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Offshore outposts of RBS’s asset financier Lombard closing to new biz

By: Helen Burggraf | 16 Aug 2017

The Gibraltar and Crown Dependency offices of the UK’s largest asset financier, RBS-owned  Lombard Finance, are closing to new business, the company has announced. Lombard will, however,…

Now it’s Swiss expats who are struggling to keep their homeland accounts

By: Helen Burggraf | 15 Aug 2017

For years, American and British expatriates have complained of the difficulties they’ve faced in trying to keep bank accounts back in their home countries. Indeed, the problem…

New regs mean range of UK businesses now risk fines for not reporting ‘sanctioned’ clients

By: Helen Burggraf | 11 Aug 2017

New regulations that have now come into force mean that a range of businesses and professions could face significant financial penalties if they don’t inform the UK…

Singapore regulator consults on raising bank depositors’ compensation

By: Helen Burggraf | 09 Aug 2017

The Monetary Authority of Singapore is seeking industry and public comment on a plan to raise to S$75,000 the amount of compensation account-holders whose wealth is held…

Deutsche Bank drops out of top 15 in global private bank rankings

By: Gary Robinson | 07 Aug 2017

Deutsche Bank has dropped out of the world’s top 15 private banks in 2016, according to rankings by wealth management researcher Scorpio Partnership. In what has been…

Major Dubai, Singapore banks expanding into new markets

By: Helen Burggraf | 27 Jul 2017

The Dubai Islamic Bank has revealed plans to expand in East Africa, once it settles into its new base in Kenya, where it obtained regulatory permission to…

‘Billionaire-backed’ Hong Kong firm poised to build wealth biz ‘from scratch’

By: Helen Burggraf | 25 Jul 2017

A Hong Kong financial firm backed by Chinese property tycoon Hui Wing Mau “is poised for an acquisition spree as it seeks to build an offshore wealth-management…

Jersey’s Harris warns of potential knock-on effects to Jersey of Brexit’s impact on UK

By: Helen Burggraf | 21 Jul 2017

John Harris, director-general of the Jersey Financial Services Commission, has told a recent Institute of Directors gathering that although Jersey’s financial services industry is “doing well” at…

RBS to pay US$5.5bn fine over US mortgage-backed securities

By: Gary Robinson | 13 Jul 2017

The Royal Bank of Scotland Group has reached a US$5.5bn settlement with the US’s Federal Housing Finance Agency regarding its long-running US residential mortgage-backed securities claims The Royal Bank…

Comments spark fresh concerns for London’s future as EU’s finance hub

By: Helen Burggraf | 12 Jul 2017

Comments emerging from a European banking conference taking place in Paris over the last two days have sparked fresh concerns about whether London will be able to…

Northern Ireland’s Davy buys part of Danske Bank’s wealth biz

By: Adrien Paredes-Vanheule | 11 Jul 2017

Davy Private Clients (UK), the Northern Irish wealth management company, has acquired part of Danske Bank’s discretionary portfolio management wealth business. The deal involves the transfer of the…

PEOPLE MOVES: Axa Asia, Sanne, Premier Assurance

By: International Investment Staff | 28 Jun 2017

Axa Asia Etienne Bouas-Laurent, Axa Asia Life’ s chief executive, has been named as chief executive of Axa Hong Kong. As of September 1 2017, Bouas-Laurent will take…

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