Companies
Northern Trust expands in Europe with UBS buy
US-based Northern Trust Corp is to buy UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.
Asset management outlook bright but technology threat lurks
Two-thirds of chief executives in the asset and wealth management industry believe technology will reshape their business over the next five years, but just 10% are prioritising the development of digital skills and capabilities within their companies.
PEOPLE MOVES: RBC WM, Moola, Ascot Lloyd
Canada’s RBC has appointed a head of wealth management for its businesses in the UK, the Channel Islands and Asia. Gemma Godfrey’s Moola has poached its chief investment officer from BlackRock, while Ascot Lloyd has created a new head of advice role.
South Korea’s ING Life Insurance applies for IPO listing
Seoul-based ING Life Insurance Korea, South Korea’s fifth-largest life insurer, has applied for an initial public offering (IPO).
Australia’s IOOF profits fall after trimming adviser business
One of Australia’s biggest and oldest independent financial advice and wealth management companies, IOOF, has posted a 45% drop in net profit for the six months to 31 December 2016.