All articles by Verdict Staff
Verdict Staff
AXA Wealth FUM up 14% in Q3
AXA Wealth’s overall funds under management (FUM) in the third quarter of 2015 rose by 14% to £30.4bn from £26.6bn a year ago driven by strong new business including notable growth in the corporate investment business.
Stanhope Capital hires new senior director for Jersey office
Stanhope Capital, an investment firm managing over $9.5bn on behalf of wealthy families, charities and other institutions, has hired Matthew Gambles as new senior director of Stanhope Capital (Jersey).
EXPERT COMMENT: Significant tax reporting obligations for wealth managers under the CRS
Daniel J Dzenkowski, FS Tax Director at PWC, comments on how the UK is implementing FACTA and CRS, amongst nearly 100 countries who are early adopters of the regulation
Vontobel Asset Management bolsters fixed income offering
Vontobel Asset Management has strengthened its fixed income offering by launching a new global corporate mid yield strategy.
HSBC opens new fintech innovation lab in Singapore
HSBC has opened a new financial technology (fintech) innovation lab in Singapore to develop the next generation of digital and mobile banking services.
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CI Financial to buy 100% ownership of First Asset Capital
CI Financial, a Canada-based wealth management firm, has agreed to purchase 100% ownership of First Asset Capital, an investment firm with nearly $3bn in assets under management.
Bank of East Asia to sell brokerage subsidiaries to SinoPac
The Bank of East Asia (BEA) has agreed to divest its wholly-owned subsidiary, Tung Shing Holdings to SinoPac Securities (Cayman) Holdings (SPSC).
Swiss bank Piguet Galland reaches deal with US to settle tax evasion probe
Piguet Galland & Cie, a Swiss-based subsidiary of Banque Cantonale Vaudoise (BCV), has reached resolution with the US Department of Justice (DoJ) over the tax evasion cases under the department’s Swiss bank programme.
Wealth and asset management industry feeling competitive pressure: Study
The wealth and asset management industry has been in growth mode, with assets under management (AUM) on the rise and even margins back on the mend. Yet behind surging AUM and rising revenues, a sound majority recognizes simultaneous undercurrents of profound change, heated competition and margin pressures, according to a new report by Forbes Insights, EY And SEI.
Ameriprise wealth arm records 7% rise in Q3 pre-tax operating earnings
The advice & wealth management arm of the Ameriprise Financial has posted pre-tax operating earnings of $219m for the third quarter of 2015, an increase of 7% compared to $205m a year earlier.