AMP sells investment business to Macquarie for A$185m
Operation covers fixed income, Australian listed equities, real estate and infrastructure strategies
Operation covers fixed income, Australian listed equities, real estate and infrastructure strategies
Two regulators and several law firms in the UK also made the Stonewall list
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.
A cull of advisers and a shift in strategy have put clients of Australia’s Macquarie Group with less than A$1.3m (£724,000, $977,000, €829,000) of assets in limbo.
The investment management division of Macquarie Group is to acquire Luxembourg-based ValueInvest Asset Management for an undisclosed sum.
Macquarie’s direct robo-advice service is to be shut down with its automated advice offering integrated into the bank’s wealth platform following the sudden death of founder and chief investment officer John O’Connell.
Asset managers have been on a bit of a hiring spree with T Rowe Price and Invesco’s Powershares expanding their business development teams while Amundi and Man Group announce some internal promotions.
Old Mutual Wealth’s Intrinsic has lured its new group managing director from Sesame Bankhall Group, which has prompted a management reshuffle at the financial services distributer. GAM has raided Henderson to fill its newly created head of equities role.
The Federal Court of Australia has approved the transfer of Macquarie Life’s risk insurance portfolio to Zurich Australia, a move that will see the Swiss firm become Australia’s fourth biggest retail insurer in the IFA segment.
Axa Asia has named a chief executive of Life & Savings and Distribution, while Legal & General have added to its investment and pension risk transfer businesses with two appointments. Aegon Asset Management has bolstered its American real estate advice business with three people moves.
The Australian Securities & Investments Commission (Asic) has commenced proceedings against Macquarie Investment Management relating to a A$30m (£15.3m, $22.4m, €19.9m) investment in a Cayman Islands-based fund.
Zurich Australia, part of Zurich Insurance Group, said it has reached a deal with the Macquarie Group to buy its Australian life insurance business for an undisclosed sum.