Banque Cantonale Vaudoise said it is closing its Asian subsidiaries, BCV Investment Asia (Singapore) and BCV Investment Asia (Hong Kong) in ...

Banque Cantonale Vaudoise said it is closing its Asian subsidiaries, BCV Investment Asia (Singapore) and BCV Investment Asia (Hong Kong) in order to refocus on its core business. The Lausanne-based bank said it plans to entrust its private-banking subsidiary Banque Piguet with the task of representing its interests in Asia. The bank said in a statement that it is “keenly aware of the strength of the Asia market, in particular the growth potential offered by the high-net-worth segment”.