Hong Kong
Credit Suisse to pay $47m to resolve Asia hiring probe
Credit Suisse has agreed to pay a penalty of $47m (£35.1m, €40.1m) to the US Department of Justice (DOJ) to end an investigation into whether it hired employees in Asia in return for investment banking business and regulatory green lights.
Hong Kong’s affluent don’t trust advisers
Only 24% of Hong Kong’s growing number of affluent investors trust financial advisers, which compares to around 45% of those in the US, according to Michael Fong, managing director at Charles Schwab in Hong Kong.
Hong Kong wealth manager eyes Singapore expansion
US-listed Noah Holdings is exploring a Singapore wealth management office and has reported a 24% increase in overall profit for the first quarter.
Hong Kong regulator fines wealth manager HK$5m
Wealth manager Noah Holdings was fined by Hong Kong’s regulator for failure to comply with several requirements, including know-your-client and due diligence matters.
Alternatives | 24 May 18
Luxury asset structuring a major opportunity in Asia
Swathes of Asia’s greatest family fortunes held in alternative assets like fine art or watches are being overlooked by financial planners, according to an experienced trustee.