US banking group pays $3bn to settle fake accounts case
This includes a $500m ‘fair fund’ for the benefit of investors ‘harmed’ by its conduct
Wells Fargo
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US in the news: Wells Fargo makes wealth CEO change
A round-up of the latest people moves and M&A deals in North America
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Wells Fargo to pay $79m in settlement to advisers
After class action alleged he had been cheated out deferred compensation Written by Bruce Kelly
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PEOPLE MOVES: Generali Insurance AM, Rathbones IM, Pimfa
Changes at the top for the Italian insurer, Rathbones names Jersey investment director
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Tech will not replace advisers, say 84% of US investors
Survey finds only 24% currently use automated investing technology for their own investing
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Wells Fargo AM launches global equity absolute return fund
Wells Fargo Asset Management has launched a Ucits-compliant global equity absolute return fund.
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PEOPLE MOVES: Franklin Templeton, Axa, FCA
Franklin Templeton appoints a lead manager for emerging markets team, Axa IM launches a business development department and the Financial Conduct Authority appoints an executive director of international to oversee Brexit developments.
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PEOPLE MOVES: Wells Fargo, PwC, LJ Partnership
PwC appoints an asset management tax partner, Wells Fargo nabs staff from Schroders and BlackRock, while LJ Partnership names a managing director.
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Wells Fargo AM launches US high quality credit fund
Wells Fargo Asset Management has launched a US dollar investment grade credit fund, which is part of its Worldwide Luxembourg Ucits fund.
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PEOPLE MOVES: Standard Life, Quilter Cheviot, Crowe CW
Standard Life’s chief executive for UK and Europe Pensions and Savings is to retire, with Quilter Cheviot’s chief executive announcing similar plans. Audit, tax and advisory firm Crowe Clark Whitehill sadly announced on Friday that its national head of private clients has died.
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Wells Fargo adds US small cap and equity Ucits to range
Wells Fargo Asset Management has launched two Luxembourg-domiciled Ucits funds: the Global Focused Equity and US Small Cap Value funds.
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PEOPLE MOVES: Aviva UK Life, Axa IM, Wells Fargo AM…
Aviva UK Life has promoted from within to fill the chief financial officer role that will be vacated by John Lister when he retires in September. Axa IM is bolstering its EM division with a new head of EM fixed income, while Wells Fargo AM has poached an executive VP from SSGA who will lead…