BoM, SBI only PSBs rated ‘good’ in digital transactions in December: Government data. Mumbai: Bank of Maharashtra and State Bank of India are the only two state-run banks that showed ‘good’ performance in terms of digital transactions in December with a score of 77 and 68 respectively, government data showed. The score for an individual…
The SEC will allow US brokers to continue bundling execution and research payments for another three years. In October of 2017, the SEC published a ‘no-action letter’, stating that American firms did not need to actively adhere to MiFID II’s unbundling guidelines. This letter was due to expire in July 2020. This latest statement by…
Wealth management in Japan is a totally different story to anywhere else in the world. In most of Asia it is about rising youth, an emerging middle class and the technology required to serve them. In Japan, it’s nothing like that. Daiwa president and chief executive Seiji Nakata shows Euromoney a chart revealing the segmentation…
Barclays has rebalanced its equity focus away from the U.S. and toward Europe and emerging markets for 2020. In its 2020 outlook, published Wednesday, the British lender said it expects European equities to deliver further gains, setting a target for the Stoxx 600 of 430 by the end of 2020, up 6% from Wednesday’s open. The rise is…
The US Securities and Exchange Commission has granted a three-year extension to the MiFID II relief period for American firms. The SEC will allow US brokers to continue bundling execution and research payments for another three years. In October of 2017, the SEC published a ‘no-action letter’, stating that American firms did not need to…
Managers of $350 Billion Survive Nordea’s Cuts as Wealth Thrives As regular bankers at Nordea Bank Abp brace for yet another round of cuts, those lucky enough to be working in wealth management face a very different future. The head of Nordea’s wealth unit, Snorre Storset, says a plan to cut jobs across the organization won’t affect…
UBS Adds $16 Billion From Rich Clients as Assets Hit Record UBS Group AG’s rich clients added $15.7 billion in new money last quarter, giving a boost to star hire Iqbal Khan as he seeks to reinvigorate the key wealth management unit. The inflows lifted assets overseen for the affluent to a record $2.5 trillion,…
Bank J. Safra Sarasin signs on as Davis Cup finals sponsor Bank J. Safra Sarasin has been unveiled as an official partner and the official private bank of the finals stage of this year’s Davis Cup men’s national team tennis tournament. The Swiss-based bank’s agreement with the International Tennis Federation and Kosmos Tennis also names…
Julius Baer’s European Build-Out And Its UK Ambitions This publication recently sat down with the head of Julius Baer’s business in the UK and Ireland. One of Switzerland’s largest banks has been spending to build teams in the UK and Portugal and working on other European markets in ways that it hopes will bear fruit…
UBS Dubai Wealth Management Head Resigns Swiss bank UBS has lost its head of wealth management and its senior executive officer for its Dubai branch. The veteran banker resigns after two years in the job, finews.asia can reveal. Cedric Lizin resigned from his position earlier this week, after two years with the bank. Swiss bank…
