Falcon Bank
PEOPLE MOVES: Zurich, Wellington Management, Kleinwort Hambros
Insurance giant names UK chief executive, while investment firm replaces retiring CEO
Swiss private bank to exit private banking in 2021
It is in ‘advanced negotiations’ to sell and transfer its client portfolios, front-office and subsidiaries
UK firm buys wealth arm of Falcon Private Bank
The deal will expand its client base and add about $1bn in client assets
Middle East | 29 Aug 17
UAE issues new tax law to implement 5% VAT
The government of the United Arab Emirates has issued a decree paving the way for its new value added tax (VAT) system to be implemented from 1 January 2018, which will cover the financial services sector.
Luxembourg regulator fines Rothschild over 1MDB failings
Swiss private bank Edmond de Rothschild has been fined nearly €9m (£7.9m, $10m) by Luxembourg’s financial regulator for its handling of funds reportedly linked to beleaguered sovereign wealth fund 1Malaysia Development Berhad.