- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Old Mutual Wealth Targets Over GBP300 Million Pre-Tax Profit in 2015

Old Mutual will take a net GBP15 million operating charge in 2012 for closing to new business

Managers of wealth need to be nimble

“The difference between this year and last is that geopolitical concerns have moved centre stage,” says Jane Fraser, head of global private banking at Citigroup, the US bank.

Credit Suisse to Restructure Wealth Management Unit

Credit Suisse today announced changes in its organizational structure and to its Executive Board effective November 30, 2012.

Clydesdale board pay slashed after bank’s first ever loss

BOARDROOM pay at Clydesdale Bank has more than halved in the past year after it axed executives’ bonuses in the wake of its first annual loss.

Growing regulatory costs send Apcims into the red

Revenues and cash were flat on the year and Apcims has pledged to only raise its membership fees in line with inflation.

MPA Financial Management sign strategic outsourcing investment partnership with London & Capital

London & Capital has entered into a partnership agreement with Warwickshire-based financial planning firm, ‘MPA Financial Management’, to provide a comprehensive range of outsourced, discretionary managed investment solutions.

Liontrust’s Cross and Fosh pour millions more into Brooks Macdonald

The transaction took place on 19 November and was worth around £4 million based on yesterday’s closing price of £12.25.

Whitechurch brings portfolios to IFA community

Company to bring two existing equity strategies to the IFA market.

Spain's Bankia cuts back private banking business

The lender expects to complete the integration by 2013

Northern Trust develops new reporting solution

Northern Trust Integro Helps Clients Increase Transparency into Portfolio Holdings

Lord North Street to open office in Switzerland

Swiss Private Investment Office is further step in international expansion

St James's Place drops GAM's Green and THSP in global equity overhaul

The two firms being brought on board are Magellan Asset Management, based in Australia, and Edgepoint, based in Canada.

Denmark's biggest bank to target private clients in Ireland

The bank has completed a significant restructure of its Irish business from a traditional retail bank to a specialised bank focussing on corporate and private clients

RBS Seeks Coutts Deal With London 2012 Boss

Taxpayer-backed bank's chairman seeks out-of-court deal with Air Miles tycoon on Coutts mis-selling allegations, Sky News learns.

Barclays Wealth unveils post-RDR advice charges

Barclays Wealth has revealed its post-RDR charging structure with a new rate card for advisory clients.

ABN AMRO warns bad loans, bank tax to hurt Q4 earnings

The year-to-date underlying net profit, which excludes separation and integration-related expenses, rose 22%

Sesame expands executive team

This includes the launch of a new wealth management proposition, its restricted advice service and new mortgage-related services.

International funds manager to acquire portfolio of businesses in wealth management

The company has announced that it has commenced due diligence on the acquisition of a portfolio of businesses in wealth management

Kleinwort Benson assets under management flat

Balance sheet remains strong, with a Tier 1 ratio of 22% in our Wealth Management operations and a strong liquidity position underpinned by our prudent treasury investment policy.

Veritas splits private client and fund businesses in restructure

Veritas Asset Management UK is to split its fund management arm from its private client business as part of a corporate reorganisation.

Wealth and Asset Management