Companies

Digital wealth management firm StashAway has raised another US $16 million in its fifth funding round since it was set up in September 2016.

Canaccord Genuity Wealth Management (CGWM) posted an improved year-on-year profit across its global operations in the quarter ending 30 June.

Hargreaves Lansdown (HL) has delivered a strong result for its full year ending 30 June, off the back of record inflows and frenetic trading activity.

Investment managers have said the latest Bank of England’s latest despatch may be cause for cautious optimism, despite it saying the coronavirus-related economic recovery is likely to take longer than first thought.

Fairstone, a large UK financial planning group, has completed its acquisition of Chiltern House in Berkshire, bringing on board another 500 clients.

HSBC has said it plans to hire up to 4,000 wealth planners in China over the next four years.

The former chief executive of a London trading firm has announced he is setting up a digital challenger bank in Switzerland, with the new venture just having received its banking licence.

The coronavirus pandemic has stymied turnaround efforts at wealth and investment manager GAM, which recorded CHF 8.5 billion in outflows in the first half of the year.

A new wealth manager focused on the needs of US ex-pats has set up in London.

Adjusted net operating income and pre-tax profits both fell precipitously at HSBC’s restructured wealth and personal banking (WPB) division during the first half of 2020, according to the interim results released on 3 August.