The US Securities and Exchange Commission has granted a three-year extension to the MiFID II relief period for American firms.

The SEC will allow US brokers to continue bundling execution and research payments for another three years. In October of 2017, the SEC published a ‘no-action letter’, stating that American firms did not need to actively adhere to MiFID II’s unbundling guidelines. This letter was due to expire in July 2020.  This latest statement by…

Targeting the best

KBL European Private Bankers appoints Yves Stein new group CEO, «Yves Stein has been appointed group CEO by KBL European Private Bankers, taking over from Jacques Peters, the Luxembourg based financial provider. Stein was previously CEO of Union Bancaire Privée (Europe) in Luxembourg, and earlier was director general of Private Banking at BNP Paribas (Switzerland).…

Julius Baer Hires Ex-Barclays W&IM Managing Director

EXCLUSIVE: Julius Baer Hires Ex-Barclays W&IM Managing Director Julian Cooper, a former managing director at Barclays Wealth & Investment Management, has joined Julius Baer International as senior client relationship manager. Cooper, based in London, left Barclays Wealth & Investment Management earlier this year after 23 years there. During his time at Barclays, he led the entrepreneurs team and served…

Falcon Private Bank COO Joins Avaloq

Falcon Private Bank COO Joins Avaloq Avaloq, the provider of wealth management technology, has appointed new leadership for its Swiss business process outsourcing centre. Tobias Unger, the chief operating officer and deputy chief executive of Falcon Private Bank, will join Avaloq in October as CEO of Avaloq Sourcing in Switzerland and Liechtenstein. Unger joins after six years…

Lux group ups UHNW expansion with Swiss bank purchase

Luxembourg-based Banque Havilland has acquired Swiss bank, Banque Pasche in a push to expand its reach to ultra-high net worth individuals. Following the completion of the acquisition of Banque Pasche’s share capital, the bank will be renamed Banque Havilland (Suisse) S.A. This purchase comes just three months after the Luxembourgese bank acquired Banco Populare Luxembourg S.A. Approved…