Wealth Management
DBS buys ANZ Asia wealth units, nets $16.5bn in assets
The trend of banks offloading assets continues as Singapore-based DBS acquires ANZ’s WM and retail units in Asia, adding S$23bn ($16.5bn, £13.5bn, €15bn) of wealth assets, which includes S$6bn from high net worth individuals.
Farringdon to launch Shariah-compliant robo-adviser in Asia
The Malaysian-based wealth management firm, Farringdon Group, said it plans to launch Asia’s fist Shariah-compliant robo-adviser in December.
Credit Suisse sets up wealth mgmt firm in Channel Islands
With Credit Suisse ending direct client coverage out of the Channel Islands, the Swiss bank has set up a wealth management firm with local financial service provider Stenham Group, that will act as an external asset manager (EAM) for the bank regionally and elsewhere.
US wealth manager SEI to close Dubai office
US-headquartered SEI is to close its office in the Dubai International Financial Centre next month and will service its Middle East clients from London.
Neptune and Raymond James join forces for DFM launch
UK-based fund manager Neptune Investment Management is to launch a discretionary fund management business in partnership with Raymond James Investment Services under the moniker Equester Capital Management.