Cathay United Bank (CUB, 國泰世華銀行) kick-started the new year with good news from its private banking business. CUB Private Banking has been named “Best Domestic Private Bank (Taiwan)” by Asian Private Banker for the fifth year in a row, the only financial institution in Taiwan to achieve this great feat.
Moreover, the bank also received the green light from the Financial Supervisory Commission to continue rolling out the Wealth Management 2.0 service targeting high-net-worth individuals (HNWIs). These achievements indicate that both the government and the public recognize CUB’s effort to provide comprehensive services to uncover the needs of HNWIs.
CUB Private Banking adopts a “portfolio-based approach” to manage clients’ assets. Last year, the private bank was the first in Taiwan to launch non-securities investment trust offshore funds (non-SIT offshore funds), leading Taiwan’s private banking sector to keep up with the global financial market and giving clients more options for making investments.
Photo courtesy of Cathay United Bank
CUB Private Banking chief executive officer Robert Fuh (傅伯昇) pointed out that, in addition to customized portfolio advisory services, comprehensive investment vehicles are also a must for agile asset allocation because HNWIs who are seeking to grow their wealth in a stable way have clear investment goals.
To this end, in 2019, CUB Private Banking formed an alternatives advisory team by recruiting professionals who have more than 10 years of experience in the financial sector and are familiar with global capital market investments.
Then last year, the private bank took its services to the next level by introducing non-SIT offshore funds, the first trust-based investment vehicle in Taiwan. In the same year, CUB Private Banking established a portfolio advisory team to formulate bespoke portfolio strategies for HNWIs, and provide timely and holistic advisory services to meet their ever-increasing needs.
Fuh underscored that CUB Private Banking is getting the lion’s share in the private banking market as it recorded double-digit growth in assets under management over the past decade. The private bank would not be where it is today without its persistent dedication to advancing portfolio advisory services and the strong lineup of investment and advisory professionals.
In addition to the Taiwan market, CUB Private Banking has expanded its services to Hong Kong and Singapore and, for the years to come, will relentlessly upgrade its private banking services to develop more high-quality, sophisticated financial offerings for clients in these markets.
Taichung reported the steepest fall in completed home prices among the six special municipalities in the first quarter of this year, data compiled by Taiwan Realty Co (台灣房屋) showed yesterday. From January through last month, the average transaction price for completed homes in Taichung fell 8 percent from a year earlier to NT$299,000 (US$9,483) per ping (3.3m²), said Taiwan Realty, which compiled the data based on the government’s price registration platform. The decline could be attributed to many home buyers choosing relatively affordable used homes to live in themselves, instead of newly built homes in the city’s prime property market, Taiwan Realty
The government yesterday approved applications by Alphabet Inc’s Google to invest NT$27.08 billion (US$859.98 million) in Taiwan, the Ministry of Economic Affairs said in a statement. The Department of Investment Review approved two investments proposed by Google, with much of the funds to be used for data processing and electronic information supply services, as well as inventory procurement businesses in the semiconductor field, the ministry said. It marks the second consecutive year that Google has applied to increase its investment in Taiwan. Google plans to infuse NT$25.34 billion into Charter Investments Ltd (特許投資顧問) through its Singapore-based subsidiary Fructan Holdings Singapore Pte Ltd, and
JET JUICE: The war on Iran’s secondary effects have seen fuel prices skyrocket, knocking flight schedules down to earth in return as airlines struggle with costs Airline passengers should brace for more irritation in the next few months as carriers worldwide cancel flights and ground planes to cope with stratospheric increases in jet-fuel prices. Dutch flag carrier KLM is the latest company to cut its schedule, saying on Thursday that it would scrap 80 return flights at Amsterdam’s Schiphol Airport in the coming month. That puts it in the same league as United Airlines Holdings Inc, Deutsche Lufthansa AG and Cathay Pacific Airways Ltd, which have all pruned itineraries to mitigate costs. Global capacity for next month has been reduced by about 3 percentage points, with all
The US said it plans to help build a first-of-its-kind industrial hub in the Philippines to boost production of inputs crucial to US supply chains. The 4,000-acre hub is intended to be “a purpose-built platform for allied manufacturing” and “an investment acceleration hub where the specific industrial activities are shaped by market demand,” the US Department of State said on Thursday. The project — touted as an “economic security zone” — would be within the Luzon Economic Corridor, a flagship economic project backed by the US and Japan on the main Philippine island. The project was also described as “the first artificial intelligence
RSS