Industry
DeVere denies ‘unfounded claims’ it uses prohibited funds in SA
International advisory firm deVere has denied claims that it has been investing its South African clients’ money in offshore funds which have not been approved by the country’s regulator, blaming the “unfounded allegations” on a disgruntled former employee.
Focus Financial sells majority stake to two private equity firms
Private equity firms KKR & Co and Stone Point Capital have announced plans to take a majority stake in Focus Financial Partners, a US-based network of independent fiduciary wealth management firms, in a deal worth $2bn (£1.6bn, €1.9bn).
Provisca signs up asset manager Heptagon to target IFAs
International product distribution business Provisca has partnered with Heptagon Capital to help the London-based asset management firm actively promote its funds in the retail market for the first time.
Momentum Pensions launches property Sipp
Malta-headquartered Momentum Pensions has launched a property Sipp product aimed at tackling the “lack of transparency in the property purchase market”.
Middle East | 19 Apr 17
Paul Evans to replace Brendan Dolan as UAE head at Old Mutual
Paul Evans has been named as Old Mutual International’s new head of region for the Middle East and Africa, taking over from Brendan Dolan, who was recently promoted to global sales director.