10/31/2012
Lloyds drops to quarterly loss after 1 billion pound PPI hit
Lloyds Banking Group has set aside a further £1bn to cover compensation for customers who were mis-sold payment protection insurance (PPI).
Wealth and Asset Management
10/31/2012
Walker Crips to sell corporate advice arm for £270,000
Walker Crips, which earlier this year disposed of its asset management business to Liontrust, wants to sell the entire issued share capital of KBR, though the proposed deal will be subject to regulatory approval.
10/31/2012
Charities still unsure about ethical investments
Charities increasingly adopting ethical investment policies, but concerns over financial returns remain
10/31/2012
Commission friendly offering from platform one
The new service provides a platform for international advisers who want to operate a traditional, commission-based revenue model.
10/31/2012
French asset manager opens in Hong Kong
The French asset manager brings its multi-boutique offering to the territory, adding to its five other Asia-Pacific offices.
10/30/2012
Top investment managers lose assets
Assets managed by the world’s largest 500 fund managers fell by around 3% to US$63 trillion in 2011, breaking a trend of the last two years which had seen assets rise by 16% and 4% in 2009 and 2010, respectively.
10/30/2012
Carmignac staff seek to work outside France as tax regime bites
In echoes of fund managers fleeing London on news of tax hikes for the wealthy in 2010
10/30/2012
Barclays reports Q3 loss under new CEO
Commenting on its current performance, Barclays noted that October continues to be affected by the challenging economic environment and subdued market volumes, and it continues to be cautious about the environment in which it operates.
10/30/2012
SJP looks to grow adviser numbers as assets reach £32.8billion
St. James's Place outpaces slow market with sales
10/30/2012
Standard Life sees 37% annual wrap growth
Long-term savings new business sales of £14.4bn
10/30/2012
Societe Generale Private Banking receives three awards
Societe Generale Private Banking has received 3 awards at the Private Banker International Awards ceremony in Singapore on 24 October 2012.
10/30/2012
Wealthy deal for Liverpool financial services firm
Liverpool-based financial services company Wealth at Work has bought a stake in a Yorkshire rival.
10/29/2012
British banking jobs at risk as UBS announce plans to cut 10,000 roles worldwide
UBS AG, Switzerland’s biggest bank, boosted its profitability goal and announced plans for about 10,000 job cuts as Chief Executive Officer Sergio Ermotti scales back the investment bank to focus on wealth management.
10/29/2012
AXA Elevate's assets hit £5 billion
The growth in Architas assets to £11.3bn is a reflection of the growing popularity of its offering.
10/29/2012
Barclay and Coutts criticise 'bigot' award
Other high profile sponsors of the Stonewall awards include PwC and Google.
10/29/2012
Coutts dropped Gulf clients after UK pressure
The FSA found Coutts did not apply robust controls when starting relationships with high-risk customers and did not consistently apply an appropriate level of monitoring.
10/29/2012
RBC Wealth Management launches ‘Intermediary Wealth Solutions’
RBC Wealth Management today announced the launch of its ‘Intermediary Wealth Solutions’ offering, which is to focus on promoting the business’ full suite of services to financial services companies in the Channel Islands.
10/29/2012
Standard Chartered profit up
Asia-focused bank Standard Chartered Plc said its operating profit grew by a mid-single digit rate in the first nine months of the year, keeping it on track for a 10th straight year of record earnings.
10/29/2012
Monaco Tops First Ultra High Net Worth Wealth Density List
Wealth generated in countries rich in natural resources helped three countries stake their claims with Kuwait, Norway and Brunei taking their places among the top 10.
10/28/2012
The Best Banks In The World Broken Down By Category
For its 2012 list of the World's Best Banks, Global Finance choose winners in 12 categories ranging from best investment bank to best Islamic Financial Institution.