China credit card crackdown hits insurer shares
China’s reported crackdown on capital outflows by restricting the use of a major credit card to purchase insurance products in Hong Kong hit shares of some of the region’s top insurers on Wednesday.
Companies
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China sets new rules for insurance companies
China’s foreign exchange regulator has officially implemented a new capital and risk regime for insurance companies, according to the Chinese news agency Xinhua.
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PA ANALYSIS: Where does Richards´ departure leave Aberdeen?
Probably the only people who would be willing to trade places with Aberdeen Asset Management CEO, Martin Gilbert right now are his peers in the mining sector.
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Old Mutual narrows international focus, buys expat adviser
Old Mutual Wealth has today signed an agreement to buy the Singapore-based expat-focused financial advisory firm AAM Advisory as part of its plans to concentrate the Old Mutual International business on only two core markets in North/SE Asia.
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Barclays bids for TD Direct, could rival Hargreaves Lansdown
Barclays has emerged as a potential buyer of TD Direct Investing, one of the biggest retail stockbroking businesses in the UK, in a move that could create a challenger to current market leader Hargreaves Lansdown.
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Ex-Hargreaves trio launch high-net-worth investment service
Former Hargeaves Lansdown executives, Alex Davies, Ben Yearsley and Marta Caricato have announced the launch of a new investment service for high-net-worth investors.
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LGIM’s early unbundling of research costs applauded
Legal & General Investment Management’s (LGIM) decision to change the way clients are charged for research ahead of the Mifid II deadline has been applauded by the co-founder of investment firm SCM Direct.
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RLAM protests Sky’s Murdoch reappointment
Royal London Asset Management has issued a condemnation of Sky’s decision to reappoint James Murdoch as chairman.
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Deutsche AWM posts growth as bank struggles
Despite recording its first net asset outflow for seven quarters, Deutsche Asset and Wealth Management outperformed the rest of the group; achieving net revenue growth of 14.2% in the fourth quarter, against a decrease of 15.2% for Deutsche Bank Group over the same period.
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Aberdeen chairman to depart as outflows continue
Aberdeen Asset Management’s Roger Cornick is to retire as chairman and non-executive director at the end of this financial year, 30 September 2016.
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Brewin reports record Q1 inflows
Brewin Dolphin has reported record Q1 discretionary inflows of £600m spread across its channels.
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Brooks Macdonald’s discretionary funds climb 5.5%
Brooks Macdonald Group has reported its discretionary funds under management rose 5.52% for the half year to 31 December versus the same period in 2014.
