The deal will create an entity with $45 billion under management in Asia, but there are obstacles to integrating the businesses, note industry observers.
The Dutch bank is making an announcement about the sale to LGT at a townhall meeting this afternoon.
Singapore’s DBS is hungry for more acquisitions after agreeing to buy ANZ’s Asia retail and wealth business. But ABN Amro’s Asian private bank may be another step too far, too fast.
The Royal Bank of Scotland will not face any disciplinary action from local authorities after it agreed to repurchase Lehman-linked equity notes sold to professional investors at 100%.
The bank agrees to buy back equity-linked notes issued to retail investors between July 2007 and May 2008.
Much-increased market volatility and a more flexible short-selling regime are combining to boost interest in high-frequency trading in Japan.