UBS Sees 25 Asia Family Office Clients This Year

UBS AG’s Global Family Office division aims to begin serving 25 clients in Asia this year, with assets of at least $200 million each, Amy Lo, managing director and head of ultra-high net worth, Asia-Pacific, told journalists in Singapore today.


Wealth tax to span watches, paintings...

Deposits in foreign banks, paintings, sculptures and expensive watches may come under the wealth tax net as part of the government's drive to unearth black money.


Wells Fargo relocates to new branch in Tokyo

Nearly 40 team members from Wells Fargo’s International group will be based in the new branch, located at Marunouchi Trust Tower Main 24th Floor, 1-8-3 Marunouchi, Chiyoda-ku, Tokyo, Japan.


China set to become biggest gold market

India has for decades been the world’s largest gold market, but in the final quarter of 2011 demand tumbled by almost half from a year earlier as a collapse in the value of the rupee made gold more expensive for Indian buyers.


Kazakhstan to overhaul $84 billion national wealth fund

Umirzak Shukeyev’s criticisms come as a pointed attack on the fund’s management under his influential billionaire predecessor Timur Kulibayev, who is the son-in-law of the energy-rich Central Asian nation’s president.


CBA profits up 19%, wealth management struggles

The CBA has recorded a statutory net profit after tax for the half year ended Dec 31 2011 of $3.624 billion, a 19% increase on the previous corresponding period, in a strong result unaided by its wealth management arm which recorded a loss.


Indians have $500 billion ‘stashed in tax havens’

He said getting information about such illegal transactions is a time taking process as investigators have to peel each layer by sending judicial requests to the country where such deposits have been made.


Taiwan may allow yuan-based wealth management investment

An official of the Financial Supervisory Commission (FSC) said on Monday that it was looking into ways to allow Taiwanese to open accounts at Hong Kong or mainland branches of Taiwan banks without having to go to the branches in person.