02/27/2012
What to make of Greece’s rescue package
Short term risk reduction, but no long term solution
Wealth and Asset Management
02/27/2012
German Foundation Eyes Wealth Tax Reforms
In its release, the Foundation explains that although private net wealth in Germany is four times public debt, the state nevertheless does not sufficiently tax large wealth.
02/26/2012
The Baring name marks 250 years of business
Marino Valensise, CIO of the firm since 1999, says he is proud of the name’s history, but the brand association does not weigh upon him.
02/26/2012
DIFC, TheCityUK join hands
DIFC has signed a Memorandum of Understanding (MoU) with TheCityUK to share financial, legal and regulatory expertise, collaborating on areas of mutual interest including closer links on education, training and qualifications.
02/26/2012
Bonus cuts hide bigger problem for investment banks
From reducing bonus pools, to capping the amount of cash paid out and clawing back past incentive awards, investment banks are taking what many analysts say is a long overdue look at how the sector’s high pay levels are impeding profit growth.
02/26/2012
Banking on Buddhist Economics: how enduring values underpin a 300-year-old family bank
In 2008 we were Private Bank of the Year in the CitiWealth Magic Circle and Spears Private Bank of the Year. What is going on?
02/23/2012
Aberdeen Asset Management on the threshold of joining Footsie elite
It will be a far cry from when Aberdeen’s role in the scandal pushed the firm to the brink of administration.
02/23/2012
French wealthy eye escape exit as tax burden rises
Advisers to the millionaires report a rise in inquiries from those considering an exit to Switzerland or Monaco - or even Belgium and Britain - before presidential elections this spring.
02/23/2012
Natixis Fourth-Quarter Profit Declines 32%
Natixis SA, the investment-banking and asset-management unit of Groupe BPCE, said fourth-quarter profit fell 32 percent after writing down Greek sovereign debt.
02/23/2012
Credit Agricole Has Wider-Than-Estimated Loss on Writedowns
In 2012, “the main worry is the need for economic growth to get restarted,” Chief Executive Officer Jean-Paul Chifflet said in an interview with Bloomberg Television. The company, which holds the largest lending book in France, plans “to
02/23/2012
SJP rolls out code of conduct for advisers on trail
Wealth manager St James’s Place (SJP) is rolling out "minimum service standards" for its advisers to ensure trail commission and ongoing fees are being levied fairly.
02/23/2012
Dexia Posts 2011 Loss on Greece, Restructuring
Dexia has reported a €11.64 billion ($15.42 billion) net loss for 2011, driven by a write-off of its Greek bond portfolio and costs linked to the break-up of the bank.
02/22/2012
Europe has ring fenced 'Greece' for now: HSBC Private Bank
Arjuna Mahendran, the managing director, Head Investment Strategy Asia, HSBC Private Bank tells CNBC-TV18, he expects the European Central Bank (ECB) to infuse 400 billion to 1 trillion euro via a second Long Term Refinancing Operation (LTRO) on February
02/22/2012
Commerzbank Defends Reneging on Bonus After German Lender Fell Off ‘Cliff’
Commerzbank, which took over Dresdner in 2009 and cut bonuses by 90 percent or more, is defending a lawsuit brought by 104 Dresdner bankers who want individual payouts of as much as 2 million euros ($2.7 million).
02/22/2012
Bankers, Watch Your Bonus, It May Be Revoked
Swiss bank UBS is taking back 50 percent of share-based bonuses over 2 million Swiss Francs ($2.2 million) paid to investment bankers in 2011, after a profit plunge for 2012.
02/22/2012
Exclusive: HSBC To Overhaul UK Bonuses
HSBC, which will report its full-year results for 2011 next Monday, is to issue tens of millions of pounds in new shares to cover any bonuses of more than £50,000 awarded to UK-based employees, people close to the bank tell me.
02/22/2012
Chastened UBS uses 150th events to polish image
The bank has been back in the headlines for the wrong reasons this month after it posted poor results for the last three months of 2011 and over its involvement in a global inquiry into a conspiracy to manipulate interbank lending rates.
02/22/2012
Record year for St James's Place
“Whilst the road to recovery for the UK economy is likely to remain challenging, the need for trusted financial advice is greater than ever. Given the market opportunity available to us, together with the continuing growth and development of the Par
02/22/2012
Barclays Wealth expands advisory service to Monaco
Barclays Wealth today announces that it has extended its Wealth Advisory reach and is now able to offer services directly to clients in Monaco.
02/22/2012
Threadneedle systems catch £95m 'rogue trader'
Success contrasts with UBS and Societe Generale where dodgy trades initially went unnoticed