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

Swiss bank EFG profit flat after charge for US tax probe

Excluding Switzerland, which experienced a modest outflow in the second half, all other private banking businesses were positive in relation to net new assets.

WH Ireland launches international business on Isle of Man

‘This new office reflects our strategy to grow our discretionary wealth management business.

Ashmore Group Declines as Investors Flee Emerging Markets

Clients redeemed $10.2 billion, or 13 percent of the company’s average assets, in Ashmore’s fiscal first half because of withdrawals in some fixed-income and currency investments, according to the statement.

River & Mercantile eyes float after merging with consultancy

All management and key staff will retain equity interests in R&M Group.

Italy asset management posts outflows of 1.51 bln euros in Jan

Italy's asset management industry had net outflows of 1.512 billion euros in January against outflows of 582 million euros in December

RBC Wealth Management net income up $6 million

Wealth Management net income was $235 million, up $6 million or 3% compared to last year, mainly due to higher average fee-based client assets resulting from capital appreciation and strong net sales.

Millionaire investor visa shake-up

A new proposal, currently under review by home secretary Theresa May, could revolutionise the UK "investor" visa, creating billions of pounds worth of inward investment for the UK.

Private equity real estate firm wins €300m of mandates for new family office venture

The business will target residential development, secondary shopping centres, healthcare in the UK and three-star hotels in London, with a typical deal size of £50 mln and above.

St James's Place eyes up Asian business as profits jump

In advanced talks to acquire international adviser business in Asia

Close Brothers Asset Management launches Master Trust to support SMEs

Close Brothers Asset Management has launched a multi-employer master trust, known as YourWorkplacePension, to support SMEs approaching their auto enrolment staging dates.

F&C warns of drop in revenues ahead of acquisition by BMO

F&C has warned investors that its revenues will be lower than expected this year, ahead of its planned takeover by Canadian giant Bank of Montreal.

Private equity firm takes stake in Enterprise Finance

Private equity firm ISIS Equity Partners has acquired a minority stake in specialist loan distributor Enterprise Finance.

HSBC profits rise for 2013 thanks to cost-cutting

HSBC has reported a 9% rise in profit for last year, boosted by cost cuts as it restructured the business.

HSBC hands allowances to more than 1,000 bankers to avoid EU bonus cap

Britain's biggest bank, HSBC, has risked inflaming the row over City pay by saying it is to award more than a thousand of its top staff allowances to avoid the EU bonus cap.

BDO Unibank to Buy Deutsche Bank's Philippine Trust Business

BDO Unibank Inc., the Philippines' largest bank by assets, said Monday it has signed a deal to acquire Deutsche Bank AG's Philippine trust business.

Walker Crips launches brand for Welsh market

Walker Crips is launching a new brand, Walker Cambria, to offer services designed specifically for the Welsh market.

HSBC Private Bank Profit Slumps Amid Swiss Client Outflow

HSBC Holdings Plc, Europe’s largest lender, said full-year earnings at its private bank dropped 81 percent as customers pulled money from its Swiss cross-border business and the firm made provisions for regulatory probes.

HSBC to announce bonuses totaling $4 billion

HSBC will announce staff bonuses totaling just under 2.4 billion pounds globally for 2013 and is expected to report a significant rise in pretax profit,

RHJ Intl gets German regulator approval for BHF-BANK deal

The combined company will be well-positioned in two of the largest and fastest growing wealth management markets in Western Europe; the UK and Germany.

ABN AMRO reports Q4 net loss on bank tax, loan impairments

The bank, which is being readied for an eventual initial public offering, said 2013 marked the bottom of the economic cycle and that it sees signs of a recovery.

Wealth and Asset Management