Waverton buys 2CG Senhouse
Waverton Investment Management, formerly J O Hambro Investment Management, has acquired London-based long only investment boutique 2CG Senhouse, which specialises in European and southeast Asian equities.
Companies
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Hong Kong watch retailer to buy Liechtenstein private bank
The Liechtenstein-based private banking arm of Swiss firm Valartis Group is being sold to Hong Kong luxury watch retailer, Citychamp Watch & Jewellery Group.
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Private equity firms eye Old Mutual’s wealth arm
A number of US private equity firms are preparing bids for Old Mutual’s wealth division, with two funds rumoured to have already teamed up to make an offer, The Sunday Times has reported.
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Lombard Int’l posts record 66% rise in new US premiums
Re-launched global brand Lombard International has reported a massive 66% increase in income from new business premiums in the US, compared to a more modest 13% rise from its European operations.
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Sun life Financial to own Indonesian life insurer outright
Sun Life Financial (SLF) has announced that it will take 100% ownership of the Indonesia-based life insurer PT CIMB Sun Life (CSL), after signing an agreement to purchase an additional 51% stake on top of the 49% it already owns.
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Credit Suisse to cut 2,000 more jobs, save another CHF800m
Credit Suisse is to eliminate another 2,000 jobs and make an additional CHF800m (£576.1m, $824m, €733.8m) in cost savings, as it accelerates the pace of its restructuring following disappointing results in the final quarter of 2015.
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AFH drops bid for Lighthouse over ‘limited growth prospects’
IFA consolidator AFH has pulled out of a potential bid to acquire Lighthouse as it sees “limited growth prospects” for the national advice firm.
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The rise of investment fintech
No longer the preserve of payment solutions developers, fintech startups are gaining ground and increasingly disrupting the investment management industry.
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Novia partners with DFMs on new investment portal
International intermediaries’ platform Novia Global has launched a new integrated investment portal, which provides access to a panel of discretionary fund managers (DFMs).
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J. Safra Sarasin buys Credit Suisse’s Gibraltar, Monaco arms
Swiss private banking firm J. Safra Sarasin is set to acquire Credit Suisse’s operations in Gibraltar and Monaco, the company has announced.
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DBS front runner for Barclay’s HK and Singapore wealth units
Singapore’s DBS Group is reported to be the front runner to buy Barclay’s Hong Kong and Singapore private wealth units, reports the Straits Times.
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Boal & Co lowers Qrops fees
International pensions provider Boal & Co has cut fees across its Qrops range following feedback from introducers.