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.
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.
The new study finds that the rapid growth of the number of ultra-high net worth individuals in Asia – with for example, China having the second highest concentration of billionaires in the world— coupled with the upcoming intergenerational tra
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.
At the same time, deposit growth at Chinese banks last year slowed to 12.7 percent after rising 20 percent in 2010, central bank data show.
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.
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.
While top executive compensation levels in India compare favorably with the West, it is alarming that pay governance is yet to find a prominent place on the board agenda, PwC said in a report on executive remuneration.
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.