Hermes CEO recognised in New Year’s Honours List
With Hong Kong businessman given a CBE for services to trade and investment
RBS
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PEOPLE MOVES: Just Group, Schroders Personal Wealth, AJ Bell
Financial services firm hires CEO, while Lloyds joint venture bolsters team to set up adviser academy
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PEOPLE MOVES: Abacus, RL360°, Coutts
Abacus has recruited from Globaleye, RL360° has bolstered its Latin America sales team with an Old Mutual Group alum and Coutts’ has parted company with its head of key client coverage more than three years after a sexual harassment investigation.
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Will inflation remain absent?
During almost a decade of experimental monetary policy from central banks, inflation has been notable by its absence across most economies. With monetary policy beginning to diverge and unemployment falling, will it rear its head again or has it peaked?
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Coutts loses ombudsman fight over discretionary portfolios
A couple who claimed Coutts mismanaged their discretionary portfolios have won a fight for compensation after taking their case to the Financial Ombudsman Service (FOS).
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PEOPLE MOVES: Citi, Guardian Wealth, Brewin Dolphin
Citi Private Bank has named two heads of investment for Asia Pacific, with GWM Investment Management adding a senior wealth manager in London. Brewin Dolphin’s Jersey office has a new head.
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Coutts & Co fined HK$7m by Hong Kong Monetary Authority
The Hong Kong branch of Coutts & Co has been fined by the Hong Kong Monetary Authority (HKMA) for failing in its anti-money laundering (AML) and counter terrorist financing (CTF) checks.
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Swiss regulator keeps up pressure on UBS in 1MDB investigation
Switzerland’s financial regulator is continuing its money laundering investigation into UBS Group and three other private banks in relation to Malaysian sovereign wealth fund 1MDB.
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Coutts opens online platform; launches passives range
Coutts is offering access to five risk-graded multi-asset passive funds via a new online platform, Coutts Invest.
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US justice department probes Jho Low role in 1MDB scandal
US authorities are planning to file criminal charges against Malaysian financier Jho Low in connection with the stricken sovereign wealth fund 1Malaysia Development Bhd (1MDB), the Wall Street Journal reported.
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Weatherbys launches private banking service for British expats
Weatherbys Private Bank has launched a service for British expats offering cross-border private banking and cross-currency mortgages.
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Swiss regulator fines Coutts $6.6m for role in 1MDB scandal
Switzerland’s financial regulator has fined Coutts & Co, which counts the Queen among its clients, for violating money-laundering rules and illegally profiting from transactions associated with 1Malaysia Development Bhd (1MDB).