Hong Kong-based B2B robo-advisory firm Quantifeed has raised an undisclosed amount, in a new funding round led by HSBC Asset Management (HSBC AM), to accelerate its growth trajectory.

The Series C funding round was joined by Daiwa PI Partners and existing shareholders, including Franklin Templeton and LUN Partners Group.

Quantifeed said that the fresh capital infusion will go towards strengthening its solutions for advisors, portfolio managers and end-customers.

The firm also plans to bolster its capabilities in portfolio design, advice and trading engines, and enable wealth management across a set of asset classes including structured products, private equity and digital assets.

In addition, the funds will also help will Quantifeed accelerate talent acquisition across the Asia-Pacific region, particularly Japan and Southeast Asia.

Advisor Group has agreed to acquire Infinex Financial Holdings, the holding company of a privately-held broker-dealer.

The transaction, whose financial terms were not revealed, is subject to FINRA and other regulatory approvals.

Connecticut-headquartered Infinex was founded in 1993.

The firm provides technology via a proprietary platform, in-field relationship management support, wealth and life insurance services, and practice management solutions to banks, credit unions and financial institution-based financial advisors and their clients,

Infinex has more than 750 financial professionals supporting over 230 community-based bank and credit union programmes with clients in all 50 states and managing approximately $30bn in client assets.

Following the close of the deal, the firm will operate as a member firm of the Advisor Group network. It will maintain its existing brand, executive leadership team and operating model.

European Central Bank (ECB) has asked UK-based investment banks to shift senior staff and trading activity to the ‘empty shell structures’ they have set up in Eurozone post Brexit.

The move is part of the ECB’s efforts to prevent the disruption of banking services and ensure broader financial stability in the bloc as several international banks continue to serve euro zone clients out of London.

Ally Invest, the online brokerage and wealth management arm of Ally Financial, has launched a wealth management advisory service.

The move marks the firm’s entry into personalised advice and portfolio strategies.

Ally Invest Wealth Management offers continued and personalised guidance for a minimum of $100,000 in investable assets.

It will enable customers to conduct banking and investing in one place while receiving holistic advice on their complete financial picture, including assets held outside of Ally.

The user will receive the advice they need for their individual financial wellness from a dedicated fiduciary advisor who is “well-versed in behavioural finance,” according to the company.

Julius Baer has started the wind-down of its advisory subsidiary in Moscow in response to Russia’s continuing military aggression in Ukraine.

The Swiss bank said that approximately 1.6% of its $460bn (CHF457bn) assets under management (AuM) were linked to Russian individuals who are neither residents of Switzerland nor the European Economic Area.

Julius Baer’s market risk exposure to Russia is “not significant and tightly managed”, the bank said while outlining its results for the first four months of 2022.

Julius Baer, which has been complying with relevant national and international sanctions on Russia, stopped accepting new Russian clients following Russia’s invasion of Ukraine.