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

Fitch cuts French banks’ ratings after downgrading the Country

French Banks including Societe Generale, BNP Paribas and Credit Agricole were hit by credit rating downgrades in the wake of the country’s rating cut.

M&A activity continues to fall through Q2 2013

The Financial Services sector had the second largest deal value increase, up 9.5% to US$ 31.2bn from US$ 28.5bn.

Berlin approached UBS about buying Commerzbank stake

Focus magazine, citing no sources, said Schaeuble had held exploratory talks with Axel Weber, a former Bundesbank chief who is now chairman of UBS, about the sale of the 17 percent stake in Germany's second-biggest lender.

Ashmore Rises After Assets Under Management Beat Estimates

The strongest net inflows were achieved in the local currency and corporate debt themes

Moelis reveals $35m cash pot for bankers

The firm is hamstrung in rewarding staff because their ownership stakes cannot be traded in secondary markets like equity.

Bank of America Executive Killed Himself After 'Tremendous Pressure' to Resign, Girlfriend Tells Inquest

Speaking outside the court, Sroka added: "He had given everything to his career and he felt he was a failure. His death was a total shock. I died the day he died."

JPMorgan profits surge to £8 billion

The US bank is due to unveil its results next week and according to analysts' consensus forecasts

UK traders say bank is 'holding gun to our heads' over new British contracts

BNP Paribas traders based in London say the French bank is putting “a gun to our heads” over demands they sign a British contract that removes some of their perks.

UniCredit Executive Eyes Expansion in Germany

UniCredit SpA (UCG.MI) plans to invest further in expanding its operations in Germany,

Italy's Intesa Sanpaolo Bank mulls expansion in Israel

Despite complaints that foreign investors are avoiding Israel because of over-regulation, the hostile mood against the private sector, and geopolitical tensions, it turns out that not everyone thinks in this way.

Societe Generale strengthens presence in sub-Saharan Africa

In Ghana, SGSS will provide custody of Ghanaian equities and bonds and a comprehensive foreign exchange and cash management service to a clientele of Ghanaian and foreign investors, frontier market funds and other players looking for increased exposure to

RBS chief executive Stephen Hester quits with £1.6m-plus payoff

Stephen Hester will leave RBS with £1.6m in pay and benefits

JPMorgan stays top of investment banking in Q1: Study

JPMorgan Chase kept its top spot for investment banking in the first quarter

Discount Bank closes Paris representative office

Discount Bank is also scaling back its activity in Zurich to the status of representative office.

RBS To Unveil 2,000 Investment Bank Job Cuts

Some of the cuts will fall at RBS's markets operations in the City although many will take place in Asia and its other international operations.

Barclays Chairman doesn't see Sumitomo stake sale leading to others

The sale by Japan's Sumitomo Mitsui Banking Corp of about half its stake in UK

Intesa Sanpaolo to be first Italian bank to trade directly in China

Intesa Sanpaolo, through its asset management unit Eurizon Capital, will be the first Italian bank to trade directly in onshore Chinese financial markets, the bank said on Friday.

Citi expands private equity services business into Luxembourg

Citi’s local Luxembourg team will serve its private equity clients, leveraging the bank’s existing global private equity expertise and delivering its established experience in Luxembourg depositary banking as well as local regulatory and compl

Baird Adds To European Investment Banking Team

With several years of broad deal experience, Luen will be another senior European resource in Baird's Investment Banking group.

Kuwait's Burgan gets approval for stake buy in Maltese bank

the commercial banking arm of Kuwait Projects Co was planning to buy the stake in the trade finance specialist for an undisclosed price.