Major Convoy stakeholder sues over share sale
Troubled Hong Kong financial advice firm Convoy Global is being sued by one of its biggest backers in an attempt the halt the sale of shares in another company at a substantial loss.
Industry
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Utmost Wealth Solutions on track to hit €30bn in assets
Isle of Man-based insurer Utmost says it is on course to reach its “near-term” target of €30bn in assets under management, as it confirms the rebrand of recently acquired Ireland-based Generali PanEurope.
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The Fry Group opens in Dubai
Global financial advisory firm The Fry Group has appointed a market head, Middle East as the business breaks into the region.
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Should Australia introduce a UK-style restricted advice model?
With the vertically-integrated advice model under fire and the cost of financial advice being more than the average Australian is prepared to pay, could a UK-style tied model be the solution?
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PEOPLE MOVES: Architas, Macquarie IM, South Africa taxman
Architas’ investment director is to depart and join a DIY platform, while Macquarie Investment Management makes two senior Hong Kong hires and ongoing conflict means more leadership delays at the South Africa Revenue Service.
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Using data to drive an investment strategy
Machine learning and not artificial intelligence forms the core of Goldman Sachs Asset Management’s investment approach, executive director Michael Rhodes says.
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Hackers infiltrate major South Africa life insurer
Liberty Holdings says it is in full control of its IT infrastructure despite the private information of top clients falling into the hands of unknown hackers last week.
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Ronaldo accepts €18.8m fine in tax evasion case
Portuguese football superstar Cristiano Ronaldo has agreed to accept an €18.8m (£16.4m, $21.8m) fine and a suspended jail sentence to settle tax evasion charges, according to media reports.
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Canaccord partners with Holborn for Dubai
Holborn Assets has entered into an exclusive strategic partnership with Canaccord Genuity to provide discretionary portfolio management services.
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‘Lifestyle’ insurance start-up set for launch
An AIG-backed life insurance tool that uses ‘behavioural science and artificial intelligence’ is to be rolled out later this year.
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Premier Group directors could be questioned in court
The Isle of Man-based directors of the failed New Earth Recycling and Renewables (NERR) fund could be interviewed in open court under oath, as the liquidator seeks to “clarify the affairs and dealings of the company”.
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Allegations hit South Africa adviser exam body
Following claims of irregularities, advisers will no longer be able to sit exams with the Financial Planning Institute (FPI) of Southern Africa.