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CBA sells $500m Chinese life insurer stake

By: Gary Robinson | 24 May 2018

The Commonwealth Bank of Australia (CBA) has said that it is selling its 37.5% take in a Chinese life insurer to Japan’s Mitsui Sumitomo Insurance Co for…

Egypt’s economic outlook ‘fundamentally optimistic’: HSBC

By: Christopher Copper-Ind | 23 May 2018

HSBC is “fundamentally” optimistic on Egypt’s near-term outlook, the international banking group’s chief economist for Central and Eastern Europe, Middle East and Africa Simon Williams said at…

M&G to transfer £34bn of non-sterling customer assets to Luxembourg ahead of Brexit

By: Christopher Copper-Ind | 17 May 2018

M&G Investments, the asset management business of M&G Prudential, is planning to transfer £34.2bn worth of non-sterling assets from UK-domiciled funds ahead of the country’s withdrawal from…

Maurice Blackburn files against Australia’s AMP after allegations of misconduct

By: Christopher Copper-Ind | 16 May 2018

Maurice Blackburn, the Australian law firm, said on Tuesday it planned to sue AMP, the country’s biggest wealth manager and insurer, bring to five the number of…

Lombard Odier IM in high-end funds partnership with Credit Suisse AM

By: Christopher Copper-Ind | 15 May 2018

Lombard Odier Investment Managers (Lombard Odier IM) has agreed with Credit Suisse Asset Management the transfer to Lombard Odier IM of a high-conviction global equity strategy investing…

HSBC makes world’s first blockchain-based trade finance transaction

By: Christopher Copper-Ind | 15 May 2018

HSBC, one of the world’s largest banking and financial services companies, announced yesterday it had performed the first commercially viable trade finance transaction using blockchain technology anywhere…

HSBC Singapore launches fast online-only life insurance platform

By: Christopher Copper-Ind | 15 May 2018

HSBC Insurance (Singapore) has announced the launch of HSBC Insurance Online – offering one of the fastest online insurance application processes in Singapore. HSBC Insurance Online is…

FCA fines Barclays CEO for attempting to expose whistleblower

By: Christopher Copper-Ind | 11 May 2018

The UK’s Financial Conduct Authority (FCA) and Prudential Relegation Authority (PRA) have jointly fined the CEO of Barclays £642,430 for his mishandling of a whistleblower at the…

Australian banking regulator has funding cut despite sector scandals

By: Christopher Copper-Ind | 10 May 2018

The Australian Securities and Investments Commission (ASIC), the country’s corporate regulator, has been told its current funding is to be cut over the next four years, at…

Bank of London and the Middle East opens in DIFC

By: Gary Robinson | 09 May 2018

The Bank of London and the Middle East (BLME), a leading provider of Islamic finance in Europe has announced the opening of a branch in the Dubai…

Union Investment wins against US scandal bank

By: Ridhima Sharma | 08 May 2018

The fund provider Union Investment, has received $480m in damages from shareholders in a settlement lawsuit against Wells Fargo. The settlement amount is well above the amount…

UBS in landmark Chinese financial services majority holding JV bid

By: Gary Robinson | 08 May 2018

China’s president Xi Jinping’s promise of greater financial services freedoms in insurance and asset management has begun with UBS Group AG submitting an application to become the…

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