- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Blame-game tactics applied over AIFMD

European Commission ignores advice and points the finger, says administrator

Shearman senior partner quits firm to head up Citi's legal team

Weerasinghe replaces the US investment bank's general counsel Michael Helfer, who is taking on the new role of vice chairman after nine years in the GC position.

Aegon, Standard Life to pay redress over Sipp transfers

Although the ombudsman said Standard Life was responsible for the error, Mr Hearn’s advisers were given enough information to realise it had happened and therefore could reasonably have mitigated any loss, according to the determination.

EU to open investigation into sale of Dexia bank in Luxembourg

Last October, the governments of France, Belgium and Luxembourg reached agreement on the dismantling of Dexia.

SEC hits Pentagon with biggest fine on foreign group‎

The hedge fund of a Conservative Party donor has been fined $98 million for market abuse.

Hedge fund fury at Brussels directive

The row has been triggered by the circulation of a 110-page EC draft text of "supplementing rules" aimed at enforcing the directive.

FSA cracks whip at dawn for enforcement

Steven Francis, regulatory partner at RPC, said the high number of dawn raids is evidence of the FSA’s increased focus on more conspicuous and heavy-handed enforcement exercises since the start of the credit crunch.

RSM Tenon and PwC in legal battle over flawed accounts

According to The Times Tenon has called in lawyers who have raised ‘serious concerns’ about the quality of PwC’s audit, and advised the management team that they may have a claim against their fellow accountants.

Merkel to Forge Ahead on Tax Treaty as Switzerland Seeks Arrests

“We have a situation in which two neighboring states, Germany and Switzerland, have a differing legal assessment of the same development,” Seibert told reporters. “For situations like this one, a treaty would establish legal certainty.&r

Top JP Morgan banker resigns over £450000 fine for market abuse

The FSA believes that the size of the proposed fine reflects the serious nature of the market abuse and should act as a deterrent to other market participants.

Italy's Lombardy settles UBS derivatives dispute

No financial details were given as the parties cannot disclose details until the contract is signed.

Alan and Gina Miller - the husband and wife team shaking up the investment industry

Multi-millionaire Alan Miller, the original 'Mr Hedge Fund’, and his wife believe the investment industry is failing clients.

SJ Berwin fills Angel's non-exec role with ex-UBS banker

He joins the firm in the position previously held by former Linklaters managing partner Angel, who quit the City firm last year to join DLA Piper as senior partner

Burges Salmon promotes seven to partner in biggest-ever round

Burges Salmon has announced the largest round of partner promotions in its history, with seven associates joining the ranks on 1 May.

Banks Hold $1 Billion in MF Global U.K. Cash, KPMG Says

The figures relate to unsegregated client accounts, which MF Global was allowed to mix with its own funds and which have proved difficult for the administrators to recover.

Essex Court barrister seals victory for JPMorgan in mistaken salary claim

Ciumei was instructed by Allen & Overy partner Stefan Martin to defend the claim, which was launched by Switzerland-based commodities trader Kai Herbert.

Allen & Overy welcomes 23 to its partnership

Allen & Overy today announces 23 promotions to partner across 14 offices in 12 countries. Nearly 40% of new partners are female and, for the fifth year running, the majority (73%) are based outside London, underlining Allen & Overy's commitme

JPMorgan Banker Gay Divorce From Stage Star Sets U.K. Precedent

“If this were a heterosexual marriage, and he were the female partner married to a wealthy City trader, he would have walked away with a considerably greater sum,” Matt Baldwin, a spokesman for Gallagher’s law firm Boodle Hatfield, said

FSA needs to stop barking and bite down on swaps scandal

It is time that Parliament took up the cause to help reveal the extent of the problem and win redress for customers.

FSA fines IFA £95k for mortgage fraud

The false information related to income declarations, residential and employment details and information about the purpose of the mortgage, said the FSA.

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