Vestra to be majority owned by Switzerland’s LGT
Vestra Wealth is to become majority owned by Swiss wealth manager LGT after it struck a deal to acquire shares in the business from Vestra’s external investors.
Companies
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Old Mutual to break into four new businesses
South African financial services group Old Mutual has decided to break up its business into four separate units as it believes they will perform better independently.
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Generali Investments targets global asset mgt market
Generali Investments, the asset management arm of Italy’s Generali Group, has announced plans to set up an office in London to support expansion plans for its third-party business with institutional clients and private wealth managers.
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Regulation, ISAs drive strong growth in SEI Wealth Platform flows
SEI’s UK private banking business reported a 30% jump in net flows through its wealth platform in 2015, the firm said on Thursday.
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Aviva Investors reports £5bn outflows but AUM leaps
Aviva Investors recorded £5bn in outflows for 2015 but its assets under management leapt £44bn to £289.9bn, largely due to the integration of Friends Life.
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Barings to become giant global fund after MassMutual mergers
MassMutual, a major US-based mutual life insurance company, has announced a $260bn (£183bn) merger of four asset management affiliates which will be combined under the Barings brand.
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Prudential shares climb despite M&G outflows
Prudential shares rose over 4% to 1383p as the company put out strong full year numbers.
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Old Mutual considering break-up options
Speculation is growing that Old Mutual, the global financial services group, may be about to announce plans to break up its operations into four new units.
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Alliance Trust raises dividend after turbulent year
Alliance Trust announced it is raising its dividend as it released its full year results this morning.
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Wealth Manager M&A hits highest level since 2009
Wealth management merger and acquisition (M&A) activity reached its highest level since the recovery from the global financial crisis began, according to a report by Scorpio Partnership.
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Schroders announces board shake-up
Schroders has announced chief executive Michael Dobson will step down on 4 April and be replaced by Peter Harrison.
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Distribution Technology unveils digitally supported advice offering
Distribution Technology has announced its intention to enter the digitally supported advice market.
