uhnwis control 25trn wealthx study
A pool of almost 186,000 ultra-high net worth individuals account for assets of more than $25trn, according to Wealth-X, a Singapore-based research provider to global institutions.
Industry
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us expats hold uncitizenship event in canada
What is said to have been the first citizenship renunciation meeting ever held in Canada took place at the US consulate in Toronto last month, as some 22 Americans sought to end once and for all the hassle of being a US expat, the Canadian Globe and Mail reported yesterday.
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fund redemptions slow slightly in september
Long-term funds in Europe suffered redemptions of 46.2bn in September, as continued market volatility in the month sent investors running scared.
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american citizens abroad continues to pressure IRS
American Citizens Abroad, a Geneva-based organisation which represents expatriate Americans around the world, is continuing to push publicly for a relaxation of the US tax authorities recent, rigid and punitive treatment of US expats who have failed to report the existence of their overseas bank accounts.
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rbc wm hires vaysleyb as hardisty departs
RBC Wealth Management has recruited Daniel Vaysleyb as head of its Jersey-based offshore advisory business, following the departure of Barry Hardisty.
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lion global launches target fund
Lion Global Investors has launched a unit trust in response to investor concerns about falling interest rates and high market volatility.
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immunity offered under swiss uk tax deal worthless
An immunity from prosecution offered by the UK government and which underlines the Swiss-UK tax deal is not worth the paper it is written on, according to a leading tax investigation specialist and commercial law firm.
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international sales rise at friends life
Friends Life reported an 11% rise in international sales volumes for the first nine months of the year, driven primarily by its Asian business.
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dubai investor fined 9 6m by fsa
The UKs City watchdog, the Financial Services Authority, has fined a private Dubai-based investor $9.6m, the largest fine ever imposed on an individual.
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martin wheatley elected to esma management board
The European Securities and Markets Authority has elected Martin Wheatley, a senior figure at the UKs Financial Services Authority, to its management board.
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global index intl set for expansion into africa
Global Index International is expanding into Africa, and has agreed an exclusive deal with Global Benefits Europe to distribute its products in Nigeria and Angola.
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credit suisse provides client names to irs
Swiss bank Credit Suisse has confirmed it has informed some of its American clients with offshore private banking accounts that their names will be handed to the US tax authorities.