Singapore
Ex-Goldman Sachs banker banned in 1MDB scandal
Former Goldman Sachs director Tim Leissner has been banned from working in Singapore’s financial services industry for 10 years for his involvement with stricken Malaysian sovereign wealth fund 1MDB, with further prohibition orders expected.
Aviva strengthens foothold in Singapore with 420 advisers
Insurance giant Aviva has revealed it employs 420 financial advisers in its Singapore advisory unit which was established less than a year ago.
Singapore life industry must tackle ‘poor advice practices’
Life companies in Singapore must do more to improve the business culture within their organisation following a number of mis-selling cases involving poor or inappropriate financial advice, a senior official from the Monetary Authority of Singapore (MAS) has said.
Agriculture sector funds in HK carry highest fees
Agriculture is the most expensive equity sector for mutual fund investors, based on the average of annual fees charged by sector-focused funds available for sale in Hong Kong.
Allfunds Bank to be sold in €1.8bn deal
Allfunds Bank is to be sold to private equity firm Hellman & Friedman and Singapore’s sovereign wealth fund, GIC, in a deal that values the European mutual fund platform at €1.8bn (£1.55bn, $1.9bn).