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...This is driving consolidation in the industry as managers turn to mergers and acquisitions to bulk up, cut costs and pursue new clients or areas of growth....
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...Raiffeisen is “looking for a client manager who will attract clients”, reads another offer, from the division targeting small businesses in Russia....
...Until 2021, StanChart was subject to a deferred prosecution agreement after paying $1.1bn to settle charges from the UK and US that it helped clients dodge sanctions on Iran....
...Now headquartered in New York, it has 2.7mn subscribers across 15,000 corporate clients, including blue-chip names like Amazon, Oracle and Activision Blizzard....
...Somerset has held discussions before with potential buyers including boutique firms Emso Asset Management and Artemis....
...Schweizer claimed rivals were behind BCG on AI advisory work because the firm identified it early as a potential driver of growth....
...Of the firm’s 11,000 employees, 8,000 as well as the units’ client relationships were also transferred....
...However, we are engaging with both the FCA and industry as the proposals are developed, in particular to ensure that any potential impacts on competitiveness are properly considered.”...
...The case is the latest in a series of scandals that have exposed the discretion Swiss bankers and wealth managers typically enjoy over their clients’ assets, and the potential for abuse that follows....
...in Europe today include Portuguese oil exploration company Galp, Dutch lender ABN Amro and Swiss pharma group Sandoz: Galp Energia: Shares soared 19 per cent a day after it reported it had discovered a potential...
...Wealth manager St James’s Place has announced a £426mn provision for potential client refunds and slashed its dividend, sending shares in the group down almost a third in early trading on Wednesday....
...“You give up a lot of returns that you could have accrued for your clients,” said Elisabeth Kashner, director of global fund analytics at FactSet....
...He said the oil fund was becoming “the only company left having an opinion here” as US investors faced sceptical clients and political pressure while “we have a client that is very socially conscious”....
...The purported partner group also accused PwC of failing to “adhere to professional standards in respect of the acceptance and continuance of its client relationship” with Evergrande, the AFRC added, as well...
...Munich prosecutors are also pursuing an investigation against several EY partners who were in charge of Wirecard audits, after Apas in 2020 identified potential misconduct in a criminal complaint....
...Instead, staff at the office — whose exact location the group prefers to withhold — use screens to monitor the locations of scores of clients’ ships and track potential risks facing them....
...“We see that UK clients might trade also UK shares, but very few of our global clients would trade UK shares....
...Looking at our data, the IFC’s private sector portfolio had a low average default rate of 4.1 per cent from 1986 to 2023, suggesting the untapped potential and resilience of investments in emerging markets...
...SJP, already forced to overhaul its business model thanks to a regulatory crackdown, announced a £426mn pre-tax provision for potential refunds to its clients....
...The UK’s top financial regulator has unveiled proposals for investment advisers to be forced to set aside money to deal with the cost of potential redress schemes, ensuring the “polluter pays” when consumers...
...on a regular basis to sign confidential release agreements, restricting them from reporting potential misconduct to the SEC....
...“For several years, [JPMorgan] forced certain clients into the untenable position of choosing between receiving settlements or credits from the firm and reporting potential securities law violations to the...
...Chinese investment also created “significant potential” for mainland firms to expand in the Middle East, Latin America, and Africa, he said....
...“In a hybrid work world where demand for WeWork’s product should be greater than ever, my clients believe that the synergies and management expertise offered by an acquisition by my clients could significantly...
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