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Hawksford has acquired People & Projects Ltd (P&P), an acquisition which will strengthen its current presence in Hong Kong and Singapore, and provide it with an extensive footprint across major cities in China. The transaction demonstrates Hawksford’s commitment to the Asian market and takes the corporate, private client and fund administration company’s global headcount to […]
The Singapore Exchange is postponing the launch of its India derivatives products after a court in Mumbai ordered a lawsuit filed by National Stock Exchange of India (NSE) against the Singapore Exchange to be settled through arbitration. Singapore Exchange had intended to launch the derivatives products on 4 June. In a statement issued yesterday, the […]
Singapore has slipped significantly down Asian rankings as the price of employing expatriates falls, according to an annual survey undertaken by MyExpatriate Market Pay and published today by ECA International. The average cost of employing an expatriate at a middle manager level of seniority in Singapore is now US$223,095 down from US$235,545. Lee Quane, regional […]
Isle of Man Department for Enterprise The Isle of Man Department for Enterprise has confirmed Aidan Doherty as non-executive chair and Michael Crowe as chief executive to lead the Finance Isle of Man Executive Agency. Finance Isle of Man is responsible for promoting and developing the island’s financial and professional services industry, ensuring its recognition […]
British asset management house Schroders is taking a minority equity stake in Singapore-based digital wealth services firm WeInvest. Terms of the deal, set to be completed in June, have not been disclosed. WeInvest provides banks, wealth and asset managers, insurance companies and independent financial advisors with an end-to-end investment offering covering the tech platform, investment […]
Six financial advisers have been issued with prohibition orders (POs) by the Monetary Authority of Singapore (MAS) for the mis-selling of investment products. The individuals involved include advisers from AIA, Prudential and Citibank Singapore. The actions taken against the six individuals follow what was a series of “wide-ranging investigations” by MAS. The individuals concerned have committed […]
HSBC Insurance (Singapore) has announced the launch of HSBC Insurance Online – offering one of the fastest online insurance application processes in Singapore. HSBC Insurance Online is a digital platform that offers simple and value for money term-based life insurance products online. Customers can complete the process within minutes by answering three simplified underwriting questions […]
The Monetary Authority of Singapore is seeking industry feedback on a proposal to “strengthen individual accountability of senior managers, and raise standards of conduct in financial institutions”, as part of what it says are its “broader efforts to foster a culture of ethical behaviour and responsible risk-taking in the financial industry”. The proposed guidelines set […]
Swiss-Asia Financial Services has announced the launch of its first cryptocurrency fund, in Singapore. The Kryptos Alpha Fund is an absolute return cryptocurrency hedge fund aiming to maximize returns while minimizing drawdowns. The fund will be managed by Zhuang Sheng Quan, co-founder of Kryptos Associates, a company specializing in providing technology solutions for cryptocurrency trading. […]
Nexus Group is to close its Singapore office as part of a strategic shift back onto its core Middle East business. According to reports, Nexus Financial Services, the Asian arm of UAE-headquartered Nexus Group, expects to close its Singapore operations later this year. Nexus Group, with its Nexus Insurance Brokers brand in the Middle East, […]
The city-state of Singapore has become the latest jurisdiction to unveil plans aimed at requiring companies to prioritise the hiring of local workers over expatriates, after a government minister on Monday announced changes to an existing pro-local hiring regime known as the Fair Consideration Framework. In a speech to Singapore’s Parliament, Manpower Minister Lim Swee […]
Hawksford Hawksford, the Jersey-based trust, private client and corporate and fund services provider, has named Irene Lee director of private client and corporate business development in its Singapore office. Hawksford said the role was a newly-created one, and that its creation underscored the importance of Asia to its business, and its plans for growth. As […]
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