PEOPLE MOVES: Amundi, TISA Exchange, Isle of Man
Amundi hires a former special adviser to an ex-French prime minister, the TISA Exchange names an industry veteran as its chair and the Isle of Man’s Department of Enterprise appoints a chief executive to its finance agency.
Half of advisers failing to adapt their investment process
Despite continued regulatory scrutiny, more than half (54%) of UK financial advisers have not adapted their investment process over the last two years, according to research from FE.
Two industry heavyweights make major announcements
Standard Life Aberdeen is planning to return £1.75bn (€1.99bn, $2.33bn) in capital to its shareholders after selling its UK and European insurance business, while Old Mutual looks to offer up to 9.6% of shares in Quilter as part of its managed separation.
Adviser charged for ploughing A$5.9m into sea snail scam
An Australian financial adviser who funnelled his clients’ money into a failed abalone farm has been charged with six counts of fraud totalling approximately A$5.9m (£3.3m, €3.8m, $4.4m).
Alan Shearer adviser banned for taking insolvent company assets
A UK-based IFA, whose former client was England striker Alan Shearer, has been banned from holding a directorship for sneaking £76,000 from his insolvent advice firm.