Fullerton Securities, owned by Temasek Holdings, has hired almost the entire team of 130-odd employees of the wealth management division of Pinc, said one of the two sources.
“Pinc had closed its retail broking and wealth management businesses around February-March this year. It wanted to focus on institutional broking and investment banking,” said the person, on condition of anonymity. “Fullerton was anyway looking to hire people. It roped in almost entire team of Pinc’s wealth management division. There was no monetary transaction. It was done based on mutual understanding between Pinc and Fullerton,” he added. Full story
