Wealth Management

Asset management firms in China post record profits

Four asset management companies in China saw total pre-provision operation profits of 37.6 billion yuan ($5.97 billion) in 2013.

Asset management firms in China post record profits

Four asset management companies in China saw total pre-provision operation profits of 37.6 billion yuan ($5.97 billion) in 2013.

Thai banks intensify competion to lure wealthy clients

Thai banks have launched strategies to retain wealthy customers and attract the newly rich.

Warning made against Chinese wealth management products

The frenzy of Chinese banks to snatch depositors have led to non-standard operations in wealth management.

Kasikorn expects AUM to hit Bt1-T

Kasikorn Asset Management forecasts assets under management (AUM) to touch Bt1 trillion this year.

Thailand's SCB adjusts to needs of its wealthier customers

Siam Commercial Bank changed its private banking strategy for clients who are getting richer.

Fund manager warns against Philippine foreign ownership rules

Lazard Asset Management warned that foreign ownership ruling for PLDT may negatively impact the country.

South Korea's pension fund withdraws money from Goldman

It is seen as a retaliation for pulling out its asset management unit out of South Korea.

Malaysia's CIMB expects AUM to hit RM7-B next year

Munirah Khairuddin, acting CEO of CIMB Wealth Advisors, expects robust subscription of all its products.

ING sells Thai asset management biz to UOB

For 10 million euro. This is the amount the ING Group will receive in selling its investment management business in Thailand to UOB Asset Management.

Nomura posts net income of $35.3M

Thanks to fixed income operations.

RBC seeks growth via asset-management deals in Asia

Royal Bank of Canada hopes to make small- to medium-sized acquisitions in Asia and Latin America to build its equity capabilities in global asset management.

Number of Australian funds expected to shrink

BlackRock predicts a huge consolidation of Australia's industry super funds, leading to a shake-out of Australian fund managers.

Maybank consolidating asset management firms

Maybank Asset Management is working closely with Maybank Kim Eng to support its growth plans.

BoC executive warns of risks in wealth management products

There is a proliferation of off-book wealth management products that China's banking sector has to tackle, warns a bank executive.