InvestorDaily

Hong Kong is one of our four coverage locations, and we especially love a visit during the colder months from December through to February. Not normally associated with a colder climate, Hong Kong has a lovely mild winter with temps dropping to about 14C with clear mornings and, in stark contrast to the humid summer, it is a great time to go for a long hike to explore the island.

January is the coldest and the driest month of the year in Hong Kong, making it the ideal time for a holiday or business trip, when wearing a full suit to meetings is pleasant. The locals are understandably excited every year when winter comes, and pull out their heavy down coats and puffer jackets, adding to the winter ambience. The shopping is also fantastic in January with Lai See (lucky money) sales galore, and great deals to be had from early January all the way up to Chinese New Year. It’s a good idea to coincide your visit with the Chinese New Year to enjoy all the festivities (this year 5th-19th February).

January is the peak blooming season for many native Hong Kong flowers, making for an especially beautiful time for a hike in the clear air. This year WinterFest is showcasing a unique Pulse Light Festival running until late February. If you haven’t visited the recently renovated Tai Kwun definitely go check it out. With a convenient entrance from the Mid-Level Escalator, Tai Kwun is a beautifully restored heritage and arts centre with a peaceful open-air plaza surrounded by restaurants and boutique art spaces.

We hope all our candidates and clients had a fantastic festive season. We look forward to an exciting and productive 2019 working with you all.

InvestorDaily

On Tuesday 18 December, the prudential regulator announced that Xinja Bank Limited has been officially authorised as a restricted deposit-taking institution (RADI). Xinja is only the second Australian neobank to receive this status. Volt Bank was granted a RADI in May, literally days after APRA finalised the framework, which was created in response to the government’s push for greater innovation and new entrants to the banking industry.

However, as its name suggests, a restricted ADI licence has significant limitations. A RADI is really a stepping stone on the journey to acquiring a full banking licence. It allows neobanks like Xinja and Volt to conduct limited banking capabilities for a maximum period of two years while they develop their capabilities and resources. It also gives them time to raise the significant levels of capital required to meet APRA’s demands for a full banking licence.

The rest of this article can be found at investordaily.com.au.

2018 has proved to be a big year for financial services. The new year is sure to usher in many changes to the industry, but that’s not to say that 2018 has been stagnant. We’re taking a look back at some influential events from the past year and considering where that will take us in the year ahead.

Low global interest rates made for an interesting landscape. While the RBA and the PBC didn’t make a move, the Fed, the BoE and the BOC have started to make small moves towards higher rates. Investors aren’t responding in unison, nor have they all had the same approach. The October sell-off of the Dow Jones was viewed by some as an inevitable adjustment to overvaluation, but the effects were felt globally. US politics once again had an impact on confidence across global markets. A looming trade war between the US and China made everyone nervous, and the midterms proved that people are becoming increasingly wary of Trump’s government.

Brexit is scheduled for March 29 next year and although Theresa May has been working towards a smooth transition, negotiations have been rocky. While we’ve all had time to adjust to Brexit and the 21-month transition period will offer further time, it’s certainly going to impact global banks working across Europe.

Closer to home, the Australian banking royal commission has dominated news stories and discussions on financial services for months. While we won’t know the final decisions and changes to be implemented until well into next year, there have been some hints. Changes to commission structures, and boutique, less regulated firms are sure to be centre stage. Undoubtedly many businesses in the industry will feel the ramifications and it’s certain to be an interesting time.

We’re definitely in for an exciting 2019 and we wish all our clients and candidates a fantastic holiday season and great new year. We look forward to continuing to build relationships across Sydney, Melbourne, Singapore and Hong Kong in 2019. As always, please reach out to our team if we can help in any way.

The race that stops a nation has quickly come around again! In its 157th year, one of the richest turf races in the world is set to kick off next Tuesday. Whether you’re at Flemington or Randwick or watching from a pub or restaurant from any of our four locations, there’s guaranteed to be plenty of action. Restaurants all over Sydney and Melbourne are putting on their best lunches, everyone will don their spring florals and you can be sure there will be plenty of revelry on the day.

Superstar mare Winx won’t be racing but there are plenty of other names on the field to keep an eye on. Yucatan Ire is the horse to nab in the office sweeps – he’s the favourite of punters. Magic Circle and Cross Counter aren’t far behind so you have plenty of options if you are chasing a trifecta. Sam Smith will be performing at Flemington before the start of the race and plenty of other venues will have DJs and live music for the day. Fashion stakes are high both in the office and at the races, so get your fascinators out for what is sure to be another year of fun!