Industry
Complexity of Asia hinders fund passport schemes
Varying tax and regulatory issues across the region could disrupt the Asia Region Funds Passport initiative, according to Mostapha Tahiri, chief executive and head of asset and fund services for Asia at BNP Paribas Securities Services.
BNP Paribas to exit Cayman Islands by selling last two branches
French banking giant BNP Paribas is set to pull out of the Cayman Islands, according to local trade group Attac.
People Moves | 24 May 16
PEOPLE MOVES: BSI Bank, BlackRock, Aegon…
On what has been a very trying day for Switzerland-headquartered BSI Bank, the company’s chief executive has stepped down with immediate effect. BlackRock has poached its new senior managing director from a Canadian pension fund, while Aegon’s managing director for retail is to retire after 30 years with the company.
BTG Pactual demands over $100m from Generali over BSI fines
Brazilian investment bank Banco BTG Pactual is looking to recover more than $100m (£65.5m, €84.6m) from Italian insurer Generali in fines levied by the Swiss and Singaporean authorities against BSI bank.
Old Mutual Asset Management sale moves closer
Old Mutual is reportedly a step closer to selling its US asset management business, with the group’s board understood to support the deal.