Banks

The Monetary Authority of Singapore wants the credits to help with the retirement of coal plants, which account for 60% of energy supply in the region, and replace them with cleaner sources.

The German bank is targeting clients, including fund managers, who want Shariah custody as regional demand grows and cross-border Asean capital flows increase.

Hong Kong-based Kahloon will work alongside Corrinne Teo, and will be responsible for driving innovation and growth of Nomura’s solutions business.

Taipei-based Amanda Chen has been tasked with deepening regulatory ties in addition to overseeing products and operations.

The move is part of a deal for Citi to sell consumer banking businesses in Malaysia, Thailand, Vietnam and Indonesia to UOB as it retreats from 14 markets in the space. Meanwhile, a major reorganisation at the bank has begun, including Asia leadership changes.

Wang, who joins from Citibank, will lead MUFG China’s non-Japanese client coverage teams for its corporate banking portfolio, comprising local and global corporates, Chinese SOEs and financial institutional clients.

Experts share insights around the value potential of a digital currency, following the HKMA’s publication of an initial report on the pilot.

Off-balance sheet income is driving global banks’ Q3 earnings, a McKinsey report has found, but to sustain growth momentum, Asia’s institutions will need to overhaul inefficiencies.

At the start of this week, Citi and HSBC formalised an agreement that is set to close in the first half of 2024.