Northern Trust expands in Europe with UBS buy
US-based Northern Trust Corp is to buy UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.
US-based Northern Trust Corp is to buy UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.
Old Mutual is in talks to sell a stake in its US asset management unit following approaches from China’s HNA group.
MitonOptimal International, the Guernsey-headquartered investment management group, has merged with Isle of Man-based investment advisory business, Blythe Financial.
Closed book provider Phoenix has said integrating the recently-bought pensions and protection businesses from Axa has generated more than £117m (€135m, $143m) in cash.
Old Mutual has confirmed its exit from continental Europe after finalising the sale of its Italian operations to Phlavia Investimenti.
Dutch-headquartered insurer Aegon has moved a step closer to transforming itself from a traditional life company to a “fully-fledged platform business”, after officially completing the purchase of the Cofunds UK platform.
Private bank Arbuthnot Lathan and one of the UK’s largest financial advisory firms, Brewin Dolphin, have snapped up parts of wealth manager Duncan Lawrie as its parent company, Camellia, departs the private banking industry.
The acquisition of Alliance Trust’s investment management business is projected to add £2.3bn ($2.9bn, €2.7bn) to Liontrust’s assets under management, pushing it past the £8bn mark.
Old Mutual has announced a public offering of 13 million ordinary shares in New York-listed Old Mutual Asset Management (OMAM), as moves towards breaking its business into four separate units.
The Dutch bank ABN Amro is to sell its private banking operations in Hong Kong, Singapore and Dubai totalling $20bn (£15.7bn, €18.6bn) in assets under management to LGT, the two groups announced in separate statements on Tuesday.
Australian-listed financial services firm IOOF Holdings has indicated it is interested in buying the ANZ bank’s domestic wealth management business.
Standard Life has confirmed that Elevate will continue as a distinct platform after months of speculation that it could be combined with the investment firm’s Wrap proposition.