Discretionary wealth manager Quilter Cheviot has appointed Caroline Simmons as its new chief investment officer.

Swiss bank and investment provider Credit Suisse has been fined £87m by the Prudential Regulation Authority for “significant failures in risk management and governance” related to the collapse of Archegos Capital.

Swiss bank and wealth manager UBS has completed its £2.5bn takeover of troubled rival Credit Suisse to create a wealth management giant with approximately £3.8bn of invested assets.

Swiss bank and wealth manager UBS is to acquire its troubled rival Credit Suisse in an “emergency rescue” deal worth £2.5bn.