INDUSTRY

Legal & General and Aviva opting for Ireland post-Brexit

Legal & General and Aviva opting for Ireland post-Brexit...

Legal & General will shift some of its business to Dublin once Britain leaves the European Union, while rival insurer Aviva is in the process converting its Irish life and general insurance branches into subsidiaries as the firms prepare for the post-Brexit environment.

Published : 26, May 2017
JTC adds Isle of Man presence with Merril Lynch acquisition

JTC adds Isle of Man presence with Merril Lynch...

Jersey-headquartered JTC Group has acquired Merrill Lynch Wealth Management’s International Trust and Wealth Structuring (ITWS) business, which provides the administration of trust services for the firm’s international advisory clients.

Published : 26, May 2017
Collapsed Australian investment firm bosses fined over A$600m

Collapsed Australian investment firm bosses fined...

Five former executives connected to collapsed Australian finance group MFS have been ordered to pay more than A$600m (£350m, $450m, €400m) in compensation to investors by the Supreme Court in the state of Queensland.

Published : 26, May 2017
Cristiano Ronaldo faces possible tax fraud charges

Cristiano Ronaldo faces possible tax fraud charges...

Real Madrid star Cristiano Ronaldo is facing possible tax fraud charges in Spain, days after fellow football legend and Spanish club rival Lionel Messi had his 21-month jail term for similar charges upheld.

Published : 26, May 2017
PEOPLE MOVES: Manulife, Aegon, Legal & General

PEOPLE MOVES: Manulife, Aegon, Legal & General...Lock icon

Manulife’s president and chief executive is to retire, while Aegon has appointed a policy affairs heavy hitter to oversee the company’s government relations in Europe, the Americas and Asia. L&G has a new head of strategic business for its pension risk transfer division.

Published : 26, May 2017
Commission still makes up 25% of revenue for UK IFAs

Commission still makes up 25% of revenue for UK...

Financial advisers in the UK still earn a quarter of their income from commission, according to latest figures from the Financial Conduct Authority (FCA).

Published : 26, May 2017
Spain upholds jail sentence against Lional Messi

Spain upholds jail sentence against Lional Messi...

Spain’s Supreme Court has upheld a 21-month jail term handed down last year to Barcelona football player Lionel Messi and his father, although the pair are unlikely to go to prison.

Published : 25, May 2017
STM considers Qrops ‘buying spree’ as European units downsized

STM considers Qrops ‘buying spree’ as European...

STM chief executive Alan Kentish has said the cross border financial services provider is well placed to go on a "buy and build acquisition spree" of Qrops businesses, following the UK’s shock decision to impose a 25% transfer charge earlier this year.

Published : 25, May 2017
Sipp provider Momentum clarifies asset rules amid ‘scrutiny’

Sipp provider Momentum clarifies asset rules amid...Lock icon

Malta-headquartered Momentum Pensions has clarified rules around which assets it will accept into its International Sipp as chief executive Stewart Davies confirms the sector is under a “heightened level of scrutiny”.

Published : 25, May 2017
Nigel Green’s son to lead deVere expansion in Europe

Nigel Green’s son to lead deVere expansion in...

International advisory firm deVere Group has unveiled a plan to expand its operations across western Europe and named James Green, son of founder Nigel Green, as its new regional boss.

Published : 25, May 2017
Asset managers 'subsidising' own funds as fee pressures bite

Asset managers 'subsidising' own funds as fee...

Asset managers have been forced to subsidise their own funds in order to keep fees low despite soaring costs, research from Fitz Partners has revealed.

Published : 25, May 2017
Praemium board probe clears Ohanessian

Praemium board probe clears Ohanessian

The new board of Australia-headquartered platform Praemium has issued a robust rejection of the way newly reappointed chief executive Michael Ohanessian was ousted by the previous directors, after conducting a “comprehensive review of events”.

Published : 25, May 2017
Amundi opens Middle East HQ in the DIFC

Amundi opens Middle East HQ in the DIFC

European asset management giant Amundi has opened a regional office for the Middle East in the Dubai International Financial Centre (DIFC) to service institutional clients across the MENA area.

Published : 25, May 2017
BNP Paribas rebrands and targets three key markets

BNP Paribas rebrands and targets three key markets...

BNP Paribas Investment Partners is targeting Germany, China and the US as the three key markets where it can accelerate sales growth significantly, the firm revealed in a 2020 strategic plan statement.

Published : 24, May 2017
DeVere closes Miami office

DeVere closes Miami office

International advisory firm deVere Group has closed its Miami office, one of its two major hubs in the US, following the company’s “strategic review” announced earlier this year.

Published : 24, May 2017
Globaleye names wealth head in bid to up UAE advice standards

Globaleye names wealth head in bid to up UAE advice...

Dubai-headquartered Globaleye has appointed a new head of wealth management to oversee the quality of its advice to clients, raise standards and ensure the company complies with the new rules emerging in the UAE.

Published : 24, May 2017
Abu Dhabi creates will registry for expats

Abu Dhabi creates will registry for expats

Abu Dhabi has created a new register of wills for non-Muslim expats living and working in the UAE, which may allow them to circumvent Sharia law when estate planning.

Published : 24, May 2017
UK fraudsters fined £2m over property scam

UK fraudsters fined £2m over property scam

A long-running investigation by the UK's Financial Conduct Authority (FCA) has finally ended after eight men were convicted and fined over £2m (€2.3m, $2.5m) for running a property scam which conned investors out of more than £4.3m.

Published : 24, May 2017
OCBC opens Indonesia wealth unit amid tax amnesty success

OCBC opens Indonesia wealth unit amid tax amnesty...

Singapore’s OCBC Bank has launched an onshore private banking business, spurred by Indonesia's tax amnesty.

Published : 24, May 2017
Invesco Powershares launches ‘unique’ S&P 500 Ucits ETF

Invesco Powershares launches ‘unique’ S&P 500...

Invesco PowerShares, the exchange-traded funds arm of Invesco, has launched a refined version of an S&P 500 ETF under the Ucits framework.

Published : 23, May 2017

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UK and Spain to probe £120m storage pod pension scams
UK and Spain to probe...

The UK’s Serious Fraud Office is working with the Spanish...

DeVere closes Miami office
DeVere closes Miami office...

International advisory firm deVere Group has closed...

Nigel Green’s son to lead deVere expansion in Europe
Nigel Green’s son to...

International advisory firm deVere Group has unveiled...

British PM to water down £100k 'dementia tax' pledge
British PM to water down...

British prime minister Theresa May has said she will...

Globaleye names wealth head in bid to up UAE advice standards
Globaleye names wealth...

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