Companies
Barclays and Deutsche continue non-core business sell-off
Barclays has completed the sale of its Italian retail banking network, while Deutsche Bank is to sell its subsidiary in Argentina, as the banks continue to rationalise their footprints and business strategies.
Hong Kong regulator fines BNP Paribas HK$4m for overcharging
The Securities and Futures Commission (SFC) has fined BNP Paribas Wealth Management HK$4m (£393,000, $515,664, €461,793) for overcharging its clients.
PraxisIFM boosts Middle East growth with acquisition
Channel Islands-based financial services group PraxisIFM has acquired fiduciary and accounting company Balmor Management, as the firm looks to grow its presence in the Middle East.
Industry duo launch offshore support firm
Former VAM Funds sales director Nigel Watson and Bryan Low, founder of Acuity Consultants, have joined forces to set up a distribution company for international products called Provisca.
M&A firm Phoenix to shut down Cayman holding company
Life company consolidator Phoenix Group plans to close its Cayman Islands holding company and set up a new operation in the UK.