PEOPLE MOVES: Investec, NN IP and Heartwood
NN IP chooses its lead portfolio manager of emerging market debt, Investec hires its UK institutional sales director from Goldman Sachs and Heartwood makes a raft appointments to its investment team.
Asia
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Under the radar regulation hits Asia
The consolidation drama playing out in Europe’s life sector is grabbing headlines while significant regulatory change in Asia – including a cap on insurer ownership – remains firmly out of focus.
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Malaysia readies robo-adviser licence
Malaysia’s regulator has provided details on applying for a robo-advisory asset manager licence, after first announcing the plan in 2017.
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StanChart Singapore hit with $5m fine for Guernsey transfers
The Monetary Authority of Singapore (Mas) has fined Standard Chartered S$6.4m (£3.5m, $4.9m €3.9m) for breaches to anti-money laundering and countering the financial of terrorism following the transfer of trusts from Guernsey.
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Are regional emerging market funds making a comeback?
Emerging market equities is one of the few asset classes where investors are still seeing value, but as the asset class makes a comeback investors have different takes on whether to allocate to regional funds or leave geographical allocation to portfolio managers.
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Hong Kong regulator targets big guns
In separate moves, Hong Kong’s Securities and Futures Commission (SFC) this month has gone after UBS, Deutsche Bank and brokerage firm CLSA for regulatory breaches.
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Panama Papers take down law firm Mossack Fonseca
The law firm at the centre of the Panama Papers scandal, which saw millions of its private client files leaked to the media, has announced it is closing.
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Nexus departs Singapore to focus on Middle East
Dubai-headquartered Nexus Group has confirmed to International Adviser that it is to close its Singapore arm, Nexus Financial Services, and focus on its core Middle East operations.
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Singapore clamps down on adviser recruitment incentives
In an attempt to curb mis-selling and adviser mass-migration, guidelines on the use of sign-on incentives in the recruitment of financial advisers have been rolled out by the Life Insurance Association of Singapore (LIA).
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Prudential offloads £12bn annuity book as it carves out M&G
Prudential is selling £12bn ($16.7bn, €13.5bn) of its UK annuity portfolio in a landmark deal to Rothesay Life, as part of a major revamp that will see its UK and Europe business, M&G Prudential, become a separately-listed company.
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Singapore police and regulator team up to investigate IFAs
The Monetary Authority of Singapore (Mas) and the white-collar crime unit of the city-state’s police force are teaming up to investigate all capital markets and financial advisory offences.
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PEOPLE MOVES: Goldman Sachs, Momentum Pensions, Aegon
Goldman Sachs signals its next chief executive will be an electronic DJ, Momentum Pensions appoints a managing director of its UK arm and Aegon hires a head of investor relations.