Vestra to be majority owned by Switzerland’s LGT
Vestra Wealth is to become majority owned by Swiss wealth manager LGT after it struck a deal to acquire shares in the business from Vestra’s external investors.
Companies
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ANALYSIS: Changes for the ‘changemaker’ as OMW priced up
The four-way split of Old Mutual may be big news globally, though for many observers – and potential acquirers – the more remarkable story is its growing Wealth business.
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Harwood Wealth announces IPO, targets AIM listing
Harwood Wealth Group, a UK-based discretionary wealth manager, said on Friday it plans to launch an initial public offering and list on the AIM market of the London Stock Exchange.
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Caution urged over EEA secondary share sale offer
Investors in the beleaguered Guernsey-based EEA Life Settlements Fund have been offered the opportunity to register some, or all, of their shares for a proposed secondary share sale in March or April this year. But caution has been urged.
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Falcon Private Wealth Dubai secures DFSA licence
Falcon Private Wealth Dubai has received final licence approval to operate from the Dubai International Financial Centre (DIFC), with immediate effect.
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FPI deal helps Aviva to boost Asian growth
UK insurance giant Aviva said overall operating profit from its life and general insurance and health businesses across Asia grew to £238m in 2015, up from £85m the previous year, in part due to a big contribution by Friends Provident International.
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Barings to become giant global fund after MassMutual mergers
MassMutual, a major US-based mutual life insurance company, has announced a $260bn (£183bn) merger of four asset management affiliates which will be combined under the Barings brand.
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Budget concerns drive UK Sipp contributions up in February
Concerns around the upcoming UK budget saw consumers making the most of their pension benefits in February with self-invested personal pension (Sipp) contributions up by 203% compared with the same month last year.
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Asia drives Prudential sales growth
Despite a challenging economic environment, Prudential ended 2015 with new business sales up 17%, helped by a 26% growth in its Asian operations.
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Zurich buys Australian Life business from Macquarie Group
Zurich Australia, part of Zurich Insurance Group, said it has reached a deal with the Macquarie Group to buy its Australian life insurance business for an undisclosed sum.
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Wealth Manager M&A hits highest level since 2009
Wealth management merger and acquisition (M&A) activity reached its highest level since the recovery from the global financial crisis began, according to a report by Scorpio Partnership.
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ANZ restructures Australasian wealth management business
ANZ will simplify its approach to wealth management and more closely align its distribution of wealth products and services with its retail and commercial businesses, the bank announced on Wednesday.