People Moves | 21 Apr 16
PEOPLE MOVES: Aviva UK Life, Axa IM, Wells Fargo AM…
Aviva UK Life has promoted from within to fill the chief financial officer role that will be vacated by John Lister when he retires in September. Axa IM is bolstering its EM division with a new head of EM fixed income, while Wells Fargo AM has poached an executive VP from SSGA who will lead the firm from June.
Australian banks plan major changes to commission fees
The Australian Bankers Association (ABA), which represents all the country’s major banks, has unveiled a sweeping review of product sales commissions and product based payments with a view to removing or changing them where they lead to poor customer outcomes.
OMGI’s Buxton: Brexit “not going to happen”
Brexit should not concern investors because it is “simply not going to happen”, according to Old Mutual Global Investors chief executive Richard Buxton.
OMGI keen on EM sovereign bonds
Old Mutual Global Investors is overweight Indonesian and Indian government local currency bonds.
Tax & Regulation | 21 Apr 16
Bogus UK land bank ordered to pay £21m after losing appeal
A British land bank scam which sold investors small plots of land at hugely inflated prices has been ordered to pay its victims £21m ($30.1m, €26.5m) after losing a Supreme Court appeal which challenged an earlier ruling, the Financial Conduct Authority (FCA) has revealed.