Luxembourg private bank opens Swiss office
It will also unveil its first branch in Denmark by the end of the year
Private Banking
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HMRC targets firms that facilitate tax evasion
It has nine businesses in its sights, as it deploys new powers for the first time
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Wealth management hiring spree for Japanese investment bank
Dozens of private bankers to join firm in Hong Kong and Singapore offices
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Allianz enters into distribution partnership in Italy
Expanding its investment proposition for financial advisory clients
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Lombard Odier sells off Gibraltar private banking operation
It follows the Swiss firm’s global re-positioning that saw it move into Abu Dhabi and Indonesia
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Radical shakeup of Swiss private banks needed
Swiss private banks are failing to address rapidly declining profitability and are too focused on defensive measures to implement a radical transformation that will allow them to generate competitive advantage and sustainable growth, says KPMG.
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Credit Suisse in Saudi Arabia private banking push
Credit Suisse has identified Saudi Arabia as a priority for its wealth management business and is on the hunt to recruit more private bankers.
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NAB sells Asian wealth units to Singapore’s OCBC
The National Australia Bank has announced the sale of its private wealth business in Singapore and Hong Kong to Singapore’s OCBC.
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Canaccord Genuity expands in IoM with Duncan Lawrie deal
Canaccord Genuity Wealth Management, part of Canada-based financial services group Canaccord, has bolstered its presence in the Isle of Man by snapping up more than 100 client portfolios from former wealth manager Duncan Lawrie Private Bank.
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deVere launches private bank following St Lucia acquisition
deVere Group, one of the world’s largest independent financial advisory organisations, has launched its own private bank on the Caribbean island of St Lucia.
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SEB Life Intl targets European growth after Nordic dominance
Having uprooted and moved lock, stock and barrel from Sweden to Dublin in June 2015, SEB Life International’s managing director Peder Nateus has embraced both local high-contact sports and the life insurer’s focus on Europe.
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Hong Kong seeks private bankers for local, mainland clients
There is a huge demand for relationship managers to look after high net worth (HNW) clients in Hong Kong and mainland China, a trend which is expected to continue in the coming year.