Guernsey-based FirstRand International Wealth Management renamed its trust company Firstrand Trustees and introduced a new range of pensions and savings schemes for companies. The full story here.

Arcil announced it would put down $120 million and raise another $480 million from other sources and then invest the whole lot in non-performing assets (NPA’s) , reported Reuters India.

Rand Merchant Bank, a division of FirstRand Bank of South Africa, holds 5% in Asset Reconstruction Company (Arcil), after buying the shares at 36 rupees per share in March 2007 for an estimated total of 400 million Indian rupees. Read more about this investment. 

Read here about Arcil’s brave decision to set up a $600 million fund to buy into the high risk/high return world of NPA’s.

Not all shares are losing ground these days. In fact, some seem to be gaining value quite dramatically. Like the investment FirstRand recently made in the Indian company Asset Reconstruction Company (Arcil), if an article in Calcutta-based The Telegraph is anything to go by. [Read on]

SA financial institution FirstRand is re-organising its international private wealth management business headquartered on Jersey. [Read on]

Rand Merchant Bank (RMB), investment banking arm of FirstRand, signed an agreement with Eurobase International Group for the use of Siena Gateway, a strategic tool for the “near-zero latency streaming of forex prices to various channels”, Eurobase announced on its site. [Read on]