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Friend of Madoff pays $277m to settle suit

Gavel

The estate of one of Bernard Madoff’s oldest friends agreed to pay the con man’s victims $277m to settle claims that the Beverly Hills money manager, who died in 2010, got rich from Madoff’s fraud at the expense of thousands of investors, including his own clients.

ANZ continues retreat from Asian wealth management

Business Hand Shake

Australia & New Zealand Banking Group’s sale of businesses in five Asian markets to DBS Group Holdings offers the latest sign of consolidation in the region’s highly competitive wealth industry, which has already seen a retreat by European players like Barclays and Societe Generale.

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Deutsche Bank - External

Achleitner nomination splits Deutsche Bank investors

Paul Achleitner's nomination for a new term as Deutsche Bank chairman has split investors, with Qatar's Sheikh Hamad bin Jassim al-Thani backing him but other shareholders reluctant to give their support, according to people with knowledge of the matter.