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Deutsche Bank to cut costs and bonuses

Bank signals more jobs could go amid plans to cut costs by €4.5bn a year and slash bonuses to senior staff

France’s richest man turns to Belgium as wealth tax looms

He lives in Paris and has a home in Brussels, the daily said. “Contrary to the reports published today, Mr Bernard Arnault states that he is and will remain a French tax resident,” a statement put out by Arnault’s press office said.

Nice little earner: Billionaire to pocket £45m in investment firm dividends

He led a management buyout of Ashmore from Australia's ANZ bank in 1999, owns 42 per cent of the shares in the firm which specialises in emerging market investment.

Cheshire firm boosts assets by £22m with acquisition‎

Clarion, which has 13 staff, has around £100m funds under management.

Skandia brand to disappear as Old Mutual overhauls wealth arm

The unit falls under the remit of the Wealth Management businessrun by former BNY Mellon head of distribution Paul Feeney.

Deutsche Bank CEOs Tackle Ackermann Legacy in Overhaul

Deutsche Bank co-Chief Executive Officers Anshu Jain and Juergen Fitschen, less than four months after taking over from Josef Ackermann, may be preparing the largest revamp at Europe’s biggest bank in eight years.

U.K. Rich Unmoved by Tax Hike as Luxe-Home Sales Surge

The British government’s plan to raise a tax on luxury-home purchases sparked a last-minute dash by real-estate brokers to wrap up deals before the deadline hit in March. They needn’t have bothered.

James Brearley back in black and on bid hunt after restructure

James Brearley is back in the black after slashing nearly £1 million from its wage costs following a restructure.

Walker Crips rolls out bespoke discretionary service

Walker Crips is seeking to increase its presence in the adviser outsourcing space by rolling out a bespoke discretionary service, alongside a model portfolio range to intermediaries.

Appointments as Investec Wealth & Investment integrates Williams de Broë

Investec Wealth & Investment has announced that the transfer of Williams de Broë employees and client accounts has taken place successfully and the businesses have now been combined under the single brand of Investec Wealth & Investment.

Chartis PCG and Markham Private Clients in exclusive HNW deal

Guy Huntley, UK head of the PCG, commented: “I am delighted with our partnership with MPC, which will bring a range of benefits to both brokers and clients. Read more: http://www.insuranceage.co.uk/insurance-age/news/2203396/chartis-pcg-and-markham

UBS’s Ermotti Warns Staff on Misconduct Before Adoboli Trial

The former trader at the firm’s investment bank in London pleaded not guilty in January to charges of fraud and false accounting.

City slams wealth tax

“There is likely to be another exodus of wealthy individuals if Nick Clegg manages to introduce a wealth tax,” said partner Camilla Wallace.

Commerzbank CEO: pay must realign to industry levels

"It would be appropriate if excessively high pay would narrow again towards that in industry," Blessing said, adding however, that any bank that took the first step to curb pay risked losing talented employees to rivals.

Wealth manager launches seven risk-rated portfolios

The portfolios can invest in funds, exchange-traded funds and some direct bonds and there is a possibility it will one day invest directly into stocks and shares.

Rothschild appoints new head of UK private banking unit

He remains a member of the Global Wealth Management and Trust Executive Committee, the source said.

Credit Suisse denies Swiss banks helping Germans dodge tax pact

German media have accused Swiss banks of telling German clients to shift money to Singapore, Asia's prominent finance centre, to avoid detection and taxation of their assets.

Turcan Connell opens office in Glasgow

Turcan Connell, which was represented by Eric Young & Co, already has offices in Edinburgh, London and Guernsey, but following research identified client demand for an office in the West.

Wealth managers must ‘get house in order’ as FSA hones in

Firms that market themselves as ‘wealth managers’ must review their processes to ensure that they have sufficient controls to mitigate the potential for mis-selling and document every part of their advice process, according to one compliance e

Boutique wealth manager launches managed portfolio service

Advisers will be able to discuss investments with the Berry managed portfolio team, “as required”.

Wealth and Asset Management