The Isle of Man’s financial services regulator is looking to officially liquidate the stricken Eco Resources Fund, which convinced 189 investors to put $61m (£48m, €57m) into building a bamboo plantation in Nicaragua.
Isle of Man-based Premier Group, the fund manager behind the ill-fated £300m ($373m, €353m) New Earth Group of funds, will be able to pay its creditors in full, according to joint liquidator Craig Mitchell.
Premier Asset Management has confirmed its IPO with existing shareholders, including Electra Partners, set to retain a controlling 54.4% of the business.
Provisca, the international distribution business launched in August, has named Richard Williams as its first regional director with a brief to spearhead business relationships in the retail and wholesale Middle East market sectors.
Premier Asset Management has hired stockbrokers to look into the possibility of listing on the London Stock Exchange, according to media reports.
The revolving door continues to spin as HSBC GAM announced appointments and a replacement, with a member of staff departing for sunnier climes. Schroders and Premier also reported departures, as Orangefield Legis recruited an industry veteran.
