Europe
China’s wealthy send $172bn offshore in three years
A “staggering” $172bn in Chinese funds have been deposited offshore by non-bank institutions in just three years, according to a report by Knight Frank.
Wealth adviser expands in Spain with two offices
The wealth division of Credit Agricole has launched a big push into Spain with two new offices and senior recruits who all join from Deutsche Bank.
Franklin Templeton eyes European ETF expansion
Franklin Templeton has poached a smart beta specialist from Invesco Powershares for a newly-created senior ETF role as it looks to expand in Europe.
EU tax haven blacklist to dwindle to six
EU finance ministers are expected to remove three more jurisdictions from the EU tax haven blacklist, meaning it has shrunk from 17 to just six since its inception in December.
ESG strategy hits Norway’s sovereign wealth fund
Norway’s giant sovereign wealth fund has returned 1.6 percentage points less on an annualised basis over the last 12 years because it excluded some stocks on ethical grounds.