Asia private banks get US amnesty warning

Private banks in Asia could well be next under the spotlight as US authorities step up their campaign to clamp down on tax avoidance, according to Latham & Watkins.


ANZ Wealth joins Monash-CSIRO Super Research Cluster

The pre-eminent retirement incomes research organisation, the CSIRO-Monash University Superannuation Cluster, has secured another significant private sector backer with the decision by ANZ Wealth to join its ranks.


Ray White distances itself from Wealth Market

Property giant Ray White has moved to distance itself from family-owned Wealth Market, stressing it will have no directional affiliation with the soon-to-be-launched venture.


DBS ups high-net-worth assets by almost 30%

With the acquisition, DBS said it now has S$88 billion in high net worth assets under management and S$129 billion in assets under management for all wealth customers.


Alibaba gets permission to set up private bank in China

Alibaba is the latest company outside the financial sphere to win approval to start a bank in China. Beijing hopes private banks will help in its drive to open up the economy to more competition and get private capital to more parts of the economy.