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

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.

RBS raises PPI claims bill by a further £400m

Despite the losses, chief executive Stephen Hester said that RBS was "making progress".

Income boost powers 44% Coutts profit jump

This included two new appointments to the board of Coutts & Co Ltd Zurich

Romania’s richest lose EUR 18.5 bln during crisis

The total value of the wealth of Romania’s 500 richest people included in the Forbes ranking is at some EUR 21.5 billion, down from EUR 40 billion in 2008.

Dutch bankers to sign integrity oaths, accept bonus caps

Analysts suggest those earning more than €100,000 are set to take the biggest hit from the deal to impose spending cuts and hike taxes in the next few years in order to meet deficit targets.

Wealth and Asset Management