All articles by Verdict Staff
Verdict Staff
Bank of China Hong Kong to dispose 70.5% of its stake in Chiyu Banking
Bank of China Hong Kong (BOCHK) has agreed to sell 70.5% of its stake in wholly-owned subsidiary Chiyu Banking, following a review of its operations.
Morgan Stanley to offer client choice in payments for retirement accounts
Morgan Stanley has said that it will allow its wealth management clients choose the way they pay for retirement accounts covered by the new Department of Labor (DOL) fiduciary rule.
Deutsche Bank wealth unit swings to profit in Q3
The Private, Wealth & Commercial Clients (PW&CC) unit of Deutsche Bank has reported pre-tax income of 117m for the third quarter of 2016, compared to a loss of 1.13bn a year ago.
State Street net income drops 6% in Q3
State Street has posted net income available to common shareholders of $507m for the third quarter of 2016, down 5.9% from $539m a year ago.
Barclays pretax profit surges 35% in Q3
British banking group Barclays has reported pretax profit of £837m ($1.01bn) for the third quarter of 2016, up 35.2% compared to £619m in the prior-year quarter.
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Santander Q3 profit rises to 1.7bn
Spanish banking giant Santander has posted a net profit of 1.7bn ($1.8bn) for third quarter of 2016, an increase of less than 1% compared to 1.68bn in the year ago quarter.
Indosuez Wealth Management hires global head of Middle East
Indosuez Wealth Management, the global wealth management arm of French banking group Credit Agricole, has appointed Francois Farjallah as the new global head of its Middle East operations.
Bahrains Investcorp to acquire 3i’s debt management arm
Bahraini investment group Investcorp has agreed to buy British private equity firm 3i Group’s debt management business (3iDM) for £222m.
Northern Trust appoints new global fund services head in Asia
Northern Trust, a US-based investment management firm, has hired Caroline Higgins as head of its global fund services unit in Asia.
Vanare partners with FinMason to provide institutional risk analytics
Vanare, a wealth management technology platform for investment advisors, has partnered with fintech provider FinMason to integrate institutional risk analytics in its comprehensive digital wealth solution.