A French prosecutor has called for HSBC to stand trial for helping clients hide more than €180bn (£161.3bn, $199.8bn) in offshore tax havens from the country’s tax authorities, French news agency AFP has reported.
French asset management firm Amundi has confirmed its interest in buying Pioneer Investment from Italian bank UniCredit but denied the €4bn (£3.6bn, $4.4bn) bid offer reported in the media.
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.
Led by China, Asia created one billionaire nearly every three days and accounted for over half of new billionaires in 2015 despite global billionaire wealth declining last year by $300bn to $5.1trn (£4.2trn, €4.6trn), according to a joint UBS Group and PwC report.
Christopher Byrne, the founder and managing director of Jersey-based IFA firm Lumiere Wealth, has been arrested in connection with the firm’s ties to the Guernsey-registered Providence funds.
With gold having been one of 2016’s most popular defensive strategies against persisting low returns and the struggle for income, Legal & General Investment Management’s multi-index fund range manager Justin Onuekwusi outlines four alternatives to gold for the post-Brexit world.
BNP Paribas Investment Partners has launched its first multi-asset income fund focusing on emerging markets.
Two-thirds of recent UK retirees who took cash from their pension pots during their first year of retirement did so without seeking any professional advice.
Deutsche Bank chief executive John Cryan has “made it unambiguously clear” that Deutsche Asset Management is still a core part of the business and is not being sold.
Four MassMutual affiliates have been merged under the Barings brand to create one of the world’s largest asset management organisations with AUM of more than $275bn (£207bn, €245bn).
With a date of 23 November now set for chancellor Philip Hammond’s first autumn statement, AJ Bell senior analyst Tom Selby has outlined five questions Hammond needs to answer when he takes to the despatch box.
Global ETF provider Invesco PowerShares has listed its US high yield fallen angels Ucits ETF on the London Stock Exchange, which tracks bonds that have been downgraded from investment to high yield.
