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EFG Private Bank has appointed Rajiv Gaglani as the new head of UK wealth planning, succeeding Ken Chapman. Gaglani, who previously worked at Standard Chartered, PwC, and Grant Thornton, will leverage his expertise in UK tax, succession planning, and real estate to enhance the bank's wealth management services. He will report to Michael Vlahovic and Evgenia Goti Koukoumaki, strengthening synergies across UK and global teams.
Stefan Walter, the new director of Finma, criticized the reliance on external auditors, suggesting that Switzerland amend its banking law to allow for more direct inspections by the supervisory authority. He highlighted the inherent conflicts of interest in the current dualistic system and called for the deletion of Article 23 of the Banking Act. Despite his concerns, past inquiries found no legal breaches by auditors, raising questions about the necessity of increasing Finma's staffing for audit functions.
Barclays has mandated that its 85,000 employees return to the office at least three days a week, with some departments requiring more in-person attendance. This move aligns with a broader trend among companies tightening remote work policies post-pandemic, as seen with Lloyds, WPP, and JP Morgan Chase. The Employment Rights Bill currently in parliament aims to enhance employees' rights to request flexible working arrangements.
Barclays has tightened its hybrid working policy, requiring most of its 85,000 employees to work in the office at least three days a week, up from two. This change aligns with a broader trend among banks, as firms like JPMorgan and WPP also enforce stricter in-office attendance rules. The shift reflects a growing emphasis on collaboration in physical spaces post-pandemic.
Swiss business leaders express a mix of optimism and caution regarding Donald Trump's presidency. While some, like ABB's Peter Voser and investor Peter Friedli, highlight potential economic growth and deregulation, others, such as UBS's Sergio Ermotti, emphasize the need for careful financial oversight amid rising uncertainties. Overall, the sentiment reflects a complex landscape shaped by both immediate benefits and long-term risks.
Investcorp has acquired Epipoli, an Italian alternative payments enabler, from Bregal Milestone, with founder Gaetano Giannetto remaining a minority shareholder and CEO. The transaction, supported by various financial and legal advisors, positions Epipoli for accelerated growth in the payments sector, building on its significant market presence and recent expansion efforts.
Investcorp has acquired Epipoli, an Italian alternative payments enabler, from Bregal Milestone and founder Gaetano Giannetto, who will remain a minority shareholder and continue as CEO. The transaction, supported by various financial and legal advisors, aims to accelerate Epipoli's growth and expand its international offerings. Since Bregal's investment in 2019, Epipoli has quadrupled its revenues and completed three acquisitions.
VeChain leverages blockchain and IoT to enhance supply chain transparency and efficiency, partnering with major companies like Walmart China, BMW, and PwC. Its dual-token system stabilizes transaction costs, while the VeChainThor blockchain ensures reliable product tracking and authentication, positioning it as a leader in supply chain innovation. With a stable price trend and strong support levels, VeChain is poised for gradual growth as businesses increasingly adopt its technology.
VeChain is set to enhance its ecosystem in 2025 with the launch of VeBetterDAO, a project aimed at promoting sustainability through AI-driven rewards. CEO Sunny Lu emphasized the importance of the VeWorld Wallet for adoption and highlighted partnerships with major companies like Walmart and BMW, despite ongoing hesitance from some enterprises to adopt blockchain technology. The upcoming "VeChain Renaissance" upgrade will focus on decentralization, improved tokenomics, and new validator opportunities to bolster network growth amid evolving regulatory landscapes.
PwC's audit of Credit Suisse (CS) has come under scrutiny following a report revealing failures in oversight by the FAOA and a lack of crisis communication with FINMA. Despite significant issues at CS, including a near bank run, the audit firms faced no major repercussions, leading to calls for stricter regulations on auditor selection and frequency of changes. The GWP report criticized the FAOA for not conducting thorough inspections during PwC's first major bank audit, highlighting the need for effective early warning systems in financial oversight.
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efg private bank appoints rajiv gaglani as head of uk wealth planning
British Pound Sterling
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CHE
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08:37 07.02.2025
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investcorp acquires epipoli to enhance international payments and engagement services
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