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

Germany's second biggest lender may cut up to 6,000 jobs

Without naming sources German weekly Die Zeit reported on Wednesday that the job cuts are part of a multi-billion euro cost-cutting programme running until 2016.

Commerzbank profit misses estimates

Commerzbank, which said it's forgoing its dividend to invest in the core business, reported profit that missed analysts' expectations on losses from non-core assets and a decline in consumer banking earnings.

Société Générale Profit Falls

"The group faces complex and demanding challenges in 2013. However, the group's transformation and limited exposure to extreme risk scenarios in the euro zone place it in a strong position to deal with these challenges," the bank said in a

BNP Paribas eyes more cuts to counter European slowdown

Retail banking, once viewed as a stable counterweight to riskier investment banking, is now also coming under fire as it struggles to make money in a era of low interest rates.

Charles Stanley adjusted pre-tax profits down 17.6%

Charles Stanley has seen its pre-tax profits tumble by 34.6 per cent in the first half of this year, much of it blamed on the FSCS levy and the cost of building its direct platform.

Rich move valuables East, spooked by West's economic woes

"We have a lot of enquiries from European banks, not because they want to move the assets necessarily to Asia, but because their clients are asking them to," said Joshua Rotbart, general manager of Malca-Amit Precious Metals Ltd.

UK Private Bank rationalises multi-jurisdiction global fund range

The merger allows for a consistent investment process aimed at enhancing returns while minimising risk, the company stated.

ING Q3 profit falls

ING Group's 3Q12 net result was EUR 609 million, or EUR 0.16 per share, including divestments and special items.

Rathbones acquires Taylor Young IM's wealth business

TYIM funds under management were £337 million at 2 November 2012 and Rathbones expects to pay a total of up to £10million for the firm.

Funds under management rise at Old Mutual

Funds under management in core operations up 4% to £263.3 billion

Skandia platform assets hit £21.8bn despite sales drop

Skandia, which has since begun to rebrand as Old Mutual Wealth, saw UK platform gross sales of £900 million, down from £1.2 billion in the third quarter of 2011.

UK Royal Mint Plans To Offer Gold Bullion Storage

Britain’s Royal Mint’s announcement is on the heels of Barclays Plc expansion into opening a precious metals vault for its customers in September and Deutsche Bank will follow suit in March.

Ex-Brewin duo to launch Rathbone Lymington branch

The pair are currently working in Rathbones’ Winchester office, but will set up their own branch in Lymington before the end of the year.

AWD starts recruitment drive

The firm currently has 114 paraplanners and support staff and is looking to add another 20 across the UK.

Global Wealth 2012, Highs and Lows of World Salaries

Last year, the smallest wages in Europe were paid in Ukraine, Moldova and Albania.

Fewer than one in four advisers have moved to fee model, says platform provider

Most financial advisers have begun altering the way they receive payments for their services but fewer than one in four have completed the move to charging clients fees for their work, according to a new survey.

Lloyds May Sell Stake in St James's Place Wealth Management

According to the Sunday Times newspaper, Lloyds' 60% stake in St James's Place Wealth Management could be placed with investors in the market before the end of the year.

StanChart private bank to focus on super-rich clients

The British bank typically defines such clients as those who have $25 million invested with the bank, and who are thought to have assets of at least $100 million; the industry refers to such clients as the ultra-high net worth (UHNW) category.

HSBC raises money laundering provisions by $800m

However, the bank said underlying profits in the quarter had increased.

ARC Private Client Indices - RESEARCH

The Q3 2012 performance figures for the ARC Private Client Indices have been calculated. The figures show the actual returns achieved, on average, by discretionary private client managers across four different risk profiles.

Wealth and Asset Management