Indonesia’s Bank Mandiri has signed a strategic partnership with Swiss private bank Lombard Odier to develop its private banking business through investment and family services. Under the partnership, the Indonesian bank will launch onshore discretionary management services for its wealthy clients this month. The new service will provide varied risks profiles suited to the unique…
The chief executive of LGT Group, the Liechtensten-headquartered bank that bought ABN AMRO’s Asian private bank just over a year ago, says the number of “sizeable” private banks in the region will fall. Prince Max von und zu Liechtenstein, CEO of LGT Group, told the South China Morning Post that consolidation will continue to be a feature of…
US banking giant Citigroup, which has a private banking segment, will set up an innovation centre in London, according to the Financial Times. The firm will reportedly hire around 60 technologists for the centre. The centre in London will also house the EMEA unit of Citi ventures and employees from across the company’s businesses It will…
Bank of Singapore has just added to the long list of existing banks that have decided to expand or locate in Dubai. They decided to add some 25 relationship managers to its Dubai branch by 2020 in a bid to win business from non-resident Indians and wealthy Middle East clients. Bank of Singapore’s assets under…
Published in Monaco economie, article by Laetitia Reynaud …
This morning the Swiss private bank, Julius Baer takes stock of its 2017 year and reveals some very good result. By reported a 14 per cent year-on-year rise in adjusted net 2017 profit to a record $864 million. At the same time, Julius Baer also announced it has agreed to buy 95 per cent of Brazilian…
The first name who come in mind to answer this question would probably be the powerful JP Margan Chase or Bank of America. They both have been overtaken long ago by the Chinese giants such as ICBC, China Construction Bank and Agricultural Bank of China in the list of the largest banks in terms of…
The bitcoin, the mysterious value created by mathematicians on internet is gradually conquering the real economy. Bitcoin frees itself from the dark side of the Web and settles in everyday life you can now easily find it thanks to special distributor and exchange office or buy with it in certain shops. If this virtual money…
It’s official the global debt now amounts to 324% of the world’s annual economic output, according to a report publish by the Institute of International Finance. Worldwide debt has risen to a record $226-trillion (192.000 trillion euros). This report is released just before, several of the world’s major central banks prepare to tighten their monetary…
There are a lot of banks who are planning to increase their headcount in Saudi Arabia such as Goldman Sachs, JPMargans, UBS and Citigroup.The reason is simple they all expect lucrative opportunities from the recent economics reform that lead to the country’s massive privatisation and its increasingly liberalised financial markets. Goldman Sachs regional boss, Wassim…
