PEOPLE MOVES: Jersey, Lombard Int’l, Stanhope Capital

PEOPLE MOVES: Jersey, Lombard Int’l, Stanhope...Lock icon

The States of Jersey has named a chief officer of its financial services team, while Lombard International Assurance has created a general counsel role for its European operations. Stanhope Capital has secured a former Mexican finance minister for its board.

Published : 28, Mar 2017
 India’s largest bank to sell life unit stake in IPO listing

India’s largest bank to sell life unit stake in...

India's largest lender, the State Bank of India (SBI), has announced that it is looking to sell a 10% stake in a life insurance joint venture with SBI Life, as it prepares to launch an initial public offering (IPO).

Published : 28, Mar 2017
Old Mutual break-up plan continues with US asset arm deal

Old Mutual break-up plan continues with US asset...

Old Mutual has agreed to sell a minority stake in its US asset management business to Chinese financial services group, HNA Capital, for $446m (£354m, €410m).

Published : 27, Mar 2017
Westpac senior exec departs immediately in misconduct probe

Westpac senior exec departs immediately in misconduct...Lock icon

Following allegations of inappropriate contact, the chief investment officer of Australian wealth manager BT Financial Group has left the business with immediate effect. Other People Moves this week include Quilter Cheviot, Investec, European Wealth and Edison.

Published : 24, Mar 2017
Sanlam acquires majority stake in PineBridge East Africa

Sanlam acquires majority stake in PineBridge East...

Sanlam Emerging Markets (SEM) has reached an agreement to acquire a majority stake in Kenya-based asset manager PineBridge Investments East Africa Limited (PIEAL).

Published : 22, Mar 2017
Luxembourg shuns ‘aggressive’ Brexit plan to attract UK firms

Luxembourg shuns ‘aggressive’ Brexit plan to attract...Lock icon

Luxembourg, the largest domicile for Ucits funds, will not engage in a “race to the bottom” to lure UK-based asset managers that want to maintain their passporting rights when Britain leaves the EU, according to Anouk Agnes, deputy director general of the Association of Luxembourg Fund Industry (Alfi).

Published : 22, Mar 2017
Praemium agrees to showdown with ex-CEO Ohanessian

Praemium agrees to showdown with ex-CEO Ohanessian...Lock icon

Australia-based platform provider Praemium will hold a shareholder meeting at the request of recently sacked chief executive Michael Ohanessian after he launched a bid to oust chairman Greg Camm and three directors.

Published : 22, Mar 2017
Hong Kong Life Insurance sold in $914m deal

Hong Kong Life Insurance sold in $914m deal

Hong Kong Life Insurance has been sold to local investment firm First Origin International for HK$7.1bn (£738m, $914m, €850m) in the latest insurance M&A deal in the special administrative region.

Published : 22, Mar 2017
PEOPLE MOVES: Standard Life/Aberdeen, Killik, OMGI

PEOPLE MOVES: Standard Life/Aberdeen, Killik,...Lock icon

Standard Life and Aberdeen have clearly defined the roles co-chief executives Keith Skeoch and Martin Gilbert will fill once the companies merge. Killik & Co’s Sarah Lord surprised many this week by announcing plans to move on from the company, while OMGI has parted ways with its fixed income head.

Published : 21, Mar 2017
Phoenix Group on growing and consolidating its brood

Phoenix Group on growing and consolidating its...Lock icon

Having bought Axa Wealth and Abbey Life in 2016, Phoenix Life chief executive Andy Moss tells International Adviser about the group's consolidation history and how it brings all of its new business on board.

Dubai’s DIFC slashes start up costs for new fund managers

Dubai’s DIFC slashes start up costs for new fund...

The Dubai International Financial Centre (DIFC) has scrapped the application fee for setting up as a fund manager in the free zone as competition with rival financial hubs in the region heats up.

Published : 20, Mar 2017
Weatherbys launches private banking service for British expats

Weatherbys launches private banking service for...

Weatherbys Private Bank has launched a service for British expats offering cross-border private banking and cross-currency mortgages.

Published : 17, Mar 2017
PEOPLE MOVES: Nucleus, J Safra Sarasin, JO Hambro

PEOPLE MOVES: Nucleus, J Safra Sarasin, JO Hambro...Lock icon

Nucleus has appointed a successor to chairman Paul Bradshaw who died in January. J Safra Sarasin is targeting ultra-high net worths in Asia with a new division and managing director, while JO Hambro Capital Management prepares to bid farewell to an investment management veteran.

Published : 17, Mar 2017
Bob Diamond joins forces with Qatari bank for London comeback

Bob Diamond joins forces with Qatari bank for...

Former Barclays chief executive Bob Diamond has teamed up with a Qatari investment bank to buy one of London’s oldest stockbroking firms Panmure Gordon.

Published : 17, Mar 2017
Resurgent Brooks Macdonald Int’l boosts group results

Resurgent Brooks Macdonald Int’l boosts group...Lock icon

Double-digit revenue growth by Brooks Macdonald International (BMI) helped drive the specialist discretionary fund management group’s total revenue up 17% to £45.3m ($55.1m, €51.8m) during the six months to 31 December 2016.

Published : 15, Mar 2017
Asia drives strong results for Prudential

Asia drives strong results for Prudential

Prudential’s new business sales of life products rose by 19% to £6.3bn ($7.7bn, €7.2bn) with strong growth in Asia and the UK offsetting a decline in the US market.

Published : 14, Mar 2017
PEOPLE MOVES: Cigna, Lombard Int’l, Woodford

PEOPLE MOVES: Cigna, Lombard Int’l, WoodfordLock icon

Global health insurer Cigna has boosted its distribution platform in Asia Pacific with two senior hires. Lombard International Assurance has appointed a head of France, while Woodford has raided his alma mater Invesco Perpetual to find a head of third party relationships.

Published : 14, Mar 2017
DeVere’s Nigel Green to review Qrops unit in group restructure

DeVere’s Nigel Green to review Qrops unit in group...

DeVere Group chief executive Nigel Green has launched a strategic review of the company’s business which will factor in the surprise Spring Budget announcement of a 25% overseas pension transfer charge on Qrops plans in some markets and particular circumstances.

Published : 14, Mar 2017
Former Pru and AIA man Tucker lands top HSBC job

Former Pru and AIA man Tucker lands top HSBC job...

Former Prudential group chief executive Mark Tucker is to succeed Douglas Flint as the next chairman of HSBC after a long-running search to fill the role.

Published : 13, Mar 2017
STM concedes UK’s tax charge to hit 80% of new Qrops business

STM concedes UK’s tax charge to hit 80% of new...

Cross border financial services provider STM Group has revealed that the UK’s shock decision to impose a 25% charge on transfers to foreign pension schemes will affect 80% of its new Qrop business.

Published : 9, Mar 2017

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Standard Life cuts Asia insurance profile with Hong Kong sale
Standard Life cuts Asia...Lock icon

Standard Life has agreed to sell its wholly-owned Hong...

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