Retail Banking News Updates, June 6th 2012

Stanchart Private Bank Singapore launches Islamic financial solutions
Standard Chartered Private Bank Monday has launched a comprehensive suite of Islamic financial solutions for its clients. The solutions range from fiduciary deposits, property financing, equities and discretionary services, mutual funds (including Exchange-Traded Funds), Islamic bonds (Sukuks), to third-party structured products.

UBS names Friedman as global CIO for wealth management units
UBS has appointed Alexander Friedman to serve as the global chief investment officer for both of its wealth management units. Friedman, who has been the chief investment officer for the business excluding Americas, will be responsible for combined investment and research across all regions. He will report to Juerg Zeltner and Robert McCann, heads of the wealth management units.

ComBank links ATMs to China UnionPay
Commercial Bank of Ceylon (ComBank) and China UnionPay have entered into a partnership that will enable UnionPay credit and debit cardholders to withdraw money from more than 500 ATM terminals in Sri Lanka. Commercial Bank of Ceylon has linked its network of ATMs with UnionPay, enabling Sri Lanka to offer wider acceptance of UnionPay cards.

Re-disseminated by The Asian Banker