PEOPLE MOVES: Pakistan, Old Mutual Wealth, Jupiter
The Panama Papers fallout continues with the prime minister of Pakistan resigning. Old Mutual Wealth has hired an investment specialist to support advisers, while Jupiter’s head of Middle East & Africa has left the company.
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.
Barclays shedding more investment jobs in Asia
Barclays is expected to announce further job losses in its Asia investment banking sector, with corporate finance and advisory staff in South Korea and Taiwan and equities sales and research staff across the region also under the cosh, according to Reuters.