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South Korea’s financial regulators last week approved plans by Goldman Sachs and the Royal Bank of Scotland to shut down their branch banking operations in South Korea, according to local reports. Goldman Sachs and Royal Bank of Scotland have been working to exit South Korea as part of their cost-cutting efforts, Yonhap News Agency reported. Goldman […]
The head of South Korea’s financial services regulator vowed today to step up efforts keep foreign banks and other financial services firms from leaving, in the wake of a number of high-profile departures. “It’s worrisome that the branches of some foreign financial companies have withdrawn or scaled down their operations,” Jeong Eun-bo, vice chairman of […]
The chairman of South Korea’s Financial Services Commission, who has previously spent time in the UK as a diplomat with the Korean Embassy in London, has taken the unusual step of detailing his country’s recent reforms to its financial sector in a comment piece published yesterday on the website of the Wall Street Journal. “Since […]
South Korea-based Shinhan Bank is targeting high-income expats living in Seoul, with the opening of a new financial services centre in the city, the English language Korea Times has reported. The new service, called the Shinhan International Finance Center, will open for business on Friday, and will be manned by five private bankers, according to the report. […]
Emerging markets equities were volatile amid macro stresses in 2014, but rose 2.5% for the year through November. Sharp oil price declines in December tipped the scales and, as investor confidence wavered, the MSCI Emerging Markets Index went from year-to date gains at November-end to a 2.2% loss for the full year in US dollar […]
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Peter Brigham, of Monaco's Rosemont International, explains why a multi-faceted global strategy is needed today for HNW clients
