Investors can expect “robust scrutiny” rather than a “light touch” as the Monetary Authority of Singapore moves to prevent Variable Capital Companies (VCCs) from being abused for money laundering, independent wealth managers warn. The MAS issued a warning to fund managers in January regarding the use of VCC structures for money-laundering purposes. The warning, which had not been reported until […]

The post MAS VCC crackdown: Expect “robust scrutiny,” wealth managers warn appeared first on Asian Private Banker.

Asian private banks could be stifling the growth of external asset managers (EAMs) in Asia by failing to treat them as proper business partners, Mandeep Nalwa, CEO of Taurus Wealth, told Asian Private Banker. “We need banks to be partners to EAMs, so the rules of the game are the same in Switzerland and Asia. That would allow everyone to […]

The post “We need banks to be partners”: Taurus CEO slams EAM treatment in Asia appeared first on Asian Private Banker.

For Chinese president Xi Jinping, 2022 has been a giant and intense game of financial whack-a-mole. The government’s “zero-COVID” policy gave way to plunging stocks, flatlining GDP, surging inflation, the worst capital flight in seven years and a rare mutiny by households across the nation. Yet, this last challenge provides a microcosm for a year that has proven much tougher […]

The post Is China facing its ‘Lehman moment’? Here’s what private banks think appeared first on Asian Private Banker.

Two senior private bankers at Bank of Singapore are leaving the lender, Asian Private Banker can reveal. Harsh Vardhan Rungta and Saurabh Rathi will exit the Singapore-based private bank in mid-June, people familiar with the matter said. Rungta joined the bank in 2008 and was most recently managing director, focused on global South Asia UHNW clients. Earlier in his career, […]

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UCAP Asset Management has added a veteran private banker in Hong Kong to help grow its Japanese HNW client base, Asian Private Banker has learnt. Genji Hosono has joined as a senior partner, after nearly a decade at Pictet & Cie (Europe) S.A. Hong Kong. His most recent position was managing director covering Japanese clients. He brings over 25 years […]

The post IAM hires Pictet MD to target wealthy Japanese appeared first on Asian Private Banker.

Taurus Wealth has added a senior private banker in Singapore to further expand its client base in the city-state, Asian Private Banker has learnt. Harpreet Singh has come onboard the Singapore-based multi-family office, which manages about US$3 billion in AUM, as executive director, client investments. Singh joins from Crédit Agricole where he was most recently a senior director focused on […]

The post Singapore multi-family office snaps up Crédit Agricole private banker appeared first on Asian Private Banker.

  This is a sponsored article from Taurus Wealth.   Following an illustrious career with a number of mainstream private banks in Asia, Mandeep Nalwa’s conviction regarding the conflicts inherent in private wealth servicing was strong enough by the spring of 2008 to independently establish a model that was far better aligned to clients’ interests. Adopting the model of a […]

The post Institutional calibre wealth servicing delivered through a boutique and bespoke approach appeared first on Asian Private Banker.

Taurus Wealth Pte Ltd, a Singapore-headquartered multi-family office, has hired a senior private banker from UBS Global Wealth Management, Asian Private Banker has learnt. Based in Singapore, Max Gan has joined the independent asset manager as managing director, client investments from UBS GWM. At UBS GWM, Gan most recently held the position of country team leader, Singapore desk and covered the […]

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Deutsche Bank Wealth Management (WM) has made two senior hires in the region to strengthen its product platform and support its growth strategy, according to a statement from the bank today. Wee Teck Tay and John Liley join as director, head of private markets for APAC and director, funds solutions specialist, APAC, respectively. Both are based in Singapore. Tay reports […]

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The potential for cryptocurrencies to materially disrupt financial markets has led one Singapore-based external asset manager (EAM) to say that large US banks are “afraid” of blockchain technologies and bitcoin, according to media reports. “Of course, if you run a very large US bank, most probably you are afraid of blockchain and bitcoin,” Rainer Michael Preiss, executive director at Taurus […]

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