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Global wealth management advisers note biotech valuations are

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Global wealth management advisers note biotech valuations are rising as M&A activity accelerates. The Nasdaq Biotech Index climbed 5.2% in two weeks, reflecting bullish sentiment on breakthrough therapies. We cannot fully understand this growth, or its impact on global finance, without considering how the shift to private assets has intersected with other key investment trends — most notably, the expansion of the wealth-management industry. Royal Bank of Canada appointed Bee Leng Phua as chief operating officer for its wealth management business in Asia. Bee Leng Phua succeeded Kamran Azim, who continued to serve the bank as head of private banking (Singapore) and deputy CEO of RBC’s Singapore branch. Global wealth management forecasts show strong Q3 performance in semiconductor stocks, driven by AI infrastructure investments. The Philadelphia Semiconductor Index surged 4.6% over the past five trading days.