Jupiter boss Andrew Formica to step down after ‘extremely challenging’ period June 28, 2022 The boss of Jupiter Fund Management Andrew Formica has announced he will retire as CEO later this year after a turbulent period at the helm of the London-listed investor. Formica, who joined the firm from Janus Henderson in 2019, will step down as chief executive and director on 1 October and hand over the reins to [...]
Liontrust profits roar past £96m after resilient inflows June 22, 2022 Asset manager Liontrust posted a 64 per cent surge in pre-tax profits today after bucking the outflows seen across the sector in the past year.
FinnCap boss Sam Smith to step down after 24 years June 21, 2022 The boss of AIM-listed brokerage finnCap is set to step down after more than 20 years in the role, the firm announced today.
Gilbert’s AssetCo buys Edinburgh asset manager to bolster Scottish business June 21, 2022 Martin Gilbert’s asset management vehicle AssetCo has snapped up Scottish firm SVM Asset Management Holdings for £10.7m, as it looks to broaden its footprint north of the border.
Law firms join forces to press claims on Woodford fund collapse June 15, 2022 Two of the law firms pressing claims over the alleged mismanagement of the now collapsed Woodford Equity Income Fund are looking to join forces in a bid to win redress for investors.
AssetCo boss says ‘still much to do’ as firm posts first half loss June 15, 2022 The boss of AssetCo said today there was “still much to do” as the newly expanded asset manager posted pre-tax losses of £2.6m for the first half of the year.
Exclusive: Moneyfarm’s rising star CEO on disrupting finance and the M&G deal that got the City talking June 14, 2022 Moneyfarm is a pan-European digital wealth manager with around 80,000 active investors and more than £2.2bn invested on its platform. Until recently it has been better known in Italy than the UK, but this is likely to change very soon, a confident Giovanni Daprà – co-founder and CEO of Moneyfarm – tells City A.M. today. [...]
Exclusive: Half of City’s asset managers, pension funds and insurers still do not have any ESG policy in place May 30, 2022 It has emerged that many key players in the City still do not have developed an environmental, social and governmental investment policy. In fact, just under half (45 per cent) of asset managers, pension funds and insurers still do not have ESG investment policies in place, according to new research from Clearwater Analytics, shared exclusively [...]
Weekend exclusive: Despite record fine of £160m for JPMorgan, City managers still have WhatsApp ‘blind spot’ May 22, 2022 The majority of financial institutions fail to monitor their employee’s WhatsApp conversations, according to new research shared exclusively with City A.M. today. A new poll of almost 100 City players, including investment banks, brokers, and investment managers, found that just 14 per cent actively carry out effective supervision or surveillance over the world’s most popular [...]
Allianz told to pay $6bn after SEC charges three execs with fraud over Structured Alpha funds scandal May 17, 2022 The US financial watchdog has told German financial services behemoth Allianz to pay $6bn (£4.8bn) after charging three of its senior executives with fraud in relation to the $11bn collapse of the firm’s Structured Alpha funds. Allianz agreed to pay $1bn to the US Securities and Exchanges Commission (SEC) and a further $5bn to investors, [...]