Abu Dhabi’s ADCB launches regionally focused private bank
Abu Dhabi Commercial Bank (ADCB) has launched a new private bank aimed at providing wealthy clients in the Gulf region with sophisticated banking and wealth management services.
Companies
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Only one in 10 UK advisers fully supports FAMR review
One in 10 UK financial advisers “wholeheartedly” welcome the Financial Advice Market Review (FAMR), according to research from Intelliflo.
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Montpelier Malaysia reopens office
Following the sudden closure of the Kuala Lumpur office of wealth management firm Montpelier Malaysia on Friday, company director Keith Bayliss has confirmed that staff returned to work on Monday.
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HSBC staying in London prompts mixed reaction
Industry reaction to the news HSBC would retain its London headquarters was mixed, as higher capital requirements and being “trapped” in the European Union might work against the banking giant.
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Bedell opens Luxembourg office, appoints directors
Offshore law firm and independent trust company Bedell has expanded its European presence with the opening of an office in Luxembourg; providing corporate, private equity/real estate, and private wealth administration services.
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Montpelier Malaysia suspends two directors, shuts office
Wealth management and financial planning firm Montpelier Malaysia on Friday suspended directors Stuart Williamson and Diane Docherty and closed its Kuala Lumpur office.
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Three bidding for Barclays Asia private wealth business
Singapore’s DBS Group and Oversea-Chinese Banking Corp (OCBC), and Swiss-headquartered Julius Baer have reportedly submitted non-binding bids for Barclay’s Asian private wealth business, reports Reuters.
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Asset allocator: The risk factor
Franklin Templeton Solutions vice-president Matthias Hoppe drills down on the risks and rewards of asset classes and the importance of diversification.
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Sun Life revenue falls, confirms US wealth business closure
Net revenue was down by a quarter at Canada’s third largest insurer by assets, Sun Life Financial, during the fourth quarter and full year of 2015. The company also incurred a C$63m (£31.1m, $45.3m, €40.2m) restructuring cost related to the closure of its US wealth business.
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L&G expands US pension risk transfer business
Legal & General has entered into a second US pension risk transfer deal with a buy-out of around $65m (£44.9m, €57.7m) in pension liabilities.
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Zurich posts sharp drop in 2015 profit, Greco starts in March
Zurich Insurance Group has posted what its own chief executive has called a “disappointing” set of results, recording a 37% drop in operating profit for 2015.
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Fund distributor: GAM eyes Asia expansion
GAM’s James Weston explains his role as the head of international sales and how the asset manager plan to focus more on Asia, Europe and Latin America in the future.