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LUXEMBOURG > Switzerland based Swissquote Group is set to buy Interactive Investor’s Luxembourg operation Internaxx Bank SA for 27.7 million euros ($32 million)

For focusing in the UK platform business, Interactive Investor is set to sell its Luxembourg operation to Switzerland based Swissquote Group. The transaction is subject to regulatory approval by the CSSF and the ECB in Luxembourg. According to Richard Wilson, chief executive of Interactive Investor: “This last year has been the start of an exciting […]

USA > Toronto based Vlaad and Company to expand into the USA by launching office in New York

Toronto based Vlaad and Company, a financial service executive search firm, is set to expand into the U.S. market by opening an office in New York City. Expanding the firm’s North American presence and helping both American and Canadian firms find top-tier talent, Vlaad and Company has chosen New York as it is the epicenter […]

SAUDI ARABIA > Bahrain based Gulf International Bank (GIB) to expand to Saudi Arabia

Bahrain based Gulf International Bank (GIB) is set to expand to Saudi Arabia by completing the necessary steps to convert its branches into a locally incorporated bank which is also Gulf International Bank’s largest market. After receiving approval from the Saudi Council of Ministers to convert its branches to a locally incorporated bank, Gulf International ...

INDIA > IFC which is a member of the World Bank Group is set to invest INR 6.4 billion ($100 million) in Mahindra & Mahindra Financial Services Ltd (Mahindra Finance)

  Investing $100 million in Mahindra Finance, IFC intends to enable Mahindra Finance to further augment its growth and in turn extend mainly farming loan to individuals to buy tractors, vehicles and other equipment along with financing small and medium enterprises. To be secured through nonconvertible debentures, this loan will assist Mahindra Finance which ...

SPAIN > The Netherland based Aegon is set to expand its partnership with Banco Santander in Spain investing a total amount of EURO 290 million ($337.4 million) depending upon the performance of the partnership

Aegon is set to expand its partnership with Banco Santander in Spain covering term life and selected lines of non- life insurance following Banco Santander’s acquisition of the Banco Popular franchise in 2017. According to Alex Wynaendts, CEO of Aegon: “I am delighted to announce an expansion of the existing relationship with Banco Santander, which […]