Barclays fined record £72m for failing to ‘minimise crime’
The Financial Conduct Authority (FCA) has fined Barclays Bank a record amount for failing to minimise the risk that it may be used to facilitate financial crime.
Barclays
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Axa Int’l arm is ‘potential candidate’ for sale
Isle of Man-based Axa Wealth International has surfaced again as a potential candidate for sale following reports that the French-headquartered parent company has hired two advisers in the City of London to offload key operations in the UK.
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Barclays shares climb following CEO sacking
Barclays shares have climbed 3% following the sacking of chief executive Antony Jenkins.
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Barclays sells US wealth management business
Barclays has sold its US Wealth & Investment Management business to American investment bank Stifel Financial Corp for an undisclosed the sum.
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Barclays appoints Channel Is head of offshore funds
Barclays has appointed Steve Rickards to lead the creation and implementation of the bank’s offshore funds strategy.
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WMA appoints three new board members
The Wealth Management Association has appointed three new members to its board, including the chief executive of Interactive Investor.
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Thomas Miller hires head of int’l business development
Thomas Miller Investment has hired Laythamm Malorey from Barclays Wealth and Investment Management to help drive the growth of its offshore business, based in the Isle of Man.
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Julius Baer poaches Barclays
Swiss banking group Julius Baer has appointment two senior Barclays Wealth figures to its UK team as it looks to offer wealth management services to north-west England.
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New ETF to target undervalued Europe
Barclays has licenced its European sector value index to investment manager Ossiam for an ETF which targets undervalued sectors in the region.
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Barclays accused of betraying duties t
A Saudi businessmen is suing Barclays for $10bn in damages, claiming the company struck a secret settlement with the countrys government to further its own interests in the region.
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Barclays hit with 38m fine over client failings
The Financial Conduct Authority has fined Barclays Bank just under £38m for failing to protect clients custody assets worth £16.5bn.
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European Wealth snaps up two wealth managers
European Wealth announced on Tuesday it has hired two new wealth managers, Nigel Gilland and David Mellett, from Gerrard Investment Management, which is owned by Barclays Wealth and Investment Management.