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

European Council adopts EU-wide whistleblower protection rules

Businesses and local authorities across the EU will need to establish whistleblower processes to comply with the new requirements.

Irish Budget 2020 - A Roadmap for Irish and International Business

The annual Irish Budget provides a platform for the Irish Minister for Finance to announce tax changes and also to take stock of Ireland's economy and strategy for future growth.

Failings on client funds safeguarding jeopardise fintech growth

The FCA's attestation form was aimed at ensuring "there is clear accountability and senior management focus on those specific issues where we would like to see change within firms".

SJP ‘not in talks’ with FCA about charging structure

The call, leaked to the Sunday Times, suggested SJP managing director Ian Gascoigne expressed concerns that the FCA would likely want to examine the firm’s use of early withdrawal charges further.

Ex Barclays finance chief would have faced charges over Qatar rescue, trial hears

The high-profile trial revolves around undisclosed payments to Qatar as Barclays raised more than 11 billion pounds from the Gulf state and other investors to avert a state bailout as markets roiled in the global credit crisis.

Equatorial Guinea signs Lusophone Compact: new milestone in initiative to accelerate sustainable private sector development

The Portuguese Government has allocated Euro 400 million in guarantees and other risk sharing mechanisms in the 2019 national budget to support the implementation of the Compact

Spanish manager Esfera Capital partners with HAMCO Financial to launch global equity fund in Spain

The Fund is managed by the Spanish manager Esfera Capital, advised by HAMCO Financial, and led by the fund manager John Tidd, who has over 20 years' experience in the management of alternative investment products non-domiciled nor registered in Spain

Danske Bank stops hiring new staff amid higher compliance costs

The bank said in February it would spend up to 2 billion Danish crowns ($295 million) to step up anti-money laundering efforts, such as improving IT systems and hiring compliance staff.

UK/Irish agreement gives ‘glimmer of hope’ to Brexit

The so-called Irish backstop issue had been a source of frustration throughout the Brexit discussions over how to handle the land border between the Northern Ireland, which would leave the EU, and Ireland, which would remain part of it.

EU approves Greek bad loan scheme

“The European Commission has found Greek plans aimed at supporting the reduction of non-performing loans of Greek banks to be free of any state aid,” the Commission said in a statement.

AllianceBernstein signs distribution agreement with Banca Generali to expand across Italy

Banca Generali will also distribute AB's Luxembourg domiciled funds through its open architecture platform.

Suspect in Operation Dirty Oil moving €2.8 million to wife’s offshore company

Gordon Debono’s wife used Cypriot court to enforce two 2017 loan agreements for €2.8 million to trafficking suspect, using offshore companies

Regulators Reject Qatar-Backed Deutsche Bank Board Member

Deutsche’s regulators - the European Central Bank and financial markets watchdog BaFin - have now determined that Zeltner’s position on Deutsche’s board would be a conflict of interest because he is also the chief executive officer of KB

Ex-Barclays bosses worried about jail risk of £322m Qatar deal, court hears

Prosecutors claim defendants knew payments in fundraising operation may be illegal

Netherlands Begins Consultation On Tax Blacklist

Furthermore, as from July 1, 2019, the Dutch tax authorities will no longer issue tax rulings to companies which are established in a listed jurisdiction.

Whisky & Wealth Club Expands Into Scotch Whisky With Historic Distillery Partnership

The company’s first Scotch partnership is with 202-year-old Bladnoch Distillery situated in the Scottish Lowlands.

Citi seeks ‘superstar’ bankers in bid to become number one in Europe

Citi wants to leapfrog rivals JPMorgan and Goldman in Europe and close the gap in its home US market, says London-based Manolo Falco

FCA fines broker £15.4m for serious conduct failures

Following an FCA investigation, the FCA found that, between 2008 and 2010, Tullett Prebon’s Rates Division had ineffective controls around broker conduct.

Deutsche Bank board member faces likely veto by regulators

ECB and BaFin raise conflict of interest concerns over Jürg Zeltner’s other job as KBL chief

S&W begins process of recovering £1bn from failed DFM

Reyker provided custody and dealing services to around 15,000 retail and institutional clients.

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