Regions
Two Swiss private banks agree deal to build global giant
Zurich-based private bank, EFG International, has agreed a deal with Brazilian bank BTG Pactual to buy its Lugarno-based private banking unit BSI, one of the oldest Swiss banks, for about CHF1.33bn ($1.34 bn, £940m) in cash and stock.
Source broadens US sector range with two new ETFs
UK-based exchange traded fund provider Source launched two new US sector Ucits ETFs, providing targeted exposure to the financial services and real estate sectors of the S&P 500 equity index.
AIFMD having little impact on US fund managers
The scale of activity of US alternative fund managers in Europe has been barely affected by the introduction of the EU’s Alternative Investment Fund Managers Directive (AIFMD).
EU and Monaco sign tax transparency agreement
The EU and Monaco have signed a new agreement which ensures member states will receive the names, addresses, tax identification numbers, and dates of birth of any of their residents with accounts in the principality from 2018.
Chinese securities regulator chief replaced
Following months of market turmoil, the head of the China Securities Regulatory Commission (CSRC), Xiao Gang, was removed from his post and replaced by Lui Shiyu, the chairman of the Agriculture Bank of China.