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

Libya Withdrawing Investments From BNP Paribas, Societe Generale

The state-held fund, which has $12 billion in assets, had about $10 billion invested outside the oil-rich nation

Kbc sells part of private equity portfolio

KBC Private Equity NV has reached agreement with KeBeK I, a newly established private equity investment fund managed by KeBeK Management NV, regarding the sale of the major part of KBC PE’s remaining private equity portfolio.

Gatehouse Bank acquires 2nd US ‘portfolio’

Gatehouse Bank has completed the acquisition of a diverse industrial portfolio of 19 operationally critical properties across the United States of America.

Middle Eastern banks make formal offer for Malta-headquartered trade finance bank

The offer provides for “a comprehensive approach culminating in a rights issue to increase the bank’s capital”. Burgan and UGB could potentially acquire a controlling interest in Fimbank.

BNY Mellon's German Investment Boutique to be Renamed

The choice of name was made after a thorough research process.

Citigroup Investment Banking Unit To Cut Bonuses, 150 Jobs

The securities and banking division employs about 17,000 people.

Barclays could ax as many as 3,500 investment bank staff

Barclays could ax as many as 3,500 investment bank staff and cut its advisory or equities operations in Asia as part of a broader strategic review aimed at fixing the bank's culture in the wake of the financial crisis.

China's ICBC bank opens branch in Barcelona

ICBC has always attached great importance to the Spanish market, said ICBC Vice-President Wang Xiquan at the opening ceremony of the Barcelona branch.

RBI wins Bank of the Year in CEE and Austria

The Bank of the Year award is already the fourth decoration RBI received for its strategic positioning, its performance and its excellent service for private and corporate customers in CEE so far this year.

Credit Suisse Said to Cut About 100 Jobs in UK

“The recently announced reorganization, including integration of asset management into private banking, should also allow for additional cost savings over and above the 4 billion francs target,” Citigroup analysts, including Kinner Lakhani, sa

UBS’s Orcel Says Investment Bank Revamp Will Take Up to 5 Years

The Zurich-based bank will need time to show progress because it won’t be hiring expensive teams from rivals or using its balance sheet to win more business

BNP Paribas bullish despite domestic crackdown on banks

"Given that we have few speculative activities, if we have to put a tiny bit into a separate entity with more capital... we will adapt," he told journalists at a media event on Wednesday.

Italy's asset management flows positive in Q3, Assogestioni

The positive performance follows two quarters of outflows for the Italian industry.

Independent researchers face fight with banks

Investment managers have been criticised by investors and regulators for using brokers who provide research to conduct trades on behalf of clients.

UK banks should face threat of being broken up, says FSA

Britain's banks should be forced to fully separate their retail arms from investment banking operations if they try to dodge new rules designed to protect the taxpayer, a top regulator has warned.

Bank Pekao posts record profit in Q3

Bank Pekao, which belongs to the Italian UniCredit, posted zł.798 million in net profit for the third quarter,

UniCredit Swings to Quarterly Profit

Net income was 335 million euros ($425 million) compared with a net loss of 10.6 billion euros in the third quarter

Short-sellers nearly brought down HBOS, inquiry told

Stock market speculators nearly brought down HBOS in March 2008

Credit Suisse Stands by Investment Bank, Chairman Says

Credit Suisse AG (CS) stands by its investment bank, the bank's chairman said in a newspaper interview Friday.

RBS Appoints UBS to Oversee Branch Sale

RBS Chief Executive Stephen Hester asked UBS to assess a number of options as to what to do with the parcel of assets, which must be sold by December 2013 in accordance with a European competition ruling, the report added.