The U.K. government’s decision to raise the top rate of income tax will leave residents earning more than 1 million pounds ($1.6 million) a year worse off than they would be in any of the world’s other major financial centers.
“People feel let down,” Nick Bacon, a London-based financial services tax partner at accounting firm KPMG, [...]
HONG KONG — Marco Wong lost his job with Citigroup in Singapore in mid-January. During all the turmoil that engulfed the financial world last year, the cutbacks at the U.S. banking giant were neither unique nor surprising.
Still, Mr. Wong says, Citigroup’s decision not to renew his contract shortly before it was due to end [...]
From FINalternatives, news of the build up of hedge fund platforms in Singapore and in Hong Kong.
As the Asian hedge fund industry rises from the ashes of last year’s huge losses and huge redemptions, a number of Korean financial services firms are hoping to play middleman in the resurgent space.
Kookmin Bank, Industrial Bank of Korea, [...]
Some good news on Asian Hedge Funds with new recruitment noted in Singapore and Hong Kong.
Tribridge Investment Partners Ltd., a Hong Kong-based hedge fund manager, said Monday it will launch a new fund in August and hired John Liptak, former head of Bank of America Corp’s Asia special situations group, to run it.
The new fund will have a pan-Asia focus and seek to identify mispriced or undervalued securities due to financial [...]
From Asian Investor comes the news that in October, China’s National People’s Congress will review a substantial reform of the fund laws proposed by the China Securities Regulatory Commission (CSRC).
Less than six months after taking charge of the fund supervisory division at the CSRC, the new director-general Wu Qing is already making his presence felt [...]
I know, it sounds like a tabloid headline but basicaly not too far from the truth
Mayor warns EU not to strangle world’s premier financial centre
The Mayor of London, Boris Johnson, today called on the Government to help him resist the EU Commission’s dangerous plans to regulate financial services. He fears that the plans [...]
HONG KONG — Securities regulators here scored another criminal conviction for insider trading after an ex-banker at CLSA Equity Capital Markets Ltd. and a former hedge fund manager both pleaded guilty to charges of insider dealing Tuesday.
The two were remanded in jail custody and await sentencing on July 13.
This case is the Hong Kong Securities [...]
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