Industry
People Moves | 22 Sep 16
PEOPLE MOVES: Zurich, HSBC, Pimco
Zurich has named the chief executive of its newly amalgamated division and announced a senior departure. HSBC Private Bank’s US investment services and products solutions business has a new head, while Pimco has appointed a head of Hong Kong retail and a head of China.
OMW denies shelving IPO over platform costs
Old Mutual Wealth has denied reports that it is looking at cancelling its planned listing on the London Stock Exchange due to runaway costs of upgrading the technology behind its platforms.
Tax & Regulation | 22 Sep 16
HFM Columbus warns UK non-doms of ‘pitfalls’ with IPP drawdowns
UK-based wealth manager HFM Columbus has warned non-domiciled UK residents of the pitfalls of making large withdrawals from their international pension plans (IPP) ahead of changes to rules governing remittances.
France, Germany and Italy against EU-wide ban on commission
France, Germany and Italy are against introducing a complete ban on commission in their financial services industries despite pressure from the EU, according to Michael Lodhi, chairman of dual headquartered Paris and Barcelona-based Spectrum IFA Group.
North America | 21 Sep 16
US introducing RDR ‘through the backdoor’
Recent moves in the US suggest that the country is bringing in its own version of the retail distribution review “through the backdoor”, according to Capgemini Consulting’s Rod Bryson.