Managers of Wealth

China Merchants Is Hiring to Service Surplus Millionaires

Shenzhen-based CMB is planning to hire 300 new private bankers and advisers this year to add to the existing staff of 1,000

Interest in Barclays Asia wealth unit intensifies

Barclays’s sale of the unit could fetch as much as $400 million, though the valuation could change as bidders get more detailed information about the business, they said.

Charles Stanley closes two branches in consolidation push

Duncan Graham, head of the Newbury office, will move over to Charles Stanley’s Oxford office.

Morgan Stanley Wealth Management Launches Enhanced UMA Trading Capability for Financial Advisors

“UMAX’s ability to so efficiently facilitate changes across multiple UMA portfolios simultaneously is a major step forward in the industry,” he added.

Former Barclays Chief Bob Diamond eyes Barclays Africa assets

Bob Diamond, the forceful former Barclays chief executive, is approaching investors to back a takeover bid for a swath of the UK bank’s African empire that he helped to construct.ccc

Edmond de Rothschild in Geneva Targeted by French Criminal Probe

The company has no further comment at this time, according to the statement.

Wealth managers’ push for scale triggers M&A surge

Scorpio reports that M&A activity saw $410bn of assets transferred in 2015, compared with $460bn the year before. However, both figures pale in comparison to the $780bn that changed hands in 2013, generated by 100 deals.

UBS CEO: ‘Brexit’ Threat to Globalization Worries Me

“UBS CEO: ‘Brexit’ Threat to Globalization Worries Me” is categorized as “business”.

Deutsche Bank WM reshuffles senior management in Asia

Sudhir Nemali is the German lender’s new Asia COO, based in Singapore.

Vanguard and 7IM to launch D2C platforms

The direct-to-consumer sector is set to take centre stage as Seven Investment Management 7IM and Vanguard Asset Management both enter this space in the coming months.

UBS’s French Business Faces Inquiry Into Possible Witness Tampering

The judges are in the process of determining whether to send that case to trial.

PAM AWARDS 2016: Ascent Private Capital Management of U.S. Bank Wins Best in Private Banking Award

The award was accepted by Ascent Head of Private Banking Mark Foster at the PAM Awards ceremony in New York City on Feb. 22. Ascent has received a total of four awards from PAM since 2014.

BoA: China’s Wealth Management Products Pose Systematic Risk

In 2014, the balance of WMPs grew from 10.2 trillion yuan to 15 trillion yuan, up 47.25% year-on-year.

Morgan Stanley to Hire 75 in Push for Latin American Wealthy

The new hires would bring to 435 the number of people Morgan Stanley has helping foreigners with their U.S. investments

BOK Financial Closes on Weaver Wealth Management Transaction

The deal is anticipated to increase BOK Financial’s assets under management and administration by approximately $320 million and expands the company’s wealth management reach in Texas.

PAM AWARDS 2016: Tiedemann Wealth Management Wins Award for Best Trust and Estates Division

The PAM Awards recognize and reward those who have provided exceptional advice and service to wealthy families in an increasingly complex economic environment.

Wealth management fees hit 5-year high in Singapore

Wealth management fees more than doubled between 2010 and 2015 at Singapore’s three banks, as Asia Pacific surpassed North America as home to the largest number of high net worth individuals.

PAM AWARDS 2016: Cantor & Webb Named U.S. Private Client Law Firm of the Year

The black-tie event was attended by hundreds of private wealth executives and celebrated those who have provided exceptional client service to the private asset management industry over the past 12 months.

Staff engagement puts Nedbank Private Wealth in Top 100

Our company aim is to serve our clients better than any other financial services organisation and we appreciate that employee engagement is crucial to achieving this.

ANZ considered IPO for wealth management unit; sources

It was also determined that a sale would not have a big enough impact on ANZ's capital position to make it worthwhile.

Wealth and Asset Management