Manulife is consolidating its wealth businesses and moving several key figures, while JPMAM has raided the UK Treasury to hire a chief market strategist for Europe and UK and Lombard International created a new chief operating officer role.
Asset management group Sarasin & Partners has launched the Sarasin Systematic Eurozone Equity fund, which aims to provide investors with capital growth over the long term.
Senior appointments were the name of the game this week with Sarasin & Partners appointing a head of distribution, Natixis Global Asset Management replacing its chief executive, and newly rebranded Tilney Group hiring a chief investment officer.
Lombard International Assurance has named a new head of distribution, while similarly named but-not-to-be-confused-with Lombard Odier Investment Managers has brought an entire investment team on board. The Investment Association is on the recruitment hunt for a new chair.
On her second day as UK prime minister, Theresa May has cleaned house and named her new cabinet. Zurich International Life has appointed a new chief operations officer, while Deutsche Bank has provisionally appointed a chief executive for Asia Pacific.
Barclays Wealth & Investment Management confirmed the departure of its long-serving managing director, with Edmond de Rothschild replacing its outgoing chief executive and Bedrock snaring its new managing partner from Coutts.
Lombard International has named a new chief executive for its US operations, while Axa IM has announced a senior departure. Nutmeg’s chief executive has stepped aside, with a Columbia Threadneedle veteran bowing out of the industry after a 32-year career.
Sarasin Asset Management’s John Soler takes a global, thematic view on managing the needs of his US expat clients
DIFC-based Bank Sarasin-Alpen has lost a significant case against a wealthy Kuwaiti family, after it was found to have mis-sold investments worth $200m during the 2007/2008 financial crisis, with its CEO singled out for particular criticism.
Converting a financial services business to a Shariah-compliant model could increase the value of a company by 18% to 25%, due to the current scarcity of genuine Islamic investments, a report issued by Switzerland-based Bank Sarasin concludes.
Sarasin & Partners is to close its Global Village Fund due to a lack of interest from investors.
