Asia
Prudential may divide UK and Asia units amid reported review
Prudential has kicked off a review of its £45bn ($57.2bn, €53.6bn) pension liabilities business in a move that could see the break up of its UK, US and Asian operations.
Hong Kong and Switzerland sign mutual fund recognition deal
Switzerland and Hong Kong have signed a deal which will allow eligible mutual funds to be distributed in each other’s markets through a streamlined vetting process.
Singapore bans star dealmaker as banks fined £5.3m over 1MDB
An ex-Goldman Sachs banker is facing a ban from Singapore’s securities industry , while Standard Chartered and Coutts have been hit with record fines for their roles in Malaysia’s 1MDB scandal.
Australia’s IOOF considers buying ANZ’s wealth business
Australian-listed financial services firm IOOF Holdings has indicated it is interested in buying the ANZ bank’s domestic wealth management business.
St James’ Place doubles adviser numbers in Asia
St James’s Place has expanded its presence in Asia as it moves from servicing expats and looks to target the region’s high net-worth individuals (HNWIs), said Mike Gravestock, partnership director for Asia and international.