Global Business Network
Banks in developed Asian economies are increasingly looking to acquire stakes and broaden their franchises in emerging economies around the region, as they contend with saturated local markets, low interest rates and constrained domestic growth prospects. Leading banks in Japan, South Korea and Singapore have stepped up their offshore expansion strategies over the past few … Read more
HSBC’s $575m acquisition of insurance giant Axa’s Singapore arm, which was announced on August 16, represents a ramping up of the bank’s ambitious ‘pivot to Asia’ strategy. As part of this strategy, HSBC is also looking to expand its wealth management services across the region. The UK-based banking group plans to invest $6bn in Asia … Read more
In the same week that Gary Gensler, chair of the US Securities and Exchange Commission, sought additional powers to protect investors from “Wild West” cryptocurrency markets, Singapore was poised to grant regulatory consent to a cryptocurrency exchange for the first time. Australia’s Independent Reserve has secured an ‘in-principle’ approval from the Monetary Authority of Singapore … Read more