offshore banking

Maximising returns with offshore investments

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The liberalisation of foreign exchange and de-pegging of the ringgit for offshore investments has widened investment options for local investors with an appetite for overseas investments, said Alan Inn, head of investment and product development of CIMB Private Banking. “Having offshore investment is an effective way to diversify and enhance your portfolio’s return because investors … Read more

China’s biggest bank sells stake

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China’s biggest lender, Industrial and Commercial Bank of China (ICBC), is selling a 10% stake to Goldman Sachs, Allianz and American Express. The deal, said to be worth more than $3bn (£1.7bn), is just the latest example of Western financial houses investing in Chinese banks. Bank of America and Royal Bank of Scotland are two … Read more

Red China’s Wrong Moves

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COLORADO SPRINGS, COLO. – While serving on the executive board of the Asian Development Bank under the first President George Bush, I consistently called for China to “bite the bullet” and privatize its state-owned companies as soon as possible. Representatives from European and other Asian countries would just shake their heads and mutter about impatient … Read more

Is Macquarie the world’s best-performed investment bank?

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The remarkable aspect of the Macquarie model for investment banking is not the amount of wealth it generates for its executives, although that is remarkable, but how its development has turned the bank into probably the world’s best-performed and fastest-growing investment bank. The catalyst for transforming Macquarie from an Australian investment bank with limited offshore … Read more

Mexico’s Bancomer Launches Bank For Wealthy Clients

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MEXICO CITY – Mexican bank leader Grupo Financiero BBVA-Bancomer SA said it has launched a private bank Wednesday to provide comprehensive services for wealthy clients. “People don’t have to think about offshore institutions to get answers to their financial needs,” said Jaime Alvarez, who heads the private bank, in a release. The new bank will … Read more

Offshore accounts: No longer an easy option

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I’ve spent a lot of time in Switzerland over the years, including two semesters of college. But not much in recent times, when most of my travel and living has been in less developed countries. I did, however, log a few days in Zurich before Christmas to renew some old acquaintances. Some readers may remember … Read more

UBS seeks to invest more in China

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UBS has sufficient demand from clients to warrant further increases in the amount it is investing in China’s domestic stock and bond markets, Leon Brittan, vice-chairman of UBS Investment Bank, said yesterday. Such additional investment by the Swiss-based bank was mainly being held back by regulatory issues. “There is no shortage of demand [from clients],” … Read more

To place, or not to place money offshore?

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Q&A between Lindsay Williams and Peter Rigby about Money Offshore; December 2004 the rand trades at 5.60 to the US dollar – the first weeks of January 2005 the rand weakens to 6.14, strengthens temporarily, and slides once more – should investors be looking offshore? Alexander Forbes Financial Planning Consultants senior advisor Peter Rigby LINDSAY … Read more