McKinsey: Top Five Challenges for Asian SFOs - finews.asia
Sep 6, 2024 · According to a McKinsey report based on interviews with senior industry representatives, there are five main challenges faced by family offices in Asia: weak governance, rising operational costs, limited alternatives access, limited understanding about insurance and other value-added services as well as out-of-date technology. Weak Governance.
Singapore Boasts Hundreds of New Family Offices - finews.asia
Mar 7, 2024 · Singapore continues to attract ultra-rich individuals after luring hundreds of new single family offices in 2023. As of 31 December 2023, there were around 1,400 single family offices (SFOs) that have been awarded tax incentives, according to Deputy Prime Minister Lawrence Wong in response to a parliamentary question.. This marks a 27 percent increase year-on-year from end-2022, which saw ...
Singapore’s Wealth Management Status Challenged
Apr 1, 2024 · Singapore Inc Proposition. As one of the key players in Singapore’s wealth management sector, DBS believes the ‹Singapore Inc› proposition – a combination of attributes including strong rule of law as well as political and economic stability, among others – will continue to appeal to ultra-high net worth clients and families worldwide ...
Citi: APAC Family Offices Are Rapidly Professionalizing
Sep 19, 2024 · Family offices in the Asia Pacific region are rapidly becoming professionalized. For example, it leads among all regions worldwide in terms of separation from the family business, as agreed by 75 percent of respondents in a report by Citi Private Bank entitled «Global Family Office 2024 Survey Insights». It was also a global leader in having ...
China’s Growth Disappoints - finews.asia
Oct 18, 2024 · China’s Growth Disappoints. GDP just misses the 5 percent target, but the real question is whether the country is caught in the dreaded middle-income trap. No one can say they didn’t see it coming. But still, when the expected number gels into fact, it feels like a letdown. China’s National Bureau of Statistics released Gross Domestic ...
SSGA: Asian Investors Plan to Up Fixed Income Allocations
Sep 24, 2024 · Asia Pacific investors are planning to allocate nearly 46 percent of their assets to fixed income over the next 12 months, according to a survey conducted by State Street Global Advisors and sponsored by ABF Pan Asia Bond Index Fund, up from 37 percent a year ago. By region, Asia ex-Japan will lead in allocations at 28 percent. This is followed ...
Singapore AML Audits Get a Reboot - finews.asia
Oct 22, 2024 · Banks scrutinize best practices after the city-state’s historic money laundering scandal. By Singapore’s standards, the scale was epic. About $2.3 billion in seized assets and at least 10 arrested and convicted, as finews.asia has extensively documented since the crimes first became public at the end of 2023.. It ruffled the feathers of …
Financial Crime Compliance Costs Rise in Asia - finews.asia
Mar 6, 2024 · The majority of financial institutions in APAC (98 percent) saw an increase in financial crime compliance (FCC) costs, amounting to $45 billion in 2023, according to a recent LexisNexis study. 75 percent cited the need for highly skilled compliance professionals as the primary driver of higher costs. Of the total compliance costs, labor and ...
The Post-Pandemic Global Debt Mystery - finews.asia
Aug 22, 2024 · Up and Down. Since the end of the pandemic, global debt has reached a new record high of $315 trillion - although that is contrasted by a significant contraction in the world’s debt-to-GDP ratio. The visualization, which is based on IIF Global Debt Monitor data, says it currently stands at 333 percent, down from levels slightly above 360 ...
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May 4, 2023 · Maxime Perrin: «Investors Must Invest in the Transition Itself». finews.asia publishes on its own Web-TV-Channel features and interviews with well-known figures of finance.
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