Industry
HSBC and Standard Chartered shares jump despite profit slides
Shares in HSBC jumped 3.6% in London on Wednesday despite it revealing a 29% slide in profits to $9.7bn (£7.3bn, €8.7bn) for the first half.
Strong half year for Architas, Axa remains resilient
Asset manager Architas reported a 52% increase in total assets in the first half of 2016, while parent company Axa Group recorded stable revenue and underlying earnings, with net income up 4% against the same period last year.
Tax & Regulation | 2 Aug 16
Jersey consults on private and unregulated fund changes
Jersey’s Financial Services Commission (JFSC) and the island’s government have proposed a new and universal professional investor definition, phasing out unregulated ETFs, and rebranding and amending the jurisdiction’s very private funds regime.
Ireland’s ITC expands into Malta with Qrops and EU-wide pension
Irish pension trustee firm ITC International Pensions has moved into Malta with the launch of a new Qrops offering as well as the first commercially available EU-wide workplace pension scheme on the island.
People Moves | 2 Aug 16
PEOPLE MOVES: OMI, Architas, Hong Kong SFC
Old Mutual International has named a managing director for its Isle of Man operations, while Architas has poached Seneca IM’s head of retail for a new role and added Axa Wealth’s head of investing to its roster. The Hong Kong and Australian regulators also announced senior appointments.