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• August 24, 2010 - Singapore Regulator Lifts Ban On Sale Of Structured Notes
  

  The Monetary Authority of Singapore has lifted the ban on the sale of structured notes on six brokerage firms. With immediate effect, CIMB Securities, Kim Eng Securities, . .

• August 24, 2010 - TPG To Set Up Second China PE Fund
  

  San Francisco-based TPG, a private equity company headed by David Bonderman and Jim Coulter, is setting up a RMB5 billion (about $750 million) fund in association with the municipality of Chongqing to invest in private companies as China seeks to develop its inland provinces, according to Bloomberg. “We see Chongqing as the center of growth for western and central China and the transformation of both the consumer and industrial base in that area,” Coulter told the news service.   This follows the signing yesterday by TPG of an agreement for another RMB5 billion fund with the Pudong d.

• August 24, 2010 - Perpetual To Expand Wealth Business After Posting Strong Annual Gains
  

  Perpetual, the Australian fund manager, saw its net income surge to A$90. 5 million ($81 million) in the year to 30 June, from A$37. 7 million in the previous year.

• August 24, 2010 - UBS Makes Senior Asia Appointment
  

  The Singaporean arm of the Swiss banking giant UBS has appointed Reto Marx, currently managing director, as its new head of financial intermediaries for the Asia Pacific region with immediate effect, WealthBriefingAsia has learned. In his new role, Marx, who joined the firm in January 2010, “will lead the organisation on a day-to-day basis in Hong Kong and Singapore,” according to an internal memo seen by this publication. Marx’s appointment is intended to further support the current FIM business’s organisational structure in the region within the group-wide FIM strategy.

• August 22, 2010 - Emirates NBD Names London Private Banking Head
  

  Emirates NBD has appointed Iyad Quttaineh as its new head of private banking in London, this publication has learned. Quttaineh started his role on 30 June and was previously a senior investment manager at BNP Paribas. When contacted by this publication on the matter, Emirates NBD declined to comment.

• August 22, 2010 - AMP Private Wealth Poised For Growth In The HNW Sector
  

  AMP Private Wealth Management is seeing good things ahead for its new high net worth advice unit, Investor Daily writes. Since it was established in the second half of 2009, the division has attracted 170 clients and A$184 million ($165 million) in funds under advice. Much of its success is attributed to the division's core business performance, cost control strategies, and robust profit margins.

• August 22, 2010 - Asia's Wealthy Snap Up McDonald's Bonds In Hong Kong
  

  Private banking clients and high net worth individuals will be the likely buyers of McDonald's Corporation's first issuance of yuan-denominated bonds in Hong Kong, according to a report by The Wall Street Journal. The international fast food chain announced recently that it is seeking to raise RMB200 million (approximately $29 million) through three-year bonds that generate a 3 per cent annual interest. The deal was underwritten by Standard Chartered.

• August 22, 2010 - Citigroup Cranks Up Wealth Management Drive In Asia With Top Hire
  

  Citigroup has hired Paul Hodes as Asia Pacific head of traditional managed investment products for its wealth management business and head of wealth management products for the region’s consumer bank, as part of a bid to get greater exposure to the region’s wealthy. Hodes was previously head of the group’s Malaysian retail bank and in his new role will lead sales of products such as fixed-income and equities to the Asia-Pacific region’s high net worth clientele. He will report to both Debashish Dutta and Jonathan Larsen, regional heads of investments for wealth management and consumer banking, respectivel.

• August 22, 2010 - Foreign Banks With Insurance Plans Face Stricter Guidelines In India
  

  The Reserve Bank of India is implementing stricter rules over the business presence of foreign financial institutions in the country. To protect domestic businesses, the FDI has proposed that foreign direct investment proposals of private banks with insurance joint ventures or subsidiaries should get the approval of two regulators before they can operate: the RBI and the Insurance Regulatory and Development Authority. .

• August 22, 2010 - UOB Launches Privilege Banking Branch At Marina Bay
  

  United Overseas Bank has launched a new branch at Marina Bay Sands that caters to clients of its Privilege Banking service. "With Asia driving the global economic engine, and the growing number of affluent Asians, there are many opportunities to be part of the ballooning wealth management business," James Phoen, the head of the Privilege Banking unit's offshore division, said in a statement. The Privilege Banking service targets clients with at least $200,000 in investable .




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