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HSBC sells majority of Asian fund management arm

HSBC has sold 80 per cent of its stake in its HSBC Private Equity Asia business to the management team.

The management team, Foci Holdings, will buy the majority stake for $18.8m (£11.9m) leaving HSBC with a 20 per cent minority share.

HSBC Private Equity Asia is one of the largest and longest-established private equity firms in Asia, with $3.5bn of assets under management. The deal should be completed in Q4 2010.


F&C UK retail funds to take Thames River brand

F&C Investments is rebranding its UK retail range to Thames River following the merger of the two companies. F&C is to retain the F&C brand for the UK institutional side and switch to F&C Thames River in the rest of Europe.

According to Jason Hollands, director of corporate affairs at F&C, Thames River will still be […]


‘Life offices will raise margins at expense of advisers’

Allium Capital has warned advisers that life companies are trying to “dramatically increase” their margins at the expense of advice firms. Managing director Ronan Kearney says life offices are taking advantage of the FSA’s ban on commission and platform rebates under the RDR. He says the move will put up to 0.75 per cent of […]

Munich Re appoints new CEO

Munich Re has announced that Andrew Rear will succeed Jonathan Ludbrook as chief executive with responsibility for the UK, Irish, African and Australian life reinsurance markets. Ludbrook is retiring after almost 29 years with Munich Re. Rear currently leads the EMEA insurance practice at consultants Oliver Wyman, and is a UK actuary. He begins his […]

Towry appoints investment chief

Towry has appointed Dr Robert Dawkins as chief investment officer. He joins from Aberdeen Asset Management.


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