at its offices in Hong Kong and Singapore. According to a press release by Avaloq, CTBC will implement Avaloq’s core banking suite internationally, in a bid to upgrade the bank’s private banking platform. The decision to choose the Swiss fintech firm […]

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Four more banks in Taiwan have been granted wealth management licences by the island’s Financial Supervisory Commission (FSC) to serve HNW clients with NT$100 million assets or above, the regulator announced on Tuesday. Cathay United Bank, UBS AG’s Taipei branch, First Bank Taiwan, Taiwan Cooperative Bank have joined the three others — CTBC Bank, Megabank, and Shanghai Commercial & Savings […]

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Taiwanese banks are warming to a loosening of wealth management regulations, which they believe will eventually put domestic private banks on par with international rivals. Last August, Taiwan’s Financial Supervisory Commission (FSC) detailed its latest effort to level up the international competitiveness of the country’s wealth management industry. More relaxed rules were introduced on the range of financial products available […]

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Aegis Custody announced today that it is partnering with Taiwanese lender CTBC bank to expand the latter’s digital financial asset business. The partnership will see the San Francisco-based blockchain company’s digitalisation platform launch bundle factoring, REITs and equity investment in special asset digitalisation, so as to tap into channels for cash flow, and support diversification in the banking sector. The […]

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CTBC Private Bank has hired two senior bankers to lead two separate teams out of Singapore, with the Taiwanese lender telling Asian Private Banker that it will add to its Southeast Asia teams in the coming months. Samuel Witjaksono and Dino Sukendro have joined the CTBC Private Bank, with both bankers reporting to Damien Ng, head of Singapore sales and advisory. Each of them […]

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Vontobel Wealth Management’s Asia Pacific business has added its second ex-CTBC private banker in less than two months, the bank announced today. Joannes Ho has been appointed executive director and senior relationship manager, effective 25 April 2016. In this newly created role, Ho will report to Alex Fung, APAC chief of Vontobel Wealth Management, and will be based in Hong Kong. […]

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The Swiss lender has hired an ex-CTBC Bank high net worth (HNW) banker in Hong Kong. Christine Chen joined Vontobel Wealth Management Asia Pacific with effect from yesterday 14 March and reports to Alex Fung, Vontobel’s APAC chief executive. Previously, she was an associate director with CTBC responsible for HNW clients in China and Taiwan, and has also worked at […]

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After two and a half years with the bank, the former head of investment advisory leaves CTBC Bank. Paul Leo has left his post at the Taiwanese lender in Singapore. He is believed to have joined Hong Leong Bank’s private banking arm as regional head, investment products and advisory, based in Singapore. Prior to his position at CTBC Bank, Leo […]

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CTBC Private Bank has appointed a new head of products and investments, after its former head left the bank after almost three years in the role. Michael Coglin is CTBC Private Bank’s new Singapore- based head of products and investments, replacing Dennis Harhalakis who has resigned and is moving back to London. When contacted, Coglin commented “it is with deep regret that […]

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The former head of investment advisory of Chinatrust Commercial Bank’s (CTBC) private wealth management arm and a decade-long private banking veteran has left to join Hong Leong Bank in a similar capacity. Paul Leo leaves CTBC Private Bank after joining the Taiwanese lender in 2012 to join Malaysian financial institution, Hong Leong Bank as its new regional head of investment […]

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VP Bank has lost its Singapore-based managing director, Reto Isenring. However a replacement for Isenring has already been found. Isenring will leave the Liechtenstein-headquartered private bank after six years to “pursue other career options”. His replacement – subject to regulatory approval – will be former Chinatrust Commercial Bank executive director and chief of operations, international private banking, Rajagopal Govindarajoo, who […]

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Lugano-headquartered BSI, which received a banking license for its Hong Kong branch from the HKMA last year, has lost its North Asia head of wealth management services. Todd James, who had been with BSI for 2 years, resigned abruptly this week to “pursue other opportunities”. James worked closely with and reported directly to Esther Heer, a Coutts veteran and BSI’s […]

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At the heels of Royal Bank of Canada’s (RBC) announcement to grow its presence in emerging markets alongside speculations of various acquisitions, sources have confirmed that Bank of Montreal (BMO) has bought CIBC’s private wealth management business in Hong Kong and Singapore. Sources have confirmed that BMO has entered into a definitive agreement to acquire the standalone business. The transaction […]

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Following Chinatrust Commercial Bank’s (CTCB) launch of its private banking business in Hong Kong and Singapore last week, it plans to hire another twenty across the two offices by the end of this year, according to sources close to the matter. A number of hires have been made over the last year to cement the Taiwanese bank’s ambitions to drive […]

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BSI’s erstwhile head of advisory in Hong Kong, who left the bank in October last year, has joined Chinatrust Commercial Bank to assist it in establishing its fledgling private banking business. Ringo Lau who is better known for the 16 years he spent with boutique wealth manager Falcon than the ten months he spent at BSI, has joined Chinatrust as […]

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One of Taiwan’s largest lenders, the Koo family controlled Chinatrust Commercial Bank is putting together plans to offer private banking service by the end of the year. The firm already has representative offices in Hong Kong and Singapore and intends to hire staff, including RMs, over the next couple of months as a step towards rolling out its private banking […]

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