FGA Trust’s Post

Will we see a non-Wee family member as CEO of UOB in the near future? It's definitely possible. But going by the bold moves by current CEO Wee Ee Cheong in recent years, such as the acquisition of Citi's retail franchise in South-east Asia, that may be some time yet. With the passing of his father, chairman emeritus Wee Cho Yaw, the bank could embark on even more ambitious ventures. As I say in this commentary, @straitstimes, https://lnkd.in/g2RufSif, watch this space.

Are you paying more for bank transactions? With the multitude of choices for banking these days, it may seem like a chance for a "free-for-all" to charge whatever these providers want to. But what is a "legitimate" charge and and "illegitimate" one. For e.g a provider we experienced is charging USD5 + 1% variable for Local to Local (SGD Singapore to SGD Singapore), while charging USD25 + 1% variable for Local (Singapore) to Overseas (SGD, USD etc). Is that too much? Considering that FAST is SGD 0.50 and Paynow is SGD 0 #familyoffice #holdco #virtualbusiness #getty

True story! Couple of weeks back, in the midst of a soft pitch on our payment API capabilities somewhere in ASEAN, a client asked me 'so why should I go with you vs the local banks in my market'? To be completely honest, it took me a couple of seconds to straighten out my mind for a good response. Why? My product mind immediately wanted to jump into technical jargon. Also, our organisational culture doesn't always prime us to shout about how great we are. So what did I say? I told the CEO that we have robust payment capabilities. Both the connectivity option via APIs as well as the underlying rails and capacity. We are after all live on Instant Payments in 15 markets in Asia. More importantly, the journey doesn't stop there, as we continue to invest and co-create taking feedback from key clients & partners such as his firm. Most importantly, we also spoke about the breadth of the relationship, from coverage, payments advisory & also a leading service proposition. Despite the promise of AI, world-class bankers and payments folk will continue to make all the difference. Finally, in a moment of serendipity, the mail from my dear friend Aiwee Her pretty much came in during this meeting. What was in this important mail from Aiwee? Nothing major. Just that we reclaimed the coveted Asia's Best Bank for Transaction Services 💪❤️ This is of course in addition to other brilliant awards such as World's Best Bank for Payments & Treasury, Best Bank in Asia, and multiple country awards too. If only she had sent the mail earlier, I would have just whipped out the laptop and showed another proof point to the client 😃 Bad jokes aside, we are really chuffed to win these Euromoney awards! These are not the only measure of success of course. But they validate that our focus on people, propositions, innovation and resilience are paying off. Huge thank you to our Asia clients for the trust in us, as well as to brilliant colleagues and partners showing curiosity, empathy and dedication everyday! Manoj Dugar Yvonne Yiu Lewis Lei Sun Harish Kumar Patrick ZHU Shirley Leong Uma Bohne-Gill Saif Ali Khan Winnie Ma Rohit Rozario #awards #people #propositions #standproud

Innovate Reconciliation Action Plan (RAP) - Formally Endorsed by Reconciliation Australia We are proud to introduce Modus Projects’ 'Innovate' Reconciliation Action Plan (RAP) as part of our ongoing commitment and vision towards achieving reconciliation and creating a future of diversity, and inclusivity, within our company and the broader community. Building upon the achievements and learnings of our first 'Reflect' RAP represents a significant milestone in our journey towards reconciliation. It embodies our dedication to gaining a deeper understanding and improving our approach to advanced reconciliation. We implemented strategies and initiatives to foster meaningful relationships with First Peoples, supporting Aboriginal and Torres Strait Islander businesses and promoting cultural awareness among our employees and stakeholders. Our Innovate RAP reflects our company’s strong belief in the power of innovation as a catalyst for positive transformation. Through this plan, we aim to embrace practices that will help our business strengthen our engagement and create sustainable opportunities for Aboriginal and Torres Strait Islander peoples. #reconciliationaustralia

Are you paying more for bank transactions? With the multitude of choices for banking these days, it may seem like a chance for a "free-for-all" to charge whatever these providers want to. But what is a "legitimate" charge and and "illegitimate" one. For e.g a provider we experienced is charging USD5 + 1% variable for Local to Local (SGD Singapore to SGD Singapore), while charging USD25 + 1% variable for Local (Singapore) to Overseas (SGD, USD etc). Is that too much? Considering that FAST is SGD 0.50 and Paynow is SGD 0 #familyoffice #holdco #virtualbusiness #getty

Are you paying more for bank transactions? With the multitude of choices for banking these days, it may seem like a chance for a "free-for-all" to charge whatever these providers want to. But what is a "legitimate" charge and and "illegitimate" one. For e.g a provider we experienced is charging USD5 + 1% variable for Local to Local (SGD Singapore to SGD Singapore), while charging USD25 + 1% variable for Local (Singapore) to Overseas (SGD, USD etc). Is that too much? Considering that FAST is SGD 0.50 and Paynow is SGD 0 #familyoffice #holdco #virtualbusiness #getty

DBS in Singapore will be run by its first female CEO, @Tan Su Shan. She shared her 4Cs in a media conference. They are Culture, Customers, Collaboration, and Continuity. Sunshine Seniors is a two-year-old community with 2,600 members. DBS was established in 1968 and has 12 million customers. We cannot compare it to DBS to any degree. However, we have been practicing her first 3Cs, but not the last C. Firstly, Culture. Sunshine Seniors is a decentralized community. Every member is a leader and supporter. We encourage our members to follow the direction – With K.E.N.T., we CAN -- built on the foundation of the 7 Sunshine Principles. (K=Knowledge. E=Experience. N=Network. T=Time.) We promote Contributive Aging, empowering members to use their T to leverage their KEN to pursue their passions into action impacting the community. Secondly, Customers. We do not have customers. We have members. Without customers or members, neither a bank nor a community can thrive. So far, our membership has been growing organically. We are not in a rush to become a unicorn business. Customer engagement, collaboration, contribution, and satisfaction dominate our agenda. We want our members to feel they own the community, not passively participate. That resonates with our decentralized culture, sustaining a bottom-up and not a top-down management style. Thirdly, Collaboration. Sunshine members plan and manage the programs. Seniors have knowledge, experience, network, and time. When we provide a platform, they will shine. This is what Sunshine Seniors is committed to. Fourthly, Continuity. We do not have a tradition yet. There is no place for continuity at the moment. Our fourth C is Contribution. Seniors are perceived to be receiving and utilizing resources without giving back. We do not work, therefore, no productivity. We do not pay tax, therefore, draining the financial resources. We are weak and sick, therefore, increasing burdens on the medical infrastructure. However, with K.E.N.T., we CAN contribute. Thank you @Tan Su Shan for stimulating me to write this article. We do not know each other. I stumbled on her video. I wish her all the best at her new job. Our Sunshine Achievements so far: * Alibaba-SUSS Entrepreneurial Program 2023 * Won the SUSS Geronpreneurial Award 2023 * Designed three SkillsFuture Courses for the Singapore NSA * Funded by IMDA and supported by NLB on Digital for Life Program for Seniors * Now planning the Sunshine Seniors Un-Conference for seniors in October 2024 SUSS – Singapore University of Social Sciences, IMDA – Infocomm Media Development Authority, Singapore Government, NLB – National Library Board, Singapore, NSA - National Silver Academy DBS assigns its first female CEO https://lnkd.in/gnrEZzFy Contributive Aging https://lnkd.in/gU8_9t2Y Seven Sunshine Principles https://lnkd.in/ggm5SMiS

Hong Kong's Rise as a Fast-Growing Family Office Hub Hong Kong continues to stand as a key financial hub in Asia, offering unique advantages for high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals, particularly as wealth grows across the vast economies of China and Greater China. As a gateway to Mainland China and the Greater Bay Area, Hong Kong’s financial infrastructure and supportive government policies make it a very attractive destination for family offices and wealth management services. In this context, Mercedes Ho, Chief Partnership Distribution & Marketing Officer at Chubb Life Hong Kong, and Heero Wong, Manager of HNW Business Development, led a workshop at the Hubbis HNW Insurance Solutions Forum in Singapore titled High Net Worth Business Opportunities in Hong Kong as Asia Family Office Hub. The session explored these issues and many more and how Chubb Life Hong Kong is ideally poised through its products, expertise, history and commitment to assist the wealth management community and their clients in navigating Hong Kong’s dynamic and evolving wealth management landscape. Read on here: https://lnkd.in/g3nxbfWm #WealthManagement #FamilyOffices #IndependentWealth #Insurance #WealthSolutions

In an interview with Economy Middle East, Damian Bunce, CEO of GTN Middle East, outlined the company’s 24-year journey. Operating exclusively on a B2B2C model within the trading and investing sectors, Bunce emphasized that GTN is a privately-owned firm with a global workforce of over 450 employees. The company is regulated in major financial hubs including Dubai, Singapore, the US, South Africa, and soon the UK. Bunce also highlighted GTN's significant partnership with Revolut, which resulted in a pioneering solution that, initially launched in Europe, offers nearly 30 million users the ability to invest in fractionalized bonds starting at just $100. This advancement enhances accessibility to bond investments. Reflecting on GTN’s recent entry into the US market as a FINRA-regulated broker-dealer, Bunce noted that this strategic development positions GTN to engage with large fintech firms and provide regulated services to international clients. Additionally, Bunce discussed the company's commitment to continuous product innovation, including the introduction of gold, silver, margin trading, CFDs, and Sharia-compliant products to address evolving market needs. For more insights, watch the full interview.