Wealth management fees hit 5-year high in Singapore
Wealth management fees more than doubled between 2010 and 2015 at Singapore’s three banks, as Asia Pacific surpassed North America as home to the largest number of high net worth individuals.
Companies
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Offshore bonds and Qrops drive jump in STM profit
STM Group, a specialist financial services group, said a focus on building up its international pensions and life assurance products business helped it post a near 60% rise in net profit for the year to 31 December 2015.
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Barclays to sell its stake in Africa bank
Barclays Bank has announced its intention to sell its 62.3% stake in its African business, Barclays Africa Group Ltd (BAGL) over the next two to three years as it faces regulatory pressure over capital requirements and FX erosion.
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Top UK fund manager Pease takes Henderson to court
Well known UK fund manager Richard Pease has filed a high court claim against his former company Henderson Global Investors over what he sees as unpaid money owed, according to a Sunday Times report.
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Zurich affirms commitment to Hong Kong and Singapore
Zurich Insurance Group’s existing operations in Hong Kong and Singapore have emerged intact from the current global review into the company’s operations.
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Belgium charges UBS with serious and organised tax evasion
A Belgian judge has charges Swiss bank UBS with money laundering and serious and organised tax evasion, according to media reports.
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Don’t overlook the opportunity in volatility, deVere CEO
In spite of the current market volatility there are two key reasons why investors should be building up their portfolios now, according to deVere Group founder and chief executive Nigel Green.
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JPM named new manager of BlueCrest AllBlue
Highbridge Capital Management has been appointed manager of the BlueCrest All Blue Investment Trust, following a vote at Wednesday’s extraordinary general meeting.
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SJP to open new office in Canary Wharf
Announcing strong results for the full year, St James’s Place said it is planning a new office in Canary Wharf, following the completion of the Rowan Dartington acquisition.
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Market volatility tempers growth at Axa Wealth
Axa Wealth International has reported flat growth in its annual results against a backdrop of stock market volatility and pension reforms.
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Bellevue acquires German fund manager StarCapital
Swiss investment company Bellevue Group has acquired independent German fund manager StarCapital in a move that brings its assets under management to CHF7.8bn (£5.6bn, $7.8bn, €7.1bn).
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Forth Capital switches to passive funds with Morningstar
Geneva-headquartered financial advisory group Forth Capital has partnered with Morningstar to offer a passive and ETF-based investment proposition across all its offices.