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New global head of sales and marketing at HSBC

HSBC Private Bank has appointed Patrick Tuohy as global head of sales and marketing of the Alternative Investment Group.

Tuohy will have collective responsibilities for the sales efforts of both the HSBC alternative investments limited funds of hedge funds business and the private bank’s hedge fund advisory business.

Tuohy joined HSBC in 2004 as head of the HSBC Private Bank’s alternative funds group, based in Hong Kong, where he had overall responsibility for the hedge fund investment platform in Asia.

HAIL CEO Nigel Webber says: “With more than a decade of hedge fund investment experience, including three successful years as the AIG’s marketing head in Asia, Patrick is positioned to continue to promote the AIG and HAIL as the HSBC Group’s centre of excellence for hedge fund research and capitalise on the growing global interest in alternative investments.”


Judge’s payback ruling on endowment redress

A Judge has ruled that an IFA’s client must pay back the endowment misselling redress ordered by the financial Ombudsman Service if their policy matures above the expected level, leaving no shortfall.In what is thought to be the first case of its kind, a County Court in Wales ordered the client to pay back the […]

AJ Bell extends Sipp options

A J Bell is extending the options on its Sippcentre product and will be giving investors access to any investment manager as part of the changes to be introduced early next year.The changes will include allowing commercial property into the Sipp, allowing the member to be appointed as the property manager, the ability to hold […]

Heavy duty

Rising house prices have increased the burden placed on first-time buyers by stamp duty. Will Henley examines the implications of the Tory pledge to revamp the duty and says the market has been disappointed by Labour’s refusal to respond


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