Barclays pulls out of Gibraltar
Barclays is to close its remaining Gibraltar office and depart the British overseas territory, two years after it began winding down its retail banking operations there.
Companies
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Four brands combine to form Irwin Mitchell Private Wealth
Irwin Mitchell Private Wealth will bring together the existing expertise of the teams from Berkeley Law, Berkeley Hurrell, Thomas Eggar and Irwin Mitchell, under a single client offering.
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Sovereign expands into Sipps with MW Pensions deal
Sovereign Group, an international wealth management and retirement planning provider, has acquired UK-based MW Pensions, a specialist in Self-Invested Personal Pension (Sipp) schemes, for an undisclosed amount.
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Switzerland’s UBP upbeat on Asia after Coutts deal
Despite private banks selling assets or cutting staff in Asia, Guy de Picciotto, chief executive of Switzerland-based Union Bancaire Privee (UBP), said his bank plans to hire roughly 40 relationship managers and expand in China.
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PraxisIFM acquisition expands Swiss and African presence
Channel Islands-based financial services group PraxisIFM has acquired Ampersand Management, a fiduciary and corporate governance consultancy, to enhance its presence in Switzerland and expand the company’s footprint in Africa.
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Platform group Praemium posts 23% rise in managed funds
Australia-headquartered platform provider Praemium has posted a 23% increase in funds under administration (FUA) for the year to 31 March, 2016.
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CFA and Woodford call for removal of “mystery” around fees
The investment profession’s value proposition is not well understood, while there remains a need for improved transparency and disclosures in fees and charges, according to CFA UK.
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Generali to expand in Asia by pumping capital into Thailand
Italy’s largest insurer Generali will pump money into its Thai operations as part of plans to expand across Asia, Thai local media has reported.
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Life Trends: Industry flux opens opportunities for new players
Regulation, technology and the rapidly changing lifestyles of consumers is ushering in a period of unprecedented flux within the life industry, creating a rich seam of opportunity for new players.
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Fund distributor: The state of independence
Neuberger Berman’s Dik van Lomwel shares his views on the company’s local-to-local distribution strategy, life after Lehman Brothers and how the New York-headquartered firm’s clients will define its future.
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Top 50 US firms stashing $1.3trn offshore, says Oxfam
The 50 biggest US corporations have more than a trillion dollars hidden offshore, according to a new report published by Oxfam on Thursday.
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Tilney Bestinvest launches one-off advice service
Tilney Bestinvest is launching a new “one-off advice service” designed to serve clients who require advice on investing a single lump sum or making a round of portfolio changes.