Asia
Alternatives | 29 Jan 18
Massive cryptocurrency hack spooks investors
One of Japan’s biggest cryptocurrency exchanges was hacked and around JPY58bn (£377m, $534, €429m) of virtual currency NEM stolen, prompting a fall in its value of 11% over a 24-hour period, it was revealed on Friday.
PEOPLE MOVES: HSBC Private Bank, Deutsche Bank, Savills IM
HSBC Private Bank has appointed a head of Luxembourg, Deutsche Bank Wealth Management has appointed a team to lead its non-resident Indian offering in Singapore and Savills IM pivoted toward Asia with series of senior moves.
Swiss and HK sign wealth management deal
Switzerland and Hong Kong have signed a trio of deals to strengthen financial services between the jurisdictions.
DBS to grow Asia private banking headcount up to 20%
Singapore’s DBS Group is to grow the number of people working in its private banking business even further to tap into rising Asian wealth, having already added 20% to its headcount in 2017.
SJP funds under management hit record
St James’s Place (SJP) Wealth Management has more than £90bn (€102bn, $127bn) of group funds under management, making 2017 a record year for the restricted advice company.