SINGAPORE - Northern Trust has been granted a Wholesale Banking License from the Singaporean authorities, allowing the firm to expand its operations in the region.
The award was made by the Monetary Authority of Singapore (MAS) and allows the US firm to extend its existing privileges. Northern Trust currently operates under an Offshore Banking license in Singapore....
GLOBAL - PIMCO has hired five new investment staffers in London, New York and Singapore to round out its emerging markets equities team, with two joining from Goldman Sachs Asset Management (GSAM).
ASIA - Aviva Investors has appointed Kevin Talbot as chief investment officer (CIO) of fixed income and Manish Singhai CIO of equities in Asia.
TAIWAN - The Public Service Pension Fund (PSPF) has appointed Russell Investments as transition manager in what is thought to be the first mandate win of its kind in the country.
NORWAY/ASIA - Norway's sovereign wealth fund, the world's second largest, will increase investments in Asia, as the region leads the global economic recovery, said Norges Bank Governor Svein Gjedrem.
SINGAPORE - Singapore should consider asking companies to contribute more to employees' pensions as the nation's economy improves, said Lim Swee Say, secretary-general of the National Trades Union Congress.