Sunday, 8th November 2009

 

9 March 2009 - Press Briefing

Scotiabank acquires Caribbean wealth manager

The Bank of Nova Scotia on Friday declared a deal to acquire a majority stake in Five Continents Financial, a global asset manager in the Cayman Islands, bolstering its presence in the Caribbean, according to a report in The Globe and Mail.

Five Continents Financial, which manages client assets worth $458.3m (€360.7m), runs global investment portfolios and also provides a string of corporate services.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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