All articles by John Schaffer
John Schaffer
deVere UK Launches HNW division
deVere UK, part of the deVere group, has launched a high net worth division, targeting individuals with over £1m in investable assets. The company is also expecting an increase in its business levels of up to 50% in 2016.
CXFS Awards are back for their second year
Asia’s only Customer Experience in Financial Services (CXFS) Awards are back for their second year, to recognize innovative and pioneering customer experience initiatives in the region’s financial services sector industry.
Lombard International announces expansion into Asia
Lombard International, a provider of life assurance wealth structuring solutions, announced the appointment of Tammy Lu Tsui to CEO of Asia and its intent to open two brokerage offices in Asia.
FCA ends probe into HSBC tax controversy
The FCA has ended its probe into HSBCs Swiss private banking operation surrounding the 2015 tax evasion scandal. It has been revealed that the regulator will not pursue any formal action.
Wrapping treasures offshore
Private banks and HNWIs are continually on the look out for ways to lift tax burdens, especially in a low yield environment where gains are already modest. Offshore life assurance bonds present an attractive option, enabling tax to be deferred and allowing portfolio gains to be compounded. John Schaffer finds out more about these bonds that are growing in popularity
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Foreign banks dominate in Mexico
Large foreign private banking players dominate Mexicos private banking market, catering to a relatively small population of HNWIs. A recent report from WealthInsight forecasts that there will be an increase in HNWI numbers, presenting an opportunity for the wealth management sector to flourish further
Coutts: Optimistic for 2016
Coutts released its investment outlook on 8 December, forecasting a largely positive outlook for the year ahead. However, the bank also recognised that it is becoming increasingly difficult to diversify portfolios when bond yields are so low.
Qatar First Bank launches private banking
Qatar First Bank (QFB), a Shariah compliant institution, announced on 6 December that it is to launch a private banking service. The bank is also set to list its shares on the Qatar exchange in the first quarter of 2016.
Raiffeisen acquires 10% of Avaloqs shares
Swiss banking group, Raiffeisen, is acquiring 10% of Avaloq groups shares. The move comes as Avaloq, a banking technology company, looks to expand its number of shareholders.
BTG to sell BSI, three months after purchase approval
Brazilian investment bank, BTG Pactual, is looking to sell off Swiss private bank, BSI, only three months after it received regulatory approval for the purchase of the bank.