Companies Financial News

05.12 / 14:51

US companies Us Treasury Fine Pictet to pay $123m for 'hiding' $5.6bn in offshore accounts

Pictet was accused of setting up 1,637 secret bank accounts in Switzerland on behalf of US taxpayer clients, which enabled them to evade $50.6m in taxes between 2008 and 2014.

04.12 / 15:32

acquisitions companies AssetCo rebrand River and Mercantile rebrands to River Global

Alex Hoctor-Duncan (pictured) is the CEO of River Global, formerly River and Mercantile.

04.12 / 15:31

companies emerging markets St James's Place Somerset Capital loses two-thirds of assets as SJP severs ties - reports

Somerset went from managing $3.5bn in assets at the end of October to about $1bn, after SJP transitioned about £2bn away from Somerset on 20 November.

01.12 / 13:23

companies Acquisition VCTs/EIS vct Maven Capital Partners expands EIS offering with acquisition of Newable Ventures

The acquisition will boost Maven’s plans to expand its activities into direct Enterprise Investment Scheme investments.

30.11 / 13:37

companies Rathbones Investec W&I Rathbones Unit Trust Management rebrands to Rathbones Asset Management

Tom Carroll (pictured), took over as CEO of Rathbones' funds business from Mike Webb, who is set to retire at the end of this year after 14 years in the position.

30.11 / 13:37

companies financial conduct authority London Stock Exchange Metro Bank Metro Bank to axe 20% of staff as part of cost-cutting drive

A £10-15m one-off restructuring charge is expected in 2023, which is lower than previously anticipated, the firm added.

30.11 / 09:43

companies Foresight Group infrastructure Foresight Foresight Group AUM ticks up as capital management arm suffers

While Foresight Capital Management shed 27% of its AUM falling by £348m to £1bn, the firm's infrastructure arm saw AUM rise 4% to £9.8bn, while its private equity arm's AUM rose 2% to £1.4bn.

30.11 / 09:43

regulation companies Financial Services Wealth managers financial conduct authority FCA PRA Allfunds authorisation regulatory Allfunds receives UK regulatory authorisation

The move has been made in anticipation of the end of the Temporary Permissions Regime for UK branches of European Economic Area-regulated firms.

29.11 / 12:20

regulation companies FCA Odey AM Odey Asset Management Odey Brook Asset Management authorisation Odey AM applies to cancel FCA authorisation

Odey AM has been authorised to conduct regulated activities by the FCA since November 2002.

29.11 / 12:20

Jefferies companies emerging markets Ashmore Jefferies upgrades Ashmore Group to 'Buy' on returning EM investor appetite

Jefferies said Ashmore was 'well-positioned' to benefit from more constructive sentiment and favourable flow trends as terminal rates come into view.

29.11 / 09:38

companies ESG Impax suffers net outflows despite strong performance

The firm’s Environmental Markets strategies suffered large outflows, losing £1.7bn, largely due to redemptions from the firm’s distribution partners such as BNP Paribas Asset Management.

28.11 / 11:59

Stablecoin companies central bank digital currency tokenisation Tokenbridge launches tokenisation platform for fund managers

The Tokenbridge platform has several features the company believes are set to “remake the investment landscape”.

28.11 / 11:59

property companies jp morgan Julius Baer to review private debt arm following 'European conglomerate' bankruptcy

In a stock exchange notice, the group revealed, without naming Signa, that it possessed three loans to different entities within 'a European conglomerate' that was now restructuring, totalling CHF 606m (£545.4m).

23.11 / 15:38

companies Abrdn liontrust FTSE 100 FTSE fall Hargreaves Lansdown set to fall out of FTSE 100

Hargreaves Lansdown will likely be replaced by £4.6bn Intermediate Capital Group, a private equity investment firm, as the firm’s stock has fallen 19.2% this year, while ICG’s has risen 34.2%.

23.11 / 08:39

companies Investment trusts Hipgnosis Songs Fund song Investment Trust Hipgnosis Music Limited takes SONG and Mercuriadis to High Court

Merck Mercuriadis (pictured), founder of Hipgnosis Songs fund (SONG), has been served court proceedings but his former company Hipgnosis Music Limited.

22.11 / 12:51

companies Acquisition stake acquires Amber River acquires majority stake in TAM Asset Management

Amber River said the asset manager will also continue to work with adviser businesses outside of the group post-acquisition.

21.11 / 11:21

BlackRock companies Unit trusts/OEICs BlackRock closes EM fund following poor value assessment findings

According to its June 2023 factsheet, the fund had been underperforming for a few years, although had mostly tracked its benchmark.

20.11 / 15:23

fees companies Unit trusts/OEICs St James's Place place St James's Place changes managers and reduces fees for two funds

The Balanced Managed fund will reduce fees from 0.36% to 0.34% per annum, while the Continental European fund from 0.26% to 0.08%.

20.11 / 11:51

companies Aum outflows Polar Capital suffers £581m outflows as profits slump

Gavin Rochussen (pictured), CEO of Polar Capital

20.11 / 09:41

UK companies CCLA launches modern slavery benchmark for UK listed company investors

Martin Buttle, Better Work lead at CCLA, said investors are in a “strong position” to contribute to ending modern slavery in businesses.

17.11 / 09:54

companies People moves WH Ireland names chair as trio of non-executive directors step down

CEO Phillip Wale said he was looking forward to working with Moore and Stran as the firm focused on the next stage of its development.

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