Industry
European Wealth buy Towry’s £120m South African client book
European Wealth has bought a book of business from Towry Asset Management, based on its clients in South Africa, who are estimated to have £120m ($152m, €132m) worth of assets.
Tax & Regulation | 7 Oct 16
Life-ban for former HSBC relationship manager
Hong Kong’s SFC disqualifies Chen Chia-hui from the financial services industry following her bribery conviction.
Zedra picks up Barclays UK trust operation
Trust and corporate services provider Zedra has agreed a deal to acquire Barclays UK trust business for an undisclosed sum.
Best Practice | 6 Oct 16
CISI defends industry against UK PM’s crackdown on advisers
The Chartered Institute for Securities & Investment (CISI), a UK professional standards body for the financial services industry has defended advisers against British prime minister Theresa May’s pledge to crackdown on the profession for helping the rich avoid tax.
Harlequin Property enters insolvency to ‘protect investors’
Harlequin Property SVG, the company behind the £400m ($509m, €454m) overseas property scheme, has officially entered insolvency proceedings, a decision likely to result in hefty losses for thousands of investors.