Zurich to sell Luxembourg private bank unit to Lombard Int’l

The deal is subject to regulatory approvals and it is expected to complete in the first quarter of 2016. Zurich Eurolife S.A. is Zurich’s wholly owned subsidiary in Luxembourg, having provided life insurance since 1995. Xavier Nevez, chief executive of Zurich Eurolife S.A., said: “The decision to sell our private banking solutions business in Luxembourg…

Bank of Montreal Enters Robo-Advising Ahead of Other Lenders

Bank of Montreal starts signing up customers for its automated low-fee investment-advice platform this week, making the lender the first of Canada’s big banks to embrace a robo-advisory business. “It’s really an area that we’re predicting great growth,” Joanna Rotenberg, head of personal wealth management at the Toronto-based bank, said in an interview. “We think…