BPI Wealth, the asset and wealth management arm of the Bank of the Philippine Islands (BPI), has passed the halfway mark to reach its ₱3 trillion asset under management (AUM) target by 2026. In an interview during the launch of the bank’s Wealth Wellness Month, BPI Wealth President and CEO...
While the previous administration warned that imposing a “wealth tax” on the rich could trigger capital flight and tax avoidance, Finance Secretary Ralph G. Recto—the chief economic manager of the Marcos Jr. administration—said he would support Congress if it proposes such a measure. “Let...
Vice President Sara Duterte said that she will answer questions about her bank accounts before the proper forum—the impeachment trial—adding that she has “no obligation” to respond to those illegally seeking information about them. Speaking to supporters and media in The Hague, on Tuesday,...
HSBC Wealth Philippines aims to increase its share of the high-net-worth market, anticipating a doubling of affluent clients over the next five years, despite economic uncertainties. “We are looking to grow our market share,” said Pramoth Rajendran, head of international wealth and premier...
Maharlika Investment Corporation (MIC), which manages the Philippines’ sovereign wealth fund, is set to provide a bridge loan facility worth $76.4 million to Makilala Mining Co. Inc. (MMCI), the Philippine affiliate of Australia-based Celsius Resources Ltd. In a disclosure to the Australian...
Amid favorable conditions for long-term investments, the wealth-management arm of Ayala-led Bank of the Philippine Islands (BPI) will roll out before this year ends a new mutual fund eyeing young and tech-savvy investors. BPI Wealth personal wealth head Irene Ang told a press briefing on Friday,...
As interest rates drop and investors take a closer look at "risky" long-term assets, the wealth management arm of Ayala-led Bank of the Philippine Islands (BPI) anticipates more client investments to achieve 20-percent assets under management (AUM) growth for 2024. BPI Wealth president and chief...
The Sandiganbayan did not allow former Armed Forces of the Philippines (AFP) comptroller and retired Maj. Gen. Carlos F. Garcia to evade the payment of P407.8 million penalty after he pleaded guilty and convicted of lesser offenses instead of plunder and violation of the Money Laundering Act....
The Sandiganbayan has dismissed the complaint filed against two defendants in an ill-gotten wealth case involving the reportedly illegal shares obtained by a private company through alleged disadvantageous contracts. Dismissed through the grant of their demurrer to evidence were the charges against...
The Sandiganbayan has warned that sanctions will be imposed on litigants and lawyers who file repetitive or identical motions in pending cases. The warning was issued as the court denied a similar motion filed by a private individual in the hope that his property be excluded from the...
Johann Garcia, CEO of Era Philippines; Wealth Gillego, Chairman of Era Philippines; Marcus Chu, CEO of APAC Realty and Era Asia Pacific; and Poh Chee Yong, CFO of ERA Asia Pacific APAC Realty, a real estate services provider in Singapore operating under the Era brand, signed a partnership alliance...
The Sandiganbayan has approved the payment of P2.5 million to settle the P9.06 million civil case for forfeiture of alleged unexplained wealth filed against the former director of the Philippine National Police (PNP) in Benguet and members of his family. Former PNP Chief Supt. Eugene Garbriel...
