Companies
Convoy execs arrested for suspected corruption
Three senior executive of Convoy Financial Services, one of Hong Kong’s largest IFA firms, have been arrested on suspicion of corruption and eight properties raided, the Independent Commission Against Corruption (ICAC) has confirmed.
Chinese asset manager becomes second biggest HSBC stakeholder
The asset management arm of China’s Ping An Insurance has become the second largest shareholder in HSBC after a recent acquisition pushed its stake over the 5% stock exchange notification threshold.
10 Chinese banks oppose new asset management rules
New rules from China’s Central Bank that look to tighten regulations in the asset management industry have reportedly been opposed by 10 national joint-stock banks.
International financial adviser hits £1bn milestone
International professional services firm Mazars is to add £300m in assets following the acquisition of RCL Consultancy from The Embark Group.
Hong Kong IFA firm Convoy halts trading following raids
Trading of Convoy Financial Services shares have been suspended on the Hong Kong Stock Exchange (HKSE) following multiple reports authorities have raided offices, homes and arrested executive directors.