Pakistan
The prime minister of Pakistan, Nawaz Sharif, has resigned after the country’s Supreme Court disqualified him from office for his family’s links to the Panama Papers.
Sharif was linked to the scandal through his children, which saw more than 11 million documents from Panamanian law firm Mossack Fonseca was leaked in 2016. Three of his children owned undisclosed offshore companies that were allegedly used to channel funds to buy foreign assets, including high-end London property.
The court verdict was unanimous, with one of the judges saying that Sharif was no longer “eligible to be an honest member of the parliament”, reports newswire Reuters.
His dismissal continues the trend that no civilian prime minister of Pakistan has ever completed a full five-year term in office, reports the BBC. Sharif first served as prime minister between 1990 and 1993. He later returned to office in 1997 but was toppled in a bloodless coup two years later. He returned to power in June 2013.
Old Mutual Wealth
Chris Tingle is joining Old Mutual Wealth as an investment specialist to help advisers establish and improve their investment propositions. This will include providing support and consulting with them so they can deliver outstanding outcomes for their clients more efficiently.
Tingle will work with advisers through workshops, events, seminars and visits to enhance their understanding of OMWs investment solutions.
He joins from Premier Asset Management where he was a regional sales manager responsible for both multi-asset solutions and single fund sales. He has 20 years’ experience in the financial industry and has previously worked at Axa, Met Life and Standard Life.
Jupiter Asset Management
Neil Carter, head of Middle East & Africa at Jupiter, has left the company to become a co-founder of a data science-based investment management and consultancy business.
Carter joined Jupiter in 2004 from Fidelity Investments as a strategic alliance manager. He was promoted to director of strategic alliances in 2009. He only became head of the MEA in February 2017.
His replacement has been named as Richard Hooper, previously a regional sales manager of Jupiter’s client coverage group UK.
The company said Hooper has “made a strong contribution to Jupiter’s UK distribution over the last two years and this will be a great opportunity for him to develop his career as Jupiter continues to expand its international distribution footprint”.
Financial Conduct Authority
The FCA’s head of insurance and pensions policy, Maggie Craig, has been named head of department for Scotland, a new role created to take forward the FCA’s presence in the country. She will take up her new role in September.
Craig joined the FCA in 2014 and has more than 20 years’ experience in the Scottish financial services industry. Before joining the UK watchdog, she held a variety of roles at the Association of British Insurers (ABI), including director of Scottish affairs, acting director general, and latterly, director of financial conduct regulation.
Neptune Investment Management
David Lee is joining Neptune as head of UK sales in September, having previously worked as sales director at Allianz Global Investors and most recently as head of UK wholesale for Edmond de Rothschild AM.
In his new role, Lee will work closely with Michael McLintock, the former chief executive of M&G who was hired as a special adviser to the firm earlier this year. He will lead Neptune’s key client relationships and broaden the firm’s reach across the IFA community.
DBS (Development Bank of Singapore)
Hou Wey Fook has been named chief investment officer of DBS’s consumer banking and wealth management division. He will be responsible for investment strategies, including global strategic and tactical asset allocations for clients.
Hou has 30 years’ fund management experience and was most recently at the Bank of Singapore where he held various senior roles, including chief investment officer, head of discretionary portfolio management and funds.
He replaces Lim Say Boon who is leaving the bank after seven years to return to Australia for family reasons.
Close Brothers Asset Management
CBAM has appointed Mark Rowe-Ham to its investment team as investment manager for its discretionary management service (DMS).
Rowe-Ham has over 12 years’ experience in private client asset management, having progressed from a graduate trainee to assistant director at Brewin Dolphin. He brings with him the experience of managing discretionary and advisory funds, advising clients on portfolio asset allocation and stock selection.
