French financial group Société Générale has launched Kleinwort Hambros, its new UK private bank that gathers Kleinwort Benson and Societe Generale Private Banking Hambros. Kleinwort Hambros has £16bn (€18.6bn) in assets under management and is established in London, Cambridge, Newbury, Leeds, Edimbourg, Jersey, Guernesey as well as in Gibraltar. This move follows the acquisition of Kleinwort […]
Swiss private banking group J. Safra Sarasin has announced the completion of its acquisition of Credit Suisse’s presence in Gibraltar, which will now be called Bank JSS Gibraltar Ltd. With the deal which was announced in March this year, J. Safra Sarasin aims to strengthen its presence in Gibraltar, where it has been operating since […]
The UK’s chief tax authority, HM Revenue & Customs, has given ‘recognised stock exchange’ status to the Gibraltar Stock Exchange (GSX) under the relevant UK Income Tax Act. This means that securities listed on the GSX are now eligible for inclusion in UK Self Invested Personal Pensions (Sipps) and Individual Savings Accounts (Isas), both of […]
Brendan Poots, the manager of the Priomha Capital Cloney Multi-sport Investment Fund and its Gibraltar-domiciled version which will start trading on 1 October, says the fund will be taking some positions in the major European football leagues. In his view, “there will be no Leicester this season in the Premier League”. Priomha Capital’s analysis suggests that Manchester […]
Gibraltar-based hedge fund Priomha Global has launched a multi-sports strategy investing in sports and events. Brendan Poots (pictured) will play the Uefa Euro 2016 football championship taking place in France in June and July. Not as a player nor a staff person, but as manager of the Cloney Global Investments fund he launched and registered […]
UK foreign exchange provider Moneycorp has obtained a bank licence in Gibraltar, which it has said will enable it to expand deeper into other European markets as part of its business development strategy. The licence approval from the Gibraltar Financial Services Commission will see Moneycorp Bank, based in Gibraltar, start operations by May. It will […]
J Safra Sarasin, the Basel, Switzerland-based private banking group, said it had agreed to acquire Credit Suisse’s private banking businesses in Monaco and Gibraltar, for an undisclosed amount. In a statement released on Tuesday, Safra Sarasin described the two entities as “an excellent strategic fit with the J. Safra Sarasin Group”. When the deal is completed, […]
The Gibraltar Stock Exchange (GSX) has announced the first listing of a corporate bond and an asset backed security on its platform. European Investment Grade Properties plc, (EIGP) a UK firm, listed a £50m, 5%, 2023 corporate bond on 19 February. The listing member was Castle Fund Administrators Limited. EIGP director Guy Saxton said the […]
The Gibraltar Stock Exchange, GSX, has admitted the Lyford Global Fund Limited as the first fund to list on the exchange. The listing, which was confirmed on 22 January, follows the opening of GSX to listings of open ended funds in November 2014. Listings of closed ended funds are expected in 2015. Lyford Global Fund […]
The Financial Services Commission of Gibraltar has authorised GSX Limited to open the jurisdiction’s first regulated stock exchange. The GSX will initiate a soft launch on 1 November, when it invites firms to apply for membership as Listing Members. The exchange will be fully open for listings in the first quarter of 2015. Nick Cowan, […]
An arduous 15-year journey from ‘tax haven’ to international financial centre is complete, according to those responsible for regulating and marketing the industry based in Gibraltar.
Gibraltar’s fund industry is being heavily promoted by the government’s Finance Centre, keen to ensure that the jurisdiction does not lose out on any market share come the implementation of the EU’s Alternative Investment Fund Managers Directive (AIFMD) this summer.