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WITH its net profit hitting a record high of S$4.6 billion for the financial year ended Dec 31, 2022, the salary of United Overseas Bank’s (UOB) chief executive officer has also gone up.

SINGAPORE’S wealth managers say their clients are making portfolio adjustments in reaction to recent banking instability, but inflows continue to be strong.

ANALYSTS expect the number of banking positions to fall in Singapore in the wake of UBS’ takeover of Credit Suisse, due to redundancies after the merger.

HSBC has appointed Patrick George as head of markets and securities services, according to a memo seen by Reuters on Thursday (Mar 23) , amid a wider reshuffle of the leadership of its investment bank aimed at streamlining decision making.

BATTLING inflation and a crisis of banking confidence, the Federal Reserve is fighting a war on two fronts. 

UBS Group will likely shrink Credit Suisse Group’s US$10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday (Mar 19), the Wall Street Journal (WSJ) reported on Wednesday.

A CLUTCH of European central banks announce interest-rate decisions Thursday as markets remain jittery over turmoil in the global banking sector.

CREDIT Suisse appointed Kwong Kin Mun, the former South-east Asia wealth management head at Deutsche Bank, as its new vice chairman for the region.

CREDIT Suisse appointed Kwong Kin Mun, the former South-east Asia wealth management head at Deutsche Bank, as its new vice chairman for the region.

MARKET analysts expressed fresh concerns about uncertainties in US’ banking system, following US Treasury Secretary Janet Yellen’s comments about not considering any plans to insure all US bank deposits. Yellen’s comments overshadowed a dovish 25-basis-point rate hike by the Federal Open Market Committee (FOMC), sending riskier assets down.