Singapore
Wealthy Singaporeans favour cash compared to HK counterparts
High net-worth individuals (HNW) in Singapore hold greater amounts of cash and deposits compared to their Hong Kong counterparts, according to Ivan Han, a Singapore-based senior analyst at Cerulli Associates.
Asia’s wealth managers turn to local markets for new hires
Wealth management firms in Asia are ramping up domestic recruitment due to rising demand by Asian clients for advice from managers with local knowledge, language skills and cultural understanding.
Former French budget minister jailed for tax evasion
Jerome Cahuzac, a cosmetic surgeon and former French budget minister tasked with cracking down on tax evasion, has been jailed for three years after he was found guilty of tax fraud and money laundering.
Singapore regulator considers ethics training for advisers
The Monetary Authority of Singapore (MAS) is looking to introduce an ethics module in exams taken by financial advisers and capital markets intermediaries, in the wake of the 1MDB scandal.
Singapore’s AAM on life after being acquired by Old Mutual
Old Mutual Wealth’s shock decision in February to buy AAM Advisory, the largest expat-focused IFA firm in Singapore, has in some ways felt like “having a tooth removed”, according to chief executive Matthew Dabbs.