UBS launches ’robo’ wealth manager
UBS is entering the robo-advice space as it prepares to bring a digital wealth management proposition to market next month in a bid to attract younger clients.
UBS
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France requests data on 45,000 UBS accounts from Switzerland
French tax authorities have asked Switzerland to name the holders of 45,161 bank accounts as part of an investigation into alleged tax fraud, French news service AFP has reported.
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PEOPLE MOVES: Aviva Investors, Manulife, Aegon
Aviva Investors has added four senior people to its client solutions team, while Manulife has named its new chief operating officer. Aegon’s chief financial officer is to depart, with Axa Investment Managers boosting its management team.
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Currencies: Swings and roundabouts
Making a call on currencies can be make or break for a portfolio and as the global economy enters uncharted waters, managers are looking for signs of the next big swing
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MUFG bolsters fund administration capability with acquisition
MUFG Investor Services, the global asset servicing group of Tokyo-based Mitsubishi UFJ Financial Group, has agreed to acquire mutual fund administration business Rydex Fund Services from Guggenheim Partners.
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Singapore to act against 4 key banks over 1MDB scandal
Singapore has announced plans to take action against four major banks, including a Swiss private bank, over their involvement with the scandal-ridden Malaysian sovereign wealth fund 1Malaysia Development Bhd (1MDB).
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PEOPLE MOVES: UK prime minister, Old Mutual Wealth, UBS
For only the second time in its history the UK is to be led by a female prime minister. Old Mutual Wealth has appointed a chief risk officer, while UBS Asset Management has created a new sustainable and impact investing role.
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UBS ordered to release account details to French authorities
Switzerland’s Federal Tax Administration has ordered UBS to provide account information to French authorities, with the Swiss bank now expecting similar requests from other countries.
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PEOPLE MOVES: Amundi, Pictet, Axa, FCA, ABI, UBS, BNY Mellon
Amundi announces a high-profile global advisory board, while Pictet names ex-Goldman Sachs director Dominique Joories to head its Singaporean banking unit. Axa reveals Jean-Laurent Granier, the chief executive of the group’s Mediterranean and Latam divisions, will step down next month while prominent figures from the UK’s insurance industry join trade body ABI.
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UBS invests in wealth management technology
UBS Wealth Management Americas (WMA) has formed a strategic alliance with San Francisco-based wealth management technology firm SigFig to develop a digital platform to support the UBS’s financial advisers and their clients.
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PEOPLE MOVES: Schroders, Julius Baer, Credit Suisse…
A host of changes have been announced by Schroders, as the company adjusts to the pending retirement of its global head of distribution. Julius Baer has also had to tweak the management structure of its investment solutions group following a departure. But Julius Baer’s loss has been Credit Suisse’s gain.
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UBS wealth management sees strong inflows amid profits slump
Swiss bank UBS reported the strongest inflows to its wealth management division since 2008, although pre-tax profits were lower than analyst expectations and below last year.