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Private Banking In Asia: Going Beyond Trust And Confidence, Knowledge@Smu
Private Banking In Asia: Going Beyond Trust And Confidence, Knowledge@Smu
Knowledge@SMU
Asia's private banking industry is expected to expand in the near future, and all signs point to greater competition amongst existing markets and wealth management entities. The nature of the financial service, however, remains rather interpersonal. Private bankers work almost exclusively with sophisticated, high net worth individuals. Long term survival, for them, means sticking with high value clients over the long haul, over and above sticking it out with the institutes that back those financial services. What might this spell for the market? SMU's Ang Ser-Keng asked industry experts through a series of interviews.
Wait Not For Another Crisis: Weighing In On The Fair Value Accounting Debate, Knowledge@Smu
Wait Not For Another Crisis: Weighing In On The Fair Value Accounting Debate, Knowledge@Smu
Knowledge@SMU
The use of fair value accounting – simply defined as the booking of numbers based on current market value – has been named as a catalyst in worsening the recent financial crisis. Emerging from the rubble, accounting regulators, like the IASB and FASB, together with industry players, are now trying to work out rules and standards. However, the question of to “fair” or not to “fair” is the subject of a hot debate. Columbia University’s Stephen Penman weighs in at a recent SMU lecture.
Private Equity: The Players, The Jargons, And What Lies Ahead, Knowledge@Smu
Private Equity: The Players, The Jargons, And What Lies Ahead, Knowledge@Smu
Knowledge@SMU
What do private equity and venture capital fund managers do? The short answer to that question will hardly do justice to the profession. Yet, it is not easy to provide an accurate explanation without first condensing the nuts and bolts that form the mechanics of the industry. Dan Schwartz, editor of the Asian Venture Capital Journal, does just that, albeit in the form of the 236-page The Future of Finance: How Private Equity and Venture Capital Will Shape the Global Economy – a book that has prominent industry leaders speaking to the layman.
Before The Fields Run Dry: How To Avoid The 'Dutch Disease', Knowledge@Smu
Before The Fields Run Dry: How To Avoid The 'Dutch Disease', Knowledge@Smu
Knowledge@SMU
For any economy, the discovery of abundant natural resources is almost akin to striking nature's lottery. But as any eager financial planner might say to a lottery winner, no windfall can last for long without a solid financial plan. Singapore, a country admired for its relatively substantial national reserves, is home to almost no natural resources (except for human capital, we're told). This lack of natural resources, however, may well be the reason behind the country's economic success. According to Svein Gjedrem, governor of Norges Bank, natural resource-rich countries often suffer from a 'disease' that causes them to rely too …
Secrets And Lies: How One Man Charmed His Way Into The Hearts, Minds And Wallets Of New York's Rich And Powerful, Knowledge@Smu
Secrets And Lies: How One Man Charmed His Way Into The Hearts, Minds And Wallets Of New York's Rich And Powerful, Knowledge@Smu
Knowledge@SMU
Bernie Madoff’s reputation as the largest ponzi scheme operator will probably outlast the 150-year jail sentence he is now serving. For decades, the man created an aura around himself that spoke to the romantic ambitions of Wall Street's sycophants: unyielding success, exclusivity and power. Moreover, Madoff conjured a mystique so intriguing he had investors practically begging to surrender their money. But not everyone was blinded. Harry Markopolos, a financial consultant turned famous whistleblower, was convinced that the magician hath no magical abilities. For close to ten years, he nudged US regulators to no avail. His journey is detailed in the …
Hot Seats And Seat Warmers: The Hunt For Directors Of Quality, Knowledge@Smu
Hot Seats And Seat Warmers: The Hunt For Directors Of Quality, Knowledge@Smu
Knowledge@SMU
Is it humanly possible for a person to hold more than five directorships? Why are there so few female directors in Singapore? Are we short of qualified directors? How can regulations help maintain standards? These were some of the questions that confronted a panel of seasoned directors speaking at the graduation ceremony of a certification programme for directors; issues that have seen heated debates in Singapore of late. This follows recent reports that an unusually high percentage of directors sit on many different boards, leading to questions of their ability to fully discharge their responsibilities as directors.
Watch The Vote: Avoiding Undesirable Zero-Sum Outcomes, Knowledge@Smu
Watch The Vote: Avoiding Undesirable Zero-Sum Outcomes, Knowledge@Smu
Knowledge@SMU
Luxury watches often invoke a lot of debate amongst its aficionados. After the great lengths to which people go to, to collect, study, appraise and critique these mobile mechanical clocks, it is no surprise that they feel very strongly about their picks. Decisions made by prestigious bodies, such as the Grand Prix d’Horlogerie, are hence quite delicate. People's money, ego, and pride are at stake. So picking the winner that will keep the majority satisfied is crucial, yet quite difficult to do. Drawing comparisons to political election outcomes, SMU Economics professor Massimiliano Landi explores a new voting system to address …
Rewriting The World Order: China's Footprint On The Credit Crisis And International Affairs, Knowledge@Smu
Rewriting The World Order: China's Footprint On The Credit Crisis And International Affairs, Knowledge@Smu
Knowledge@SMU
Tired of reading conventional theories to what caused the recent financial crisis? How about a theory that places the blame on China, for a change? Giles Chance, author of “China and the Credit Crisis”, dances between the fine lines as he gives a fresh spin on the crisis, blind Western policymakers, a global currency and the world order that is to come as the "China effect" dominates familiar Western models of capitalism, politics and diplomacy.
An Economist's Take On The Opportunities And Threats That Lie Ahead For Asia, Knowledge@Smu
An Economist's Take On The Opportunities And Threats That Lie Ahead For Asia, Knowledge@Smu
Knowledge@SMU
Say you have the ability to foresee the ups and downs of the economy; what would you do with that power? Stephen Roach's answer: Become a celebrated economist, columnist and author! His latest book, The Next Asia, is a 2006 to 2009 greatest hits collection of essays on what, he believes, are the region's shortfalls and opportunities. There is plenty to chew upon – from what Roach believes are the factors that led to the recent financial crisis to the various issues that will plague the continent's rapidly developing economies.