Policy & Regulations
Officials from the Monetary Authority of Singapore (MAS) made the request last month to wealth managers, including DBS and a unit of OCBC.
IPOs & Markets
AB InBev said in May that an IPO of its Asia business could help create a brewing champion for the region.
Some Hong Kong tycoons have begun moving their personal wealth offshore as concerns deepen over a government plan to allow extraditions of suspects to
The approval is likely to come in the second half of the year.
Serai is expected to help HSBC access new clients for its banking services.
MAS is studying the potential for allowing "digital-only banks with non-bank parentage."
JPMorgan's Kam Shing Kwang will take on additional investment banking role.
Mergers of weaker small banks with stronger peers is seen by analysts as the best option for a sector reeling from rising bad loans and funding costs.
HSBC, which makes more than 80% of its profit in Asia, will boost its wealth staff in Singapore by 50 and launch new digital offerings this year.
Asia Pacific saw total household wealth grow 3% last year from a year ago.
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