07/17/2012
Credit Suisse Q2 Pre-tax Profit Down
Private Banking with 2Q12 net revenues of CHF 2,704 million and pre-tax income of CHF 775 million
Wealth and Asset Management
07/17/2012
The health of the global private banking industry - Research
Scorpio Partnership’s annual Private Banking Benchmark of the global wealth management industry released today shows international providers weathered the storms of 2011 more successfully than smaller players.
07/17/2012
Investment Quorum’ is Private Client Practitioner 'Top 25 IFA' for third year in a row
Investment Quorum’ has been assessed by leading wealth management data and analysis group ‘PAM Insight’ as one of Private Client Practitioner’s ‘Top 25 IFA Companies 2012’.
07/17/2012
New Issue of Philanthropy Management
Government taxation of charities tends to reduce the philanthropic sector's ability to address social needs that are often not covered by government, according to Richard Schwartz, Philanthropy Management's editor. "This calls into question
07/16/2012
Banca Mediolanum outlines benefits of selling asset management business
Fully owned by its founding shareholders Mediobanca and Banca Mediolanum, two giants in the Italian financial services industry, Banca Esperia is a boutique specialised in wealth management, with assets around €13.5bn.
07/16/2012
Midas Balanced Growth Fund removal from the Wealth 150
Founded in 2002, Midas was one of the front-runners in multi-asset fund management: combining a range of different asset classes including government bonds, equities, fixed interest, property and alternative investments, in a single fund.
07/16/2012
Credit Suisse warns do not expect deluge from Europe bank asset sale
These include competition for the assets themselves, potentially tighter regulation on risk-taking as ‘shadow banks', and possibly also unrealistic expectations from some clients of the returns achievable from the assets.
07/16/2012
Goldman Sachs to build up private banking arm
Shift Into Lower-Margin Lending Reflects Harsh Climate Facing Wall Street
07/16/2012
JPMorgan Cuts Investment Banking Compensation
Bloomberg reports that the unit set aside $4.91bn for pay in the first six months of the year, enough to compensate each of the 26,553 employees an average of $184,989 for the period, according to figures posted on the firm's website.
07/15/2012
SWFs go shopping for managers
The asset management arms of banks, many of which are keen to sell, are likely to head the list of acquisition targets.
07/15/2012
Queen's Bankers Deny Breach In Security
Royal Bank of Scotland-owned Coutts, which has served as banker to the Royal Family since the 18th century, said it had no evidence that client confidentiality had been compromised.
07/15/2012
Merrill Lynch Wealth Management launches global investing programme
Merrill Lynch Wealth Management professionals will explore the growing importance of these themes and the opportunities they present; highlighting ways in which the next generation can integrate them into their financial planning process and investment po
07/12/2012
How the world views the 1 percent
The survey, which asked over 12,000 people whether they agreed with the statement "most rich people in my country deserve their wealth," found that this year nearly 15 percent strongly agreed and 28 percent agreed versus 12 percent and 27 percen
07/12/2012
Britain’s wealthiest families 500 times richer than poorest
Families in the top bracket had a total wealth of £4.5 trillion in 2008-10, whereas those at the other end of the scale only had £8 billion, an Office for National Statistics (ONS) study found.
07/12/2012
Italy's Kairos joins forces with Julius Baer
Under the terms of the agreement, Kairos will acquire Julius Baer Sim, while the Swiss group will have a 20% share in the asset manager.
07/12/2012
Barclays signs 3-year deal with Premier League
Next season, the 21st since the league was founded in 1992, kicks off on Saturday, 18 August.
07/11/2012
Cofunds to Provide Custody for Heartwood UK and Global Funds
Heartwood, a wealth management services company, has mandated Cofunds as custodian for £130 million of its funds.
07/11/2012
7IM adopts 'modest risk allocation' for multi-asset range
The committee has upped exposure to risk assets such as European companies and cyclical stocks, which now appear at cheap valuations.
07/10/2012
Barclays' Bob Diamond to forego £20mn bonus: chairman
Diamond was one of the world's highest paid bankers, earning a package worth £17.7 million last year.
07/10/2012
Suitors gather as BSI and Merrill Lynch go up for sale
BSI had CHF77.7bn ($79.4bn) assets under management (AUM) in 2011, making its private banking business comparable in scale to the non-US wealth management unit of Bank of America Merrill Lynch with $90bn AUM.