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Fortis ejects chief executive

Fortis chief executive Jean-Paul Votron has been ousted from the Belgian bank. A statement said the board of directors of Fortis, along with Votron, have decided to terminate his contract “by mutual agreement” and in the interest of the group.

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Clarity wanted on offshore changes

The Alternative Investment Management Association has called for greater clarity from the Treasury on its proposed overhaul of the offshore fund regime. It says proposed changes do not adequately simplify the current regime and could further burden the investment management industry.

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