All articles by Verdict Staff
Verdict Staff
Palmetto Bank selects Investment Professionals to provide wealth management services
Investment Professionals Inc. (IPI), a provider of investment services to community banks, has said that it will provide full wealth management services to The Palmetto Bank, a $1.1 billion community-oriented bank based in Greenville, South Carolina and wholly-owned subsidiary of Palmetto Bancshares.
Single banking supervision system on right track but one step remains: European Parliament
MEPs broadly welcomed the package of rules setting up a single EU bank supervisor but also pointed out that important steps had yet to be taken to ensure the supervisor’s accountability before the deal could be fully ratified by the house. Whilst acknowledging that the system may not be perfect, many members stressed that it was a step towards truly addressing the causes of the crisis.
Morgan Creek to acquire Signet’s alternative funds business
Morgan Creek Capital Management has signed an agreement to acquire the alternative funds business of Signet Capital Management, an institutional fixed income investment firm.
Newton further bolsters fixed income team BNY Mellon boutique hires Khuram Sharih
Newton, part of BNY Mellon Investment Management, has announced the appointment of Khuram Sharih to its Global Fixed Income team as a high yield analyst.
BNY Mellon to expand wealth management unit by adding up to 100 positions
BNY Mellon plans to expanding the sales force at its wealth management unit by 50 percent with up to 100 new appointments in the next two years.
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LPL to pay FINRA $9 million for systemic email failures and for making misstatements
The Financial Industry Regulatory Authority (FINRA) has fined LPL Financial $7.5 million for 35 separate, significant email system failures, which prevented LPL from accessing hundreds of millions of emails and reviewing tens of millions of other emails.
Recent regulation dents Chinese wealth-management industry
Chinese banks are offering fewer wealth-management products amid a decline in yields in May following implementation of a policy that aims to tighten regulation of the sector, Xinhua News reports.
Axa Wealth slashes jobs in international sales team
In an attempt to scale down it’s UK-based international sales team, Axa Wealth has made seven roles redundant, International Adviser reported.
Hargreaves Lansdown founder cashes in $81m of shares
Stephen Lansdown co-founder of Hargreaves Lansdown, a UK-based provider of investment management and financial planning services, has sold 5.5 million shares, representing a 1.16% stake in the company.
Central Bank of Libya signs Islamic finance training deal with INCEIF
The Central Bank of Libya (CBL) has inked an Islamic finance training deal with Malaysian university, International Centre for Education in Islamic Finance (INCEIF) in Kuala Lumpur, to ensure support in developing Sharia-compliant programs at the bank, Libya Herald reported.