Sunday, 22nd November 2009

 

6 November 2009 - Press Briefing

Italian tax amnesty on course to exceed repatriation target

The Italian tax-amnesty scheme unveiled seven weeks ago could surpass its target of repatriating capital worth €100bn ($148.7bn) by its deadline of December 15, sources told The Wall Street Journal.

Fabrizio Besana, chief of legal affairs of Unione Fiduciaria, an Italian union of trustees, said that the number of applications submitted in the first months - based on preliminary figures - “exceeds by more than double the two previous government tax-shields plans". Italian asset managers such as Banca Generali, Banca Leonardo and Ersel Group are likely to benefit from the gush of new inflows.

Read the original

Most Read

  1. Colonel Gaddafi's son buys £10m London property
  2. Lombard Odier hires from Coutts
  3. Comment: Prince William seals the ascent of hedge funds
  4. Citi Private Bank poaches senior Merrill executive
  5. How The Rich Are Different: Recession Hits Investment Psyche

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

Diary: Utopia for Yacht Lovers

Looking to get more from your yacht? Why not share it with others?

More from Wealth Business

  1. Aberdeen takes control of Horlick's Bramdean
  2. KKR's deal maker and truffle hunter
  3. Stanhope Capital grows staff by 50%
  4. London & Stamford profits up but still 'cautious'
  5. Hildebrand urges stricter regulations for Swiss banks

2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU

Tel: +44 (0) 20 7309 7788

Company No 3089347