Properties in Dubai owned by convicted fraudsters are among over half a billion pounds worth of property and cash criminals are refusing to pay back to the UKs Criminal Prosecution Service, it has been revealed.
Blacktower, the UK- and Gibraltar-based advisory group which specialises in looking after expatriates living in the Iberian peninsula and France, has set its sights on Italy for the first time, and is opening an office this month in Rome.
Société Générale Private Banking has promoted Jean-François Mazaud to the role of head of the private banking business.
One of Malaysias largest investment management companies, Hwang Investment Management, has announced plans to grow its assets to myr20bn within the next five years.
The Luxembourg Parliament has this week adopted a new law which tightens the regime regulating specialised investment funds.
The States of Guernseys House of Deliberation has waved through proposed legislation that would provide a new regime for QROPS, paving the way for final approval within the next three weeks, Guernsey sources told International Adviser yesterday evening.
The founder and a former executive director of Styland Holdings, a Hong Kong financial services conglomerate, have been ordered to pay the firm a combined total of more than HK$85m, as compensation for entering into a number of transactions which were not in the companys interests.
BlackRock’s Daniel Tubbs has left the firm to pursue other opportunities, with new hire Luiz Soares stepping up to head the firm’s fundamental equity emerging markets team.
Dean Waddingham, managing director for the past three years of what is still known to many in the offshore life insurance industry as Clerical Medical International, has joined NFU Mutual, which specialises in providing insurance products to Britains rural communities, as client services manager.
Total new business sales of UK distributed offshore bonds last year came in more than 7% below 2010 levels, after what industry experts said was a difficult 12 months for those in the business of marketing these popular and tax-efficient long-term investment products.
Axa will acquire HSBCs property and casualty businesses in Hong Kong, Singapore and Mexico, the firm announced today. The French insurance giant has also signed an exclusive ten-year P&C bancassurance deal with HSBC in these countries, as well as in India, Indonesia and China.
Former Gartmore director Charles Beazley has been announced as the replacement for Nikko Asset Management’s chairman and CEO, Timothy McCarthy, who is retiring at the start of April.
