Singapore Central Bank reprimands insurers AIA, Aviva and Prudential
Singapore’s central bank said that it has reprimanded the local businesses of insurers AIA, Prudential and Aviva for breaching requirements related to risk management and supervisors’ pay. The Monetary Authority of Singapore (MAS) said that its investigations found numerous instances where remuneration was paid to supervisors. And that is over sales of investment products and […]
Former Aviva CFO Stoddard joins BofA as investment banking vice chair
Former Aviva Plc Chief Financial Officer Tom Stoddard joined Bank of America Corp as vice chairman of investment banking, according to an internal memo, returning to his advisory roots after a stint in the insurance industry. Stoddard advised on such situations such as American International Group Inc’s $182 billion bailout. And also, in restructuring during […]