Asia
Foreign managers to take 25% of China’s market – report
Global asset managers are expected to hold 25% of China’s mutual fund industry assets within a decade, due to regulatory changes and the competitiveness of the foreign firms, according to Shanghai-based consultancy firm Z-Ben Advisors.
Credit Suisse investigated by US watchdog
Swiss banking giant Credit Suisse is being investigated for its hiring practices in the Asia Pacific region.
Australia sets up financial complaints authority
A financial complaints authority has been established in Australia to deal with dispute resolutions, a move praised by the country’s securities and investment commission (Asic).
Hong Kong authorities raid company connected to Convoy
Hong Kong’s anti-graft body and market regulator have joined forces to raid the office of Town Health International Medical Group, a company that has strong ties to the embattled financial advisory firm Convoy Global.
DBS and Singapore university partner to train wealth managers
DBS Bank and Nanyang Technological University (NTU) Singapore have teamed up in a bid to build a sustainable talent pool of wealth management associates.