More than half of Americans living in East Asia report that they encounter problems “accessing normal banking services” as a consequence of the controversial Foreign Account Tax Compliance Act (FATCA) of the U.S. Treasury, according to a poll via independent advisory group deVere Group. The deVere Group polled more than 2,500 Americans living in the… Read More >>
China Renaissance Deploys Fidessa Trading Systems
Firm Says Platform Will Help Its Outreach to Investors China Renaissance, an investment banking, securities and investment management firm with headquarters in Beijing and Shanghai, has deployed an Asian trading platform from vendor Fidessa. The new IT backbone will support the expansion of the firm’s equities business across Asia via a centralized order management… Read More >>
Major Banks to Mentor FinTech Startups in Asia
FinTech Innovation Lab to Help Eight Entrepreneurs Eight financial technology vendors with a range of new offerings including a know your customer (KYC) combination with distributed ledger technology, have been accepted into a 12-week mentorship program in the third annual FinTech Innovation Lab Asia-Pacific, officials say. Other startups participating in the lab are working on… Read More >>
Barclays to Lay Off 1,000 in Investment Banking
Barclays will be shrinking its investment banking staff in Asia and elsewhere by 1,000 or so as a result of the bank’s decision to exit markets that are proving to be a challenge for global financial services firms. Overall, the investment bank of Barclays “will continue to focus on its two home markets in the… Read More >>
Maybank Kim Eng Unifies Asian Trading via New Platform
The investment banking and equities trading units of Maybank Kim Eng have gone live with a new order management and execution platform intended to help the firm unify its regional trading support and bolster global growth, according to bank officials. Maybank Kim Eng is using trading technology from vendor Fidessa, and went live in November… Read More >>
