News by tag: Singapore

04.04.2017

Fast-ageing society demands fresh thinking on pensions

Sustainable future means helping citizens achieve the best income in retirement on a sustainable basis.

 
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13.03.2017

1MDB scandal: former Goldman Sachs banker banned by Singapore

Singapore banned former Goldman Sachs Group Inc. banker Tim Leissner from the securities industry for 10 years and said it plans to issue similar orders against three others caught up in the scandal surrounding 1Malaysia Development Bhd. Leissner, who left Goldman Sachs in February 2016, was sanctioned because he issued an unauthorized letter to a financial institution and made false statements on behalf of the U.S. bank without its knowledge, the Monetary Authority of Singapore said in a statement Monday. The central bank had signaled its intention to ban Leissner last year.

 
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07.02.2017

Singapore: Private jet seized over 1MDB scandal

Singapore has reportedly seized a $35 million private jet belonging to 1MDB mastermind Low Taek Jho, also known as Jho Low, who is under investigation for his involvement in the scandal-hit Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB)  The Bombardier Global 5000 jet is part of some $1 billion in assets allegedly acquired with funds siphoned from 1MDB fund that the US government is moving to seize. The police declined to comment on whether the authorities had grounded the plane, stating that investigations are still in progress. The US alleges that the funds were laundered through the US banking system and is seeking to confiscate Low’s private jet, as well as other properties including a $100-million interest in EMI Music Publishing Group, and a $380-million stake in the Park Lane Hotel in New York.

 
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16.01.2017

Switzerland is the best attractive country for talent

Switzerland placed first overall in international university Insead’s 2017 Global Talent Competitive Index (GTCI); the annual study, released by international graduate university Insead on Monday, measures a nation's competitiveness based on the quality of talent that it can produce, attract and retain.  This year's report explores the effects of technological change on talent competitiveness, arguing that while jobs at all levels continue to be replaced by machines, technology is also creating new opportunities.

 
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11.01.2017

Falcon former banker jailed over 1MDB scandal

A Swiss banker was jailed for seven months in Singapore on Wednesday for money laundering and other offences related to a corruption scandal involving neighbouring Malaysia’s state fund 1Malaysia Development Bhd (1MDB). Jens Fred Sturzenegger, 42, who headed the Singapore branch of Swiss lender Falcon Private Bank, was also fined $89,000 after he pleaded guilty at a district court. The Swiss national is the first foreigner to be charged in the 1MDB-linked probe by Singapore authorities. The bank, which is also under investigation at home, was the second Swiss lender whose Singapore unit was ordered to cease operations last year after BSI Bank Ltd.

 
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05.01.2017

Former banker Falcon charged over 1MDB scandal in Singapore

Swiss national Jens Fred Sturzenegger has been charged in relation to the Singapore probe of the 1 Malaysia Development Berhad (1MDB) scandal, becoming the fifth person to be prosecuted here. The Monetary Authority of Singapore (MAS) shut down Falcon Private Bank last October and Sturzenegger was arrested by the Commercial Affairs Department on Oct 5 last year.

 
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22.12.2016

Ex-BSI banker jailed for 30 months over 1MDB investigation

Former BSI banker Yeo Jiawei was found guilty for his role in the most complex, sophisticated and largest money-laundering case involving billions of dollars alleged to have been misappropriated from 1Malaysia Development Berhad (1MDB). Singapore sentenced former Yeo Jiawei to 30 months in jail after a 12-day trial. He is the third BSI banker convicted in the city state this year. The prosecutors had charged that Yeo had amassed $16.55 million by taking secret profits from 1MDB-linked transactions during his work for the Singapore unit of BSI.

 
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24.11.2016

Former BSI banker suddenly earned a Big Fortune after leaving the bank in Singapore

Prosecutors said on Tuesday former BSI banker Yeo Jiawei earned S$23.9 (US$ 16.7) million , in 15 months as an “independent consultant”, through “illicit means”, including secret deals with people linked to the multi-jurisdictional probe into scandal-hit Malaysian state fund 1MDB. In court on Tuesday, Yeo revealed that his net worth was around S$2 (US$ 1.39) million  when he left BSI bank in Singapore. This was from his basic salary and bonuses earned while he was an employee there. In his cross examination on Tuesday, Deputy Public Prosecutor Tan Kiat Pheng said it was “quite unbelievable” that Yeo could amass so much by acting as a mere “introducer, intermediary, independent consultant or relationship manager”.

 
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16.11.2016

Bitcoin: Singapore launched blockchain project

Singapore's central bank is working with major lenders in Japan, the U.S. and Europe to begin testing a blockchain-based transaction system by the end of year. Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS) said the initiative is supported by the R3 blockchain research lab and BCS Information Systems.

 
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15.11.2016

BSI: EFG completed the takeover in Singapore

EFG International has completed the integration of BSI in Singapore, included client relationships and employees, as it referred in a statement today. EFG International announced its intention to acquire Swiss-based BSI before the scandal surrounding 1MDB caught the public's eye.

 
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Events


Semptember 2015
  • 02
    May

    Startups need to build a growth plan and exit path early in their life cycle to unlock the value cre

  • 03
    May

    Molti investitori istituzionali stanno iniziando a prendere sempre più in considerazione anche le m

  • 03
    May

    The Responsible Finance Institute (RFI) Foundation and the Swiss Arab Network organize the RFI Summi

  • 04
    May

    FinLantern is glad to invite you to a “Sustainable Apero”

  • 04
    May

    Presentazione di una piattaforma omnicanale per aziende con centralini, call center o contact center

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