Asia
Zurich buys Macquarie Life’s risk business
The Federal Court of Australia has approved the transfer of Macquarie Life’s risk insurance portfolio to Zurich Australia, a move that will see the Swiss firm become Australia’s fourth biggest retail insurer in the IFA segment.
Australian stockbroker took financial ‘advice’ from psychic
The head of a failed Australian stockbroking firm, which collapsed owing investors A$61m (£36m, $47m, €42m), took financial advice from a psychic who claimed she could ‘manipulate electromagnetic energy’ to get “better outcomes” for the company.
Australia’s Westpac to remove sales incentives for staff
One of Australia’s big four banks, Westpac Banking Corp, has announced plans to remove all product related incentives from frontline staff in its retail branches as part of efforts to rebuild trust with its customers.
Bank of Japan’s new weapon in inflation fight gets mixed reception
With news overnight that the Bank of Japan has unveiled a new form of stimulus, professional investors and economists reacted with mixed enthusiasm.
Hong Kong adviser aims to triple client base within a year
Chief executive Phil Neilson talks about starting Just Service HK from scratch, the future of fintech and ambitions to triple his client base from 500 to 1,500 over the next 12 months.