Wealth Management
Montpelier Malaysia reopens office
Following the sudden closure of the Kuala Lumpur office of wealth management firm Montpelier Malaysia on Friday, company director Keith Bayliss has confirmed that staff returned to work on Monday.
Sun Life revenue falls, confirms US wealth business closure
Net revenue was down by a quarter at Canada’s third largest insurer by assets, Sun Life Financial, during the fourth quarter and full year of 2015. The company also incurred a C$63m (£31.1m, $45.3m, €40.2m) restructuring cost related to the closure of its US wealth business.
Indonesian tax amnesty a boost for wealth management sector
Indonesia is to offer generous incentives for tax evaders to regularise their finances, a move that has been welcomed by the country’s wealth managers, reports Reuters.
Credit Suisse slumps after big 2015 net loss
Shares in Credit Suisse fell nearly 12% on Thursday after the bank reported worse-than-expected 2015 results, which included hefty net asset outflows in the final quarter.
Outflows dampen UBS fourth quarter and annual results
Outflows from Europe and emerging markets dented UBS Wealth Management’s fourth quarter results, while annual inflows ebbed dramatically standing at less than a third of their 2014 levels.