News
Julius Baer admits US tax evasion, pays $547m
Swiss private bank Julius Baer said it has reached a deal with the US Department of Justice to pay $547m to settle tax evasion allegations, and at the same time two former Julius Baer bankers pleaded guilty to helping American clients dodge taxes.
BNP’s wealth management division sees surge in net inflows
Good inflows into BNP Paribas’s Wealth Management division, driven by domestic and Asian markets, resulted in annual assets under management growth of 6.8% to €954bn (£728bn, $1.1trn) in 2015.
Hong Kong to allow high risk ETFs under tight controls
Hong Kong’s main securities regulator has announced plans to allow a limited range of leveraged and inverse products, which are effectively higher risk exchange traded funds (ETFs), to be sold to the public.
Technology | news 5 Feb 16
It is time for advisers to fully embrace technology – Nucleus
The ‘industrial revolution’ in technology will continue to overturn both client expectations and the demands they make of financial services firms, says Nucleus CEO David Ferguson.
Tilney Bestinvest buys Ingenious AM
Tilney Bestinvest has struck a deal to buy Ingenious Asset Management for an undisclosed sum.