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

Delegated Act for Bermuda Solvency II Equivalence published

The EU Parliament has three months to provide objections (with a possible extension of a further three months)

Fitch: Italian Resolution Approach is Costly for Banking Sector

The resolution plan approved by the European Commission for four failed local banks on 22 November 2015 will be costly for Italy’s banking sector, says Fitch Ratings.

Profile: why Tcam's bosses bought themselves out of Turcan Connell

Last month, the duo led a management buyout of Turcan Connell Asset Management that received the backing of renowned hedge fund manager Crispin Odey.

FCA fines Barclays for poor handling of financial crime risks

The failings relate to a £1.88 billion pound transaction (Transaction) that Barclays arranged and executed in 2011 and 2012 for a number of ultra-high net worth clients. The clients involved were politically exposed persons (PEPs) and should therefo

Leading law firms merge as quest for legal market domination continues

It combines complementary expertise of two leading law firms to create a market-leading client-focused business

Gleiss Lutz appoints new managing partners

In addition to their management duties, Michael Arnold and Alexander Schwarz will both continue to be fully involved in regular casework.

Maclays plays down rumours of merger with Addleshaw Goddard

MMS also played down the rumours.

Dubai hedge fund 'to close' amid suspicions of Danish tax fraud

A three-month hunt was launched this summer and already around $250 million of assets has been seized in raids in the UK, the Wall Street Journal said.

Largest law firm in the world continues international expansion with Luxembourg tie-up

It has announced that it will further its leading presence in the world's top financial centers with a combination between Dentons Europe LLP and Luxembourg's OPF Partners.

Dechert expands M&A Team

He focuses his practice on corporate finance matters, with an emphasis on public and private M&A, takeover bids and international capital markets, most notably equity capital markets

Redundancy whispers in UBS’s London M&A team as recruiters warn lack of mid-ranking jobs

Is UBS about to quietly part company with some of its mid and senior-ranking M&A bankers?

Dealmakers Advise on £45M Atom Bank Investment

The deal brings total funds raised by Atom to £135m in the 18 months since the founding team came together.

European PE Managers’ Bid to Raise Disclosure Standards

Trade body Invest Europe has brought out fresh guidelines for its members to improve transparency in the private equity sector.

Greek shipowners talk up their role to protect tax breaks

The magnates who run one of the biggest merchant marine fleets in the world have long argued that if Greece tried to tax them

EBRD to become 30 per cent shareholder in Raiffeisen Bank Aval

Bank to sign new capital in leading Ukrainian universal bank

Challenger banks angry with CMA proposals

It comes after the CMA published provisional findings of its probe into the banking industry in October.

Russia central bank withdraws licences from four banks

The four were Moscow-based Baltica Bank, Svyaznoy Bank and Nota-Bank, and Samara-based Ipozembank.

HMRC to launch consultation on extending PSC register

Update - HMRC has announced that it will launch a consultation on extending the PSC register to include information on controlling persons in non-UK companies investing in high value UK property. The level of detail to be held is unclear at present.

LPAs, authorising use of discretionary investment management -Withers

The most significant change to the guidance is the addition (on page 28) of suggested wording for inclusion in a financial LPA where the donor wishes to authorise attorneys to delegate investment management decisions to a discretionary investment manager

LPAs, high net worth individuals by Withers

In the recent case of XZ [2015] EWCOP 35 Senior Judge Lush of the Court of Protection criticised the Public Guardian for refusing to register an LPA for property and financial affairs of an international high net worth individual.

Legal, Regulation & Compliance