Tim Baxter, Stanchart’s London-based head of corporate communications told Euromoney: “Yes, there has been a breach.”
The last five years have seen numerous Swiss banks and European banks set up operations in Singapore, due to a growing trend towards transparency in various jurisdictions, said Mr Edmund Leow, a principal at law firm Baker & McKenzie.Wong & Leow.
"At a time when many businesses are struggling to cope with challenging business conditions, it's vital they look to improve the way they operate at a fundamental level - only those that do so will survive and even thrive in the current environm
Roy, who bought the Grosvenor House hotel in London last year, is competing with the Abu Dhabi Investment Authority, and Indian investor Blue Post Group, according to the newspaper.
Charles Wang Hongxin, chief executive of E Fund's Hong Kong branch, said distributors including banks require more time to familiarize themselves with the new products.