UBS Group is overhauling its wealth management businesses in Europe and emerging markets (EEM) by reducing its booking hubs to three from around 10 and has announced a senior management restructure.
Self-invested pension provider Curtis Banks has been criticised by the UK Pensions Ombudsman for negligence and maladministration.
There is no prospect that Isle of Man-based Premier Group will receive any of the £39m ($50.6m, €44.4m) the company is owed by a waste management company it funded through its New Earth Group collective investment schemes.
Vanguard has created a new head of European distribution (ex-UK) role, while Middle East bank Emirates NBD has lost its chief investment officer for the second time. VAM Funds has hired an ex-Zurich heavy hitter to make a Middle East push.
European equities have been in the spotlights for a while, and finally interest is translating into real flows, according to Morningstar data. But there is a caveat to the optimism, which manifested itself last week.
The UAE ambassador to the US has been caught up in the international scandal involving Malaysian sovereign wealth fund 1MDB, after reports that companies connected to him received millions of dollars allegedly stolen from the fund.
A man disqualified from working as a director in the UK has been charged with fraud by the US Securities and Exchange Commission (SEC) for misleading investors in a $37m (£28m, €32m) scam.
A former IFA, an accountant and two film producers have been ordered to repay more than £2m ($2.6m, €2.3m) that they scammed from investors in a film tax fraud.
Most UK fund managers fear the government has no idea what the asset management industry needs from Brexit to secure a good deal, according to research by consultancy MJ Hudson.
Alternative investments from aircraft leasing to renewable energy are still an attractive option for multi-asset funds, despite fears the asset class is approaching bubble territory, says Kames Capital’s senior multi-asset investment specialist, Nick Edwardson.
Insurance companies across the Asia Pacific region face a growing gap between investment returns and meeting the promises made to customers, according to a survey released by Standard Life Investments (SLI).
Australia-headquartered financial services provider Link Group is to acquire internationally focused Capita Asset Services for £888m ($1.1bn, €1bn).
