All articles by Verdict Staff
Verdict Staff
China Bank posts 27% growth in 1Q 2012 earnings
The stockholders of China Banking Corporation (China Bank) has approved the declaration of a 10% stock and a P12.00 per share cash dividend for a total of P1.42 billion to holders of 117.99 million outstanding shares (before stock split) at the annual stockholders meeting last Thursday, May 3, 2012. The stockholders likewise approved a ten-for-one stock split of the Banks common shares to provide more domestic liquidity to the Banks shares.
Quilter names former HSBC private bank chief as chairman
Quilter, a UK-based investment management firm, has appointed the former head of HSBC’s private banking arm, Chris Meares, as nonexecutive chairman.
FSA fines Christchurch Investment Management for client money breaches
The Financial Services Authority (FSA) of UK has fined Christchurch Investment Management, which specialises in financial planning and portfolio management, GBP26,600 and its compliance officer David Thornberry GBP11,550 for failings in relation to the protection of client money.
FINRA penalizes Citi, three others for improper sale of leveraged funds
The Financial Industry Regulatory Authority (FINRA) has cracked the whip on four financial firms for selling leveraged and inverse exchange-traded funds (ETFs) without reasonable supervision and ordered them to pay a combined US$9.1 million in fines.
Morningstar launches new, global Stewardship Rating for stocks
Morningstar, a provider of investment research, has launched its new, global Stewardship Rating for stocks, which rates a firm’s stewardship as Exemplary, Standard, or Poor.
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Loring Ward to build new advisor center in collaboration with Envestnet
Loring Ward, a California-based developer of technology solutions for wealth management firms, has partnered with Envestnet to build the next generation of its advisor-facing web portal: The Advisor Center.
Tempewick Wealth Management becomes Alpha Alliance member
Tempewick Wealth Management has been named a member of the Alpha Alliance at Philadelphia Financial, which is a network of distributors with the capability to offer strategic insurance as part of an overall wealth management plan.
Half of investors vaguely aware of risks involved with investment products, study
Half of people who have an investment product are only vaguely aware of the level of risk they are taking within that investment, according to a new report published by investment firm Skandia.
Kingswalk acquires equity stake in European Wealth Management Group
UK-based Kingswalk Investments, an AIM quoted strategic investment company, acquired a 33.33% stake in European Wealth Management Group through the issue of 92,000,000 new ordinary shares.
Advent Software launches cloud-enabled platform for wealth management firms
Advent Software, a US-based developer of software solutions for financial services industry, has launched a cloud-enabled platform for asset and wealth management enterprises.