Private Capital Awards 2022: New challenges alter the game for private banking
Announcing the winners of The Asset Triple A Private Banking and Wealth Management Awards 2022
6 Oct 2022
Morgan Stanley is broadening its footprint in China after becoming the latest foreign financial institution to obtain regulatory approval to take full control of its mutual funds joint venture in the country. Morgan Stanley Investment Management has received the green light from the China Securities Regulatory Commission (CSRC) to increase its stake in Morgan Stanley Huaxin Funds from 49% to 100%. The equity step-up is subject to business registration and other procedures required by Chinese regulators.
6 Feb 2023
Standard Chartered has appointed Peter Tung as regional head, private banking, Greater China and North Asia (GCNA).
3 Feb 2023
Zodia Custody, a London-based crypto asset servicing provider for institutional investors, has established a joint venture with SBI Digital Asset Holdings (SBI DAH) in Japan. The joint venture, with SBI DAH holding a 51% interest and Zodia Custody owning the remaining 49% stake, will act as a crypto assets custodian targeting institutional clients.
2 Feb 2023
Asian mutual funds face brighter prospects this year after a challenging 2022. As inflation cools and central banks are likely to slow the pace of rate hikes, stability is expected to return to interest rates, Cerulli Associates says.
2 Feb 2023
HSBC has completed the legal integration of AXA Singapore and HSBC Insurance (Singapore) via a scheme of transfer, marking the start of the insurance operations of the combined business under HSBC Life Singapore.
1 Feb 2023
China’s venture capital and private equity market went through a difficult 2022 with a drop in the number of new funds and overall subscription size. Internet, real estate and consumption were the top three sectors that saw the largest decrease in VC/PE investment. But VC/PE’s penetration rate in Chinese initial public offerings rose last year, with leading players getting more IPO deals.
31 Jan 2023
Clients are demanding more intuitive technology and broader services from their private banking and trust providers. And as such, these organizations require greater economies of scale to invest in enhancing their offerings. More than two-thirds (68%) of private bank and bank trust executives are actively considering merger and acquisition (M&A) opportunities to grow and adapt their businesses, according to the latest Cerulli Edge – US Asset and Wealth Management Edition.
30 Jan 2023
Increasing shareholder activism is expected to play a crucial role in sustainable investing in 2023 as investors and asset managers become more resolute in pushing corporate and financial institutions to achieve sustainability targets, according to Federica Calvetti, head of ESG and strategic activism at Eurizon, the asset management unit of Italy’s largest financial group Intessa Sanpaolo.
30 Jan 2023
Global investment in the low-carbon energy transition totalled US$1.1 trillion in 2022 – a new record and a huge acceleration from the year before – as the energy crisis and policy action drove faster deployment of clean energy technologies, according to a new report. In another first, investment in low-carbon technologies appears to have reached parity with capital deployed in support of fossil fuel supply, research firm BloombergNEF (BNEF) says in its Energy Transition Investment Trends report.
27 Jan 2023