Sumitomo Mitsui Financial Group and UK banking giant Barclays said on Thursday they would jointly launch a wealth management business in Japan, targeting individuals with at least 500 million yen ($5.7 million) to invest.
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Insurer Axa has made no secret of its plans to focus on its wealth management business and exit the mature UK life assurance market.
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Swiss boutique private bank Banque Heritage has opened its first Asian office in Singapore, targeting wealthy families from around the region.
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The southern city of Shenzhen is home to the biggest number of securities companies in China. A third of fund management companies and many private equity funds are also located there. With the opening of the GEM board in the city, most are starting to expand business there.
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What will hedge funds do if large governments start to regulate their activities, tax them at higher rates, and make them disclose their holdings? Places like New York City, Greenwich, and London may find that the financial firms have “left the building”
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Offshore financial centres which have thrived under a veil of bank secrecy will have to embrace transparency to survive a global crackdown on tax cheats that is menacing the private banking sector in Switzerland and beyond.
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Secret offshore bank accounts are the stuff of legend. This article intends to debunk some of the myths about secret offshore banking by setting out what is and isn’t possible.
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Morgan Stanley will make another round of redundancies next month, affecting up to 2,000 of its 47,000 global staff.
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One of the results of the intensifying IRS anti-offshore vendetta is that offshore banks increasingly restrict or even prohibit investments by U.S. clients.
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Swiss wealth manager UBS AG is closing all the offshore accounts of its U.S. clients, the bank said on Friday, as it comes under pressure from U.S. tax authorities.
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