The wealthier India becomes, the more citizens it loses
UN report shows that 17 million Indians were living overseas in 2017 – a 143% increase from 1990
Middle East
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JTC Group expands global reach with Minerva purchase
Acquisition adds new Dubai office and extends the firm’s reach in sub-Saharan Africa, India and Asia
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Stonehage Fleming partners with US wealth firm
Both will be able to expand their client offerings and geographical capabilities
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Middle East should learn from Hong Kong’s evolution
Pressuring firms to appoint new leadership could also drive change
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Gulf clients are ‘poorly prepared’ for wealth transfer
Report finds only 6% of respondents believe family businesses will make it to the third generation
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Abu Dhabi and Bahrain join forces on fintech
ADGM and Central Bank of Bahrain to collaborate on developing respective financial sectors
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PEOPLE MOVES: Quilter, Purple AM, UBS WM, Barclays Wealth
New CFO at Quilter, Fry Group hires asset manager CEO, and UBS Wealth appoints China duo
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Singapore digital wealth manager offers services to UAE
This is the firm’s latest expansion after it opened offices in Hong Kong, Indonesia, Malaysia and Thailand
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Fraudsters in UAE impersonate Indian Consulate officials
Cold calls asking residents to switch bank accounts are fraudulent, warns Indian Consulate
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Advisers admit to Common Reporting Standard worries
Old Mutual Int’l survey finds 59% of clients have concerns, while 34% of IFAs lack understanding
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UAE’s Nexus to offer instant life assurance online
Financial adviser teams up with Zurich to tap e-commerce demand
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Jersey trust and pension services company to open in Bahrain
First overseas office for the Fairway Group