Europe
Northern Trust expands in Europe with UBS buy
US-based Northern Trust Corp is to buy UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.
Luxembourg hits record of €3.7trn AUM despite Brexit jitters
Assets under management in Luxembourg-domiciled funds grew by 7% to €3.74trn (£3.18trn, $3.97trn) last year, the latest data from the Association of the Luxembourg Fund Industry (ALFI) shows.
Spain ‘hopeful’ of a deal on UK expat rights after Brexit
Spanish prime minister Mariano Rajoy says he believes a deal can be done with Britain to preserve the rights of British expats in Spain after Brexit.
iShares European ETF first to top $20bn
Blackrock’s iShares Core S&P 500 Ucits ETF has become the first European ETF to top $20bn (£16.1bn, €18.9bn) in assets, coinciding with new highs in the S&P 500 index as the reflation trade continues.
British expats living in Europe face Brexit backlash
British nationals living in the European Union can expect to face a backlash following the UK’s treatment of foreigners, a leaked report has warned.