Asia
Aussie bank CBA set for A$4bn global asset management arm IPO
Commonwealth Bank of Australia is to list its Colonial First State Global Asset Management business in a deal that analysts predict could net as much as A$4bn (£2.2bn, $3.1bn, €2.5bn).
Praemium funds hit A$7.8bn despite tough market
Amid sharp declines in equity markets, Australian investment platform Praemium reported its third highest gross inflows on record and saw funds under administration rise 5.2% to A$7.8bn (£4.25bn, $6bn, €4.9bn) during the first quarter of 2018.
AMP admits misleading Aussie regulator over fees
The group executive of advice at financial services giant AMP has admitted the firm intentionally misled Australia’s regulator over fees, as the Royal Commission into banking, superannuation and financial services targets financial advice.
China quadruples mainland-Hong Kong trading scheme quotas
China’s securities regulator has announced a four-fold increase in the daily trading quotas for Stock Connect, the programme that links the Shanghai and Shenzen stock exchanges with their Hong Kong counterpart.
PEOPLE MOVES: RSM UK, Stonehage Fleming, FASEA
RSM UK promotes to fill chief operating officer role, Stonehage Fleming appoints a director to its Jersey office and an Australia adviser standards agency has named an acting managing director.