EFG Asset Management has hired a Singapore head amid uncertainty over its parent bank's takeover of Swiss rival BSI. AsianInvestor spoke to Moz Afzal, the fund firm's global CIO.
Private banks were already scrambling to review client lists after the Panama Papers leak – and now comes BSI Bank's shutdown in Singapore. A raft of new regulations has been tipped.
The city-state’s regulator has also referred the names of six former and current employees of the Swiss bank to the public prosecutor to evaluate whether they have committed criminal offences.
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Esther Heer's exit from the private bank comes following its recently agreed acquisition by Brazilian investment bank BTG Pactual.
She aims to double the North Asia team in five years, with initial sights set on a Greater China head, now that the Swiss firm has booking-centre status in Hong Kong.
Hanspeter Brunner and Esther Heer outline their regional plans, including bulking up in Hong Kong and determining the best onshore strategy for China and India.
The RBS Coutts veteran becomes the next to depart the UK firm for the Swiss private bank, which has also hired Ciro Ahmad as chief operating officer.
The Swiss private bank has been hiring feverishly in the region, but may find it harder to attract talent down the road.
Contrary to previous reports, former RBS Coutts chief executive Hanspeter Brunner has joined Swiss private bank BSI.