MoraBanc has appointed David Azcona Armiño as general director of Mora Asset Management. Azcona is now the head of Morabanc’s asset management arm and the main coordinator of investment decisions, the bank confirmed to InvestmentEurope. The move comes as MoraBanc stresses the need for a “quick response” in order to implement the bank’s strategic plan, the […]
BlackRock has named Aitor Jauregui head of Business Development in Spain, Portugal and Andorra, the local trade press reported. Jauregui has so far been head of Distribution for iShares and member of BlackRock’s board and will now lead the group’s business development activities in Iberia, including the wealth, institutional and iShares’ businesses. He will report […]
Andorran Morabanc’s asset management arm has hired Juan Hernando (pictured) as senior fund analyst from Andbank. Hernando will support the fund research team and will be in charge of managing some fund of funds vehicles. Prior to that, Hernando has worked for Inversis, where he was head of Fund Research. He then joined the Andbank Wealth Management […]
Spain’s Comisión Nacional del Mercado de Valores (CNMV) has not approved the deal between Morabanc and Tressis, which was announced some three months ago, the local press has revealed. According to the announcement at the beginning of the year, Andorran Morabanc was to launch in the Spanish market through the acquisition of the Madrid-based platoform Tressis. […]
Spain’s Banco Madrid has filed for bankruptcy and had its funds suspended by local market authority CNMV following money laundering allegations against its owner Banca Privada d’Andorra (BPA). Earlier last week, the US Treasury filed charges against BPA claiming that it laundered money for international criminal gangs. The US Treasury said that BPA was an “easy […]
Andorra’s Morabanc is said to be launching in the Spanish market through the acquisition of fund platform Tressis, according to local trade publications Funds People and Expansión. Although the details of the acquisition are not known yet, the operation seems to be close to reach a final point, according to what a person familiar with the […]
Andorra’s MoraBanc Asset Management has hired David Azcona as head of Asset Allocation and Multi-asset management. Azcona joins from Caja España Fondos where he has been head of Investments since 2009, having joined as mutual fund manager in 2001. Esther Revilla will replace him as head of Investments at Caja España Fondos. According to the local trade […]
Monte Paschi di Siena Group has sold a Monaco subsidiary to Andbanc, an Andorra-based private bank.