03/15/2012
Societe Generale Private Banking appoints new Marketing Head
He will be responsible for defining and implementing the private bank’s commercial strategy, in coordination with the Executive Committee.
Wealth and Asset Management
03/15/2012
London is top city for investment, KPMG report says
London remains the top city in the world for foreign investment, according to a report that reflects the rise of emerging economies.
03/14/2012
Senior Credit Suisse banker gets bonus despite £210,000 fine
A senior Credit Suisse trader will be paid a bonus for 2011 despite being fined £210,000 by the Financial Services Authority for "improper market conduct".
03/14/2012
Upbeat Brooks Macdonald defies markets
WEALTH manager Brooks Macdonald has continued to enjoy solid growth in the funds it administers, even as markets tanked in the second half of last year.
03/14/2012
Close AM loses £2.6m as restructure continues
Close AM lost £2.6m in the period compared with a £6m loss in the previous six months.
03/14/2012
Europe's Family Offices Looking To Invest In Hedge Funds
Family offices in Europe have cash and are not only willing to put it in hedge funds, they’re willing to place it with smaller managers.
03/13/2012
UBS, Deutsche Bank Fight U.K. Over Taxes on 2003 Bonus Plans
UBS AG (UBSN) and Deutsche Bank AG (DBK) said they don’t owe taxes over a 2003 compensation plan U.K. authorities argue was designed to avoid millions of pounds in taxes and national insurance contributions on employee bonuses.
03/13/2012
Brooks Macdonald to launch York office
The exact location of the office is yet to be finalised, although it is understood that the office will open later this year..
03/13/2012
Liontrust acquires Walker Crips Asset Managers
The acquisition of WCAM broadens the fund management capability at Liontrust, increases Liontrust's assets under management to more than £2 billion and gives the company one of the strongest ranges of UK equity funds and teams.
03/13/2012
Close Brothers profits up despite securities headache
The firm reported pre-tax profits of £66.8m in the six months to the end of January, up from £58.3m the year before.
03/13/2012
FSA warns of poor conduct in private banking and wealth management
In its Retail Risk Conduct Outlook, published today, the regulator highlighted private banking and wealth management as an “emerging risk”, warning that poor conduct could lead to “widespread detriment”.
03/12/2012
Private banks get tough on mortgages
Many banks are demanding that clients transfer assets of significant value to qualify for a lower mortgage rate, while others include a clause that says the interest rate will rise after six or 12 months if the promised cash or investments are not deposit
03/12/2012
Fairbairn Private Bank expands discretionary investment management services
Fairbairn Private Bank has widened access to its discretionary investment management service with the inclusion of a range of collective investment funds
03/12/2012
Merrill Lynch seeks UBS banker to boost badly hit broking arm
Bank of America Merrill Lynch is in talks with a leading banker at UBS as it seeks a senior figure to salvage its badly hit corporate broking arm.
03/12/2012
HSBC Trinkaus & Burkhardt AG 2011 preliminary results
In the Private Banking segment, the bank reported higher 2011 results
03/09/2012
Arbuthnot’s Gilliat hedges counterparty risk for wealthy clients
Gilliat places the deposits across five banks to reduce the risk posed by one going bankrupt, the London-based firm said in a March 5 statement.
03/09/2012
Boris warns Coalition on London wealth tax
Business Secretary Vince Cable yesterday went public on Coalition talks on ditching the 50p top rate of tax and replacing it with new wealth levies.
03/09/2012
ABN Amro gets parts of itself back from Royal Bank of Scotland
RBS said in January it was to divest its Dutch securities and M&A activities as part of a shake-up of its global operations
03/09/2012
Skandia UK announces net client cash flow of £1.8 billion during 2011
Skandia UK, part of Old Mutual Wealth Management, saw positive net client cash flow (net sales) of £1.8 billion during 2011, driven by continued demand for its Skandia Investment Solutions platform.
03/09/2012
ABN Amro hit by 880m euros Greek losses
The losses incurred by its exposure to Greece were in the form of corporate loans guaranteed by the Greek government and not direct loans to the government in Athens itself.