Taiwan’s financial firms posted record first-quarter pretax profits as a rally in local equities lifted investment returns, wealth management income and brokerage activity, the Financial Supervisory Commission said. The Taiwan financial firms result showed combined pretax profit across banking, insurance and securities rising 37.09% from a year earlier to NTD370.997bn (USD11.81bn), beating the previous first-quarter record set in 2021. Banking pretax profit climbed 28.5% to N

Bank of Korea Governor Shin Hyun-song has been elected to the Bank for International Settlements’ 18-member board, Seoul’s central bank said. The South Korea BIS board appointment gives Shin a three-year term and allows South Korea to maintain a seat on the BIS board since 2019. The board sets the policy direction of the Switzerland-based institution, which comprises 63 central banks, and supervises its management. South Korea joined the BIS in 1997. The BOK said Shin’s elect

PitchBook expects global private markets to expand more slowly over the next five years, forecasting assets to grow at a 5.7% compound annual rate from USD20.3tr in 2024 to USD26.7tr by 2030. The private markets growth outlook reflects higher interest rates and weaker distributions reshaping the industry. Secondaries are projected to more than double from USD700bn in 2025 to USD1.5tr in 2030, while funds of funds may shrink to USD600bn from about USD900bn. PitchBook said the

Singapore’s national accountancy body has formed a task force with finance and business leaders to strengthen Singapore financial reporting standards and improve how listed companies communicate long-term value to investors. The Strengthening Financial Reporting Taskforce, launched by the Institute of Singapore Chartered Accountants in partnership with the Singapore Exchange, will examine ways to improve disclosures on financial performance, governance, risks and strategy. Ta

Investors are turning to Asian equities for the next leg of the global stock rally, with Taiwan and South Korea emerging as key targets because of their exposure to artificial intelligence hardware, Bloomberg reported. The Asian equities rally has lifted shares in both markets, helped by gains in Samsung Electronics, SK Hynix and Taiwan Semiconductor Manufacturing Co. Derivatives strategists are recommending bullish trades on Taiwan’s TAIEX, South Korea’s KOSPI 200 and Japan’

The Hong Kong Monetary Authority has reassigned five executive director roles in a lateral reshuffle aimed at grooming its next generation of leaders, Bloomberg and local media reported. The HKMA leadership reshuffle will see Kenneth Hui, currently executive director for external affairs, move to banking conduct, while Archie Ng, executive director for corporate services, will take over monetary management. Alan Au, now executive director for banking conduct, will become exec

DealStreetAsia said 150 firms have been confirmed to attend its Asia Private Equity Leadership Summit in Hong Kong on May 20, underlining Hong Kong’s role in Asian private capital and family office dealmaking. The summit will bring together senior executives from limited partners, general partners, private credit and secondaries investors, family offices and other industry participants. Confirmed firms include KKR, Bain Capital, Ardian, HarbourVest, Partners Group, StepStone

Bank Negara Malaysia and Bank Indonesia have signed a memorandum of understanding to deepen cooperation across central banking functions. The BNM BI cooperation agreement covers monetary policy, financial stability, macroprudential policy, payment systems, digitalisation, financial sector development, capacity building and information sharing. BNM Governor Abdul Rasheed Ghaffour said the MoU reaffirms the long-standing partnership between the two central banks and expands coo

Invest Hong Kong will increase engagement with Africa as Associate Director-General Loretta Lee begins an eight-day visit to Johannesburg and Kigali to promote the city as a gateway for African companies expanding into mainland China and Asia-Pacific markets. The InvestHK Africa ties push includes meetings with chambers, banks, financial institutions, fintech firms and professional services groups in Johannesburg from May 10 to 13, before Lee attends the Africa CEO Forum in R

Saudi Arabia’s Public Investment Fund has launched a second mainland China office in Shanghai as the sovereign wealth fund deepens ties with the world’s second-largest economy. The Saudi PIF China expansion strengthens the fund’s outbound investment capabilities and supports efforts to attract Chinese companies into Saudi Arabia. The USD1tr sovereign wealth fund’s Shanghai office, opened earlier in 2026, operates under its Beijing outpost led by Lily Cong. The move highlights

Global regulators have warned that private credit risks are increasing as links deepen between private credit firms, banks, insurers, asset managers and private equity groups. The Financial Stability Board said the market was valued at between USD1.5tr and USD2tr in 2024. The watchdog highlighted rising defaults, limited transparency, liquidity mismatches and the retailisation of private credit as key concerns. While direct bank exposure remains limited at below 0.5% of total

Thai lenders are accelerating their Thai wealth management expansion as sluggish loan growth and lower interest rates pressure profitability. Analysts at CGS International said wealth management is expected to become the main driver of non-interest income growth between 2026 and 2028. Thailand’s four largest banks generated between 13% and 19% of non-interest income from wealth management in 2025, significantly below Singapore’s DBS at 57.5%. Bank of Thailand data showed ther

UBS has announced a series of senior appointments within its Southeast Asia wealth management division as the Swiss bank strengthens advisory capabilities in Singapore and the wider region. The UBS Southeast Asia reshuffle includes Vivian Li moving into a senior client adviser role within global family and institutional wealth for Singapore. Shane Huang will become advisory and sales head of premium advisory specialists for Southeast Asia from May 18, while Cheng Chi Li takes

Janus Henderson Group has partnered with Hong Kong’s Sun Hung Kai & Co. to expand alternative investment offerings across Asia Pacific amid rising demand from family offices, ultra-high-net-worth investors and institutions. The family office investments partnership will involve SHKCP, SHK & Co.’s alternative solutions arm, and focus on product co-development, strategic seeding and direct investment opportunities across public and private markets globally. SHKCP also provides

Malaysia’s Armed Forces Fund Board, or LTAT, is preparing its first move into private credit as it seeks defensive investments with high-single-digit returns. LTAT managed more than MYR13bn (USD3.29bn) at the end of 2025. Chief investment officer Ahmad Farouk said the Malaysia private credit strategy remains at the governance and manager-selection stage, with the pension fund prioritising capital preservation. Farouk said institutional investors should support SMEs that strug

Singapore has retained the Financial Action Task Force’s highest monitoring rating despite the SGD3bn (USD2.2bn) money laundering scandal uncovered in 2023. The Singapore FATF rating review covered the period from 2020 to July 2025 and placed the city-state on regular follow-up, the watchdog’s most favourable category. FATF said Singapore achieved seven substantially effective ratings across 11 measures and was compliant or largely compliant on 38 of 40 technical recommendati

Hong Kong SME credit conditions remained broadly stable during the first quarter of 2026, according to the Hong Kong Monetary Authority. Around 73% of SMEs said banks’ credit approval stance was similar or easier than six months earlier, compared with 70% in the previous quarter. Only 27% perceived approvals as more difficult, down from 30%. Among SMEs with existing credit lines, none reported a tighter bank stance. Of firms applying for new credit, 91% reported fully or part

Asia wealth consolidation is accelerating as Ascend Asia Financial Services Group acquires three Singapore advisory firms—Infinity Financial Advisory, SG Alliance and PromiseLand Financial Advisory. The deals, executed through Ascend Asia Singapore Advisory, have received approval from the Monetary Authority of Singapore, though financial terms were not disclosed. The acquisitions remain subject to regulatory and transaction conditions. Following completion, Ascend Asia will

Southeast Asia wealth expansion is gathering pace as OCBC’s Indonesian unit agrees to acquire HSBC Indonesia’s wealth and premier banking portfolio. The transaction will transfer 336,000 customers, SGD6.6bn (USD4.88bn) in assets under management and around 1,300 staff to PT Bank OCBC NISP. The portfolio includes SGD4.3bn(USD3.18bn) in investments, SGD2.3bn(USD1.70bn) in deposits and SGD0.3bn(USD0.22bn) in retail loans, based on unaudited end-2025 figures. OCBC said the deal w

Thailand private trust reforms are being proposed to attract up to THB1tr (USD27bn) in global wealth within two years. The Association of Investment Management Companies said the framework is designed to position Thailand as a regional asset management hub, drawing inspiration from Singapore’s model while adapting it locally. Private trusts are widely used by high-net-worth individuals, family offices and institutions for cross-border investment, succession planning and asset