ANZ Bank is considering selling its life insurance, advice, and superannuation and investments businesses in Australia which would see one of the country’s largest financial institutions effectively withdraw from the wealth management sector.
Wealth management firm Meyado is to see a change at the top after Singapore chief executive Mark Paine announced plans to buy out the shares of the group’s founder and chairman Martin Young.
The trend of banks offloading assets continues as Singapore-based DBS acquires ANZ’s WM and retail units in Asia, adding S$23bn ($16.5bn, £13.5bn, €15bn) of wealth assets, which includes S$6bn from high net worth individuals.
The Malaysian-based wealth management firm, Farringdon Group, said it plans to launch Asia’s fist Shariah-compliant robo-adviser in December.
With Credit Suisse ending direct client coverage out of the Channel Islands, the Swiss bank has set up a wealth management firm with local financial service provider Stenham Group, that will act as an external asset manager (EAM) for the bank regionally and elsewhere.
US-headquartered SEI is to close its office in the Dubai International Financial Centre next month and will service its Middle East clients from London.
UK-based fund manager Neptune Investment Management is to launch a discretionary fund management business in partnership with Raymond James Investment Services under the moniker Equester Capital Management.
Schroders-owned Cazenove Capital Management is to acquire C. Hoare & Co’s wealth management business, with the deal set to complete in Q1 2017.
Faced with an increasing pressure on margins and the cost of regulatory compliance, EY gives five tips on how wealth managers can change their business models to weather the storm of digital disruption.
The Financial Conduct Authority (FCA) has said it intends to ban former chief operating officer of Barclays Wealth and Investment Management Andrew Tinney.
A self-confessed equities man, David Loudon is relishing his new role as chief executive officer at Quilter Cheviot, and has great expectations for wealth managers as the consolidation wave crests.
UK-based discretionary fund manager Rowan Dartington, which is part of St James’s Place, has launched a new division to extend the group’s services to English-speaking advisers around the world.
