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Global banking leaders targeting growth in SE Asia 12:00 | 23/02/2021 Global banking leaders targeting growth in SE Asia, illustration photo HSBC will be naming a new head for its Singapore operation, along with its expansion plan in the region. Europeâs largest lender is preparing to announce the outcome of a strategic review next week, alongside its full-year results. According to Bloomberg, HSBC is seeking to gain a bigger slice in Southeast Asia where it has been struggling to compete with dominant players such as DBS Group Holdings and Standard Chartered. âHSBC wants to further raise its capability and presence in South Asia, and Singapore is central to this drive and ambition,â said Peter Wong, HSBCâs top executive in Asia. ....
Deal expands company’s network to nine markets across Asia 19 Jan 2021 | UOB Asset Management (UOBAM) is strengthening its presence in the Asean region through the completion of its acquisition of VAM Vietnam Fund Management Joint Stock Company (VAM VN). With the latest addition of Vietnam to its regional network, UOBAM now has presence in nine markets across Asia – Brunei, mainland China, Indonesia, Japan, Malaysia, Singapore, Taiwan, Thailand and Vietnam. Founded in 2009, VAM VN provides investment management advisory and services to institutional and individual investors through solutions such as corporate structured funds and segregated accounts. The firm will be renamed UOB Asset Management (Vietnam) Fund Management Joint Stock Company, subject to regulatory approval. ....
Singapore’s UOB Asset Management Ltd has completed its S$6.7 million (US$5.04 million) acquisition of VAM Vietnam Fund Management Joint Stock Company, a move that expands its operations to nine countries in Asia, including China, Indonesia, Japan, Malaysia, Taiwan and Thailand. The acquisition was announced on December 2, 2019. The Vietnamese firm, which had 114 billion dong ($4.95 million) of assets under management as of end-October 2019, will be renamed UOB Asset Management (Vietnam) Fund Management Joint Stock Company. Thio Boon Kiat, group chief executive officer of the Singapore asset manager, describes Vietnam as a “rising star” in Southeast Asia, and says the company can now offer its suite of solutions to institutional and retail investors there. ....
Dec 17, 2020 Hubbis Singtel and UOB Asset Management (UOBAM) have announced that they have signed a Memorandum of Understanding (MOU) to offer dynamic and personalised robo-advisory investment solutions to individual investors through Singtel’s Dash mobile wallet. The collaboration will see Singtel and UOBAM introduce a customised mobile robo-adviser for Dash customers, the firms said in a press release. The robo-adviser, leveraging technology, data analysis and algorithm-based tools, will be able to provide advice on investment products personalised to the customer, making digital investments more accessible to consumers and empowering them to grow their wealth simply and smartly. This paves the way for Dash to make its foray into wealth management and furthers its goals of digital and financial inclusion by expanding the app’s range of mobile financial services offerings. ....
Singapore Telecommunications (Singtel) and UOB Asset Management plan to launch what they say will be a customised robo adviser for retail investors via Dash, the former’s mobile wallet, in the first half of 2021. Dash users will be able to invest in a portfolio of exchange-traded funds (ETFs), managed funds and other asset classes, managed by UOB. “The investment portfolios offered through the robo adviser will be highly personalised based on the customers’ risk profile, investment horizon and financial goals,” UOB says in a statement on December 15. It did not provide figures on the number of Dash users. The new robo adviser will join a field that has become more crowded in the three years since the first of them, StashAway, made its debut in 2017. ....