Wealth Management News

Sarah Thompson and Joyce Moullakis Macquarie Group has laid off up to 35 people in its Asia-Pacific region structured and derivatives products division, sources said on Friday night. The cuts included as many as five local employees, while the remainder are thought to be based in Asia, with Hong Kong operations likely to bear the […]

The amount of private wealth held by households globally surged more than 14% to $152 trillion (£90tn) last year, boosted mainly by rising stock markets. Asia-Pacific, excluding Japan, led the surge with a 31% jump to $37tn, a report by Boston Consulting Group says. The number of millionaire households also rose sharply.

Sanat Vallikappen Singapore is poised to surpass Tokyo as the Asian city with the most ultra-high-net-worth individuals within a decade as its stature as a financial center increases with the region’s growth. Singapore will have 4,878 people with $30 million or more in assets excluding their principal residence by 2023, a 55 percent gain from last year, […]