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

Royal London to sell direct platform and refocus on advisers

Fundsdirect to be put up for sale as parent plots non-advised service for intermediaries.

Raiffeisen may take Mideast fund as partner, CEO says

Austria's Raiffeisen Bank International would consider taking a Middle Eastern wealth fund as a major investor to meet new capital requirements,

Morningstar drives greater fund disclosure

Since last month, where fund managers are not explicitly identified, Morningstar longer offers the option of reporting the management of the fund as ‘team managed’, but will instead report this information as ‘not disclosed’.

Aon Q2 Profit Matches Street

Risk and insurance brokerage service provider Aon Plc posted lower second-quarter net income attributable to shareholders from continuing operations of $241 million

Emerging Markets Increase Gold Reserves

Central banks in a number of emerging market countries continued to increase their gold reserves

German bank sells unit to BNP

Germany’s second-biggest bank, Commerzbank, is to sell its Depotbank investment unit managing funds worth 93 billion euros to BNP Paribas

Commerzbank sells funds business to BNP Paribas

Commerzbank has reached an agreement with BNP Paribas on the sale of its 'Depotbank' business.

AIMA/EY survey finds mixed progress towards AIFMD transposition

At least five Member States are known to have made little or no progress towards drafting or finalising the required legislation.

Royal Bank of Canada shuts European government bond business

Royal Bank of Canada shut down its European government bond trading business on Wednesday

Euroclear CSDs in Belgium, France and the Netherlands commit to T+2 settlement period

Three of Euroclear’s central securities depositories - Euroclear Belgium, Euroclear France and Euroclear Nederland

London: Where Only The Wealth of a Global Elite can Find a Home

The capital's Super-Prime Property Market Has Been Bought up by Foreign Investors Who Are Exacerbating the Housing divide

Tatton Capital acquires Prism Capital Management

Prism, which has £270m of assets under management, was launched in 2009 as a joint venture arrangement between Paradigm, Octopus Investments and a group of adviser firms

NBAD seeks Europe expansion with $1b debt plan

NBAD-Paris is growing and has more and more assets in France

Peugeot Considering Unloading Part of Banque PSA

Battling to stem bleeding cash, French auto maker PSA Peugeot-Citroën is in preliminary talks with Spain's Banco Santander SA

FinecoBank launches service for asset protection and tax efficiency

CoreUnit is thought to provide higher level of tax efficiency on FinecoBank's multi-brand platform

Quilter Cheviot to Boost Intermediary Offering

The merger of investment firms Quilter and Cheviot Asset Management will help the company focus more on the structure and management of bespoke portfolios

Wealthy buyers returning to French property market due to tax clarifications

Clarification surrounding the taxation of luxury property in France has been welcomed by overseas buyers who are starting to return to the market

NBAD Launches1 billion euro French CD Program

The multi-currency CD is issued under the STEP

HSBC shuts adviser-facing retirement savings arm

Closure comes as part of larger wealth management restructuring which has led to hundreds of redundancies.

Grosvenor purchases City office at 5.9%

Grosvenor Fund Management has acquired Fleet Place House in the City of London financial district.

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