M&A Deals
JTC adds Isle of Man presence with Merril Lynch acquisition
Jersey-headquartered JTC Group has acquired Merrill Lynch Wealth Management’s International Trust and Wealth Structuring (ITWS) business, which provides the administration of trust services for the firm’s international advisory clients.
Competition watchdog to scrutinise Standard Life/Aberdeen deal
A UK government watchdog has announced an investigation into the merger of Standard Life and Aberdeen Asset Management, to ensure it does not damage competition in the industry.
South Africa’s Sanlam increases stake in Moroccan insurer
South Africa’s financial services group Sanlam and leading insurer Santam have increased their stake in Morocco’s SAHAM Finances for $329m (£254m, €298m).
NAB sells Asian wealth units to Singapore’s OCBC
The National Australia Bank has announced the sale of its private wealth business in Singapore and Hong Kong to Singapore’s OCBC.
Aviva to reduce Spanish presence with €475m life unit sale
Aviva will sell interests in two bancassurance agreements and a life business to Santalucia, raising €475m (£403m, $517m), as the UK insurer looks to wind down its operations in Spain.