Standard Life has agreed to sell its wholly-owned Hong Kong life operation to its Chinese joint venture company Heng An Standard Life Insurance Company (HASL), underlining its move towards an investment-led business focus.
Friends Provident International is up for sale with Utmost Wealth Solutions as the ‘most likely’ buyer, according to a source close to International Adviser.
Old Mutual has agreed to sell a minority stake in its US asset management business to Chinese financial services group, HNA Capital, for $446m (£354m, €410m).
Gibraltar’s government has revealed that it will put in place personal pension regulations “on or before 31 March”, enabling the jurisdiction’s Qrops to retain their status.
The financial industry continues to be “plagued by egregious misconduct” and requires signficant reform, the Monetary Authority of Singapore’s managing director has said.
US authorities are planning to file criminal charges against Malaysian financier Jho Low in connection with the stricken sovereign wealth fund 1Malaysia Development Bhd (1MDB), the Wall Street Journal reported.
AJ Bell is claiming that the UK Treasury has ruled out changes to pension tax relief within the next few years, despite government sources suggesting that this is on the agenda after the post Spring Budget climbdown on national insurance contribution rises for the self-employed.
Gibraltar must put in place a system for regulating personal pensions in just over two weeks to enable the jurisdiction’s Qrops to retain their status and continue to operate in the market.
Indonesia has raised more than $330bn (£265bn, €381bn) from at least 745,000 taxpayers as its tax amnesty approaches next week’s closing date of 31 March.
Former Barclays chief executive Bob Diamond has teamed up with a Qatari investment bank to buy one of London’s oldest stockbroking firms Panmure Gordon.
Korean asset manager Mirae has expanded across Asia, established itself in Europe and continues to grow. Jung Ho Rhee explains how the firm capitalises on a special understanding of key consumer trends in developing markets.
Old Mutual International has confirmed that it has altered its distribution strategy in Switzerland to focus on a more “select group of expat IFAs”, contradicting industry reports that it was pulling out of the market altogether.
