UBS said to make cuts to private banking in Singapore

UBS has cut a handful of private bankers from operations in Singapore and Hong Kong in recent weeks including a senior catering for the super rich in Southeast Asia, two people familiar with the matter said. Reuters reports that the bankers who have departed include Joseph Poon, head of UBS Wealth Management’s ultra-high net worth for Southeast Asia, one…

Lux group ups UHNW expansion with Swiss bank purchase

Luxembourg-based Banque Havilland has acquired Swiss bank, Banque Pasche in a push to expand its reach to ultra-high net worth individuals. Following the completion of the acquisition of Banque Pasche’s share capital, the bank will be renamed Banque Havilland (Suisse) S.A. This purchase comes just three months after the Luxembourgese bank acquired Banco Populare Luxembourg S.A. Approved…