Greek shipping families claim they have been let down by private banks in the past, but they still need finance and investment expertise
Europe

ESA proposals could harm European fund industry warns Luxembourg fund body
The European Commission’s proposals to strengthen financial supervision are likely to prove costly and are trying to fix a problem that doesn’t exist, according to Alfi

Cyprus basks in glow of economic recovery but CBI clouds gather on horizon
The eastern Mediterranean island of Cyprus has staged a remarkable economic turnaround, although its citizenship by investment scheme has come in for criticism

Going gets tough for squeezed middle in European ETF battleground
The European ETF market is dominated by a handful of huge players and a long tail of smaller firms. Is it ripe for consolidation?

Political transformation adding to French renaissance believes SocGen
Optimism is running high in both the political and financial systems in France, says Société Générale’s private banking supremo Jean-Francois Mazaud

Cyprus: a financial hub for Europe and the Middle East
Having embarked on the road to recovery after a near-fatal banking crisis, the Mediterranean island of Cyprus is looking to re-establish itself as a regional business base, while hopes for an end to division of the island, partly occupied since the Turkish invasion of 1974, are also rising. PWM talks to financial firms, legal advisers, government agencies and politicians about how expertise in trust and company formation may help the jurisdiction catch new wealth from both Russia and the Middle East, whereas a vibrant shipping industry and real estate market are making Aphrodite’s island more attractive

Paris looks to profit from London’s Brexit own goal
While the UK lurches from one political crisis to the next, its European rivals are gearing up to capitalise on the Brexit fallout, with a revitalised Paris claiming it is the natural choice for any firms fleeing London

Online opportunities in Italian wealth management
With government bonds and real estate looking less attractive, the time is right for robo-advisers to step in and offer something a little different to Italian investors, believes Mario Bortoli, CEO of digital wealth manager Euclidea

Better Swiss relations with EU tops Mirabaud wishlist
Swiss institutions have successfully managed the move to banking transparency, believes Yves Mirabaud, but being outside the EU continues to pose problems for the country’s financial industry

Luxembourg readies its response to political upheaval
A number of London’s financial services firms could well be looking for eurozone bases following Brexit, and Luxembourg is well positioned to take advantage. But the Grand Duchy is also worried about possible US protectionist moves
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