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From Finma wins to new hires: November's top reads

We take a look at the top stories for November.

November has been an eventful month for the Swiss financial market. From new hires to Finma licence wins, wealth managers, asset managers and private banks were on the move.

We're taking a look at the must-read stories from last month.

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November has been an eventful month for the Swiss financial market. From new hires to Finma licence wins, wealth managers, asset managers and private banks were on the move.

We're taking a look at the must-read stories from last month.

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5. HSBC Switzerland poaches new head from UBS WM

HSBC Switzerland has hired Tudor Serea as head of advisory development and sales management, Citywire Switzerland has learned.

Serea took up his new role on 1 November 2018, joining from UBS Wealth Management where he was responsible for sales management, advisory process and platform development. 

At HSBC Serea will be in charge of leading the advisory development and sales team, as well as pushing the bank's growth plans forward.

Click here to read the full story. 

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4. Swisspartners CIO: why I predict a December boom

Swisspartners CIO Peter Ahluwalia has told Citywire Switzerland that he remains optimistic for December, despite the recent market corrections.

Ahluwalia, who describes himself as 'not a panicker' by nature, believes that recent volatility has been largely headline-driven and does not point to a falling market.

'I remain constructive and optimistic at the moment,' he said. 'If you look at the deterioration, it started around June and July along with the trade war rhetoric, so it's supremely headline-driven.'

Click here to read the full story. 

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3. Geneva firm wins Finma licence

Geneva-based financial services firm Union Securities Switzerland (USS) has been granted a Finma licence, Citywire Switzerland has learned.

USS is a broker-dealer providing execution and clearing services across a variety of asset classes, according to its website. This includes equities, bonds, mutual funds and alternative investment products.

A spokesperson for Finma confirmed the decision to Citywire Switzerland, noting that USS has been authorised as a securities dealer.

Click here to read the full story. 

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2. Exclusive: Allianz GI Switzerland heads to exit

Marcel Salzmann, Allianz Global Investors’ Switzerland country head, is set to leave the company, Citywire Switzerland has learned.

Christian Leger, currently head of wholesale for Switzerland, will replace him in that role. Leger joined the firm in April after more than 16 years with Capital Group.

Salzmann’s successor in the role of head of institutional will be announced in the coming weeks.

Click here to read the full story. 

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1. Private banks announce merger

Geneva private bank Banque Heritage and Basel-headquartered Sallfort Privatbank will merge on 3 January 2019.

The newly created institution will take the name of Banque Heritage and, according to a statement released by the banks, operations will be in full effect by mid-2019. Banque Heritage's headquarters will remain in Geneva.

The institutions have decided to merge to boost their presence in Switzerland and will merge as equals.

Click here to read the full story. 

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