Managers of Wealth

Barclays sees profits fall 10%

Barclays' six monthly pre-tax profits have fallen after investment bank revenue fell.

Vontobel first-half net profit falls by less than expected

Net new money at the Zurich-based firm for the first half of the year was zero, as modest gains at its private bank were cancelled out by outflows at Vontobel's asset management arm.

Heartwood breaches £2bn asset landmark

Heartwood’s client base has grown across its private client, charity and intermediary divisions, with total inflows of over £600 million over the past 12 months. New business was generated primarily through referrals.

Bedell supports world class musicians

World class international musicians are in Jersey this week to perform along with some of the world’s leading music college students as part of the Jersey International Masterclasses.

Leading firm of independent wealth managers joins MCA

As the chosen partner of over 18,500 global clients, both large and small, Deltek's industry expertise and purpose-built solutions enable consulting firms to optimise their business processes and be competitive in today's global market.

Lord Rothschild awarded J. Paul Getty Prize

The Getty Foundation has announced that the 2014 edition of the J.Paul Getty Prize for achievements in philanthropy and conservation, is to go to Lord Jacob Rothschild.

UBS Net Rises 15%; Bank Settles German Tax Investigation

At the start of the third quarter of 2014, many of the underlying challenges and geopolitical issues that we have previously highlighted remain

Deutsche Bank Posts Fall in Second-Quarter Profit

Income before income taxes (IBIT) of EUR 917 million, an increase of 16% from 2Q2013

Asian wealthy warm to discretionary portfolios

Discretionary portfolio management is starting to gain traction, but finding and retaining investment staff to do it is tricky, say private banking heads in Southeast Asia.

Newedge embarks on prime broking expansion drive

Agency broker Newedge is developing its stock-lending and equities execution capabilities following its acquisition by Société Générale this year and a global restructuring in 2012.

St. James’s Place reports FUM up 19%

Funds under management of £47.6 billion (2013: £39.9 billion) - up 19% over the twelve months and 7% since the start of the year

UBS says cooperating with U.S. inquiries about dark pools

Credit Suisse, one of the biggest players in dark pools, said last week the bank was working with regulators to stamp out potential abuses in the alternative trading venue.

SJP launches level seven masters in wealth management

Entering an exclusive partnership with such a prestigious institution as Loughborough School of Business and Economics will give our community further opportunities to be champions of high quality advice and expertise

Succession acquires Wealth Managemer in £5m deal

It pays a multiple of recurring revenues including an increased rate on revenues through Succession’s own white-label platform.

Odey Asset Management makes Swiss push

Odey, which manages approximately $12.3bn of assets, is one of few London-based hedge funds to have expanded into Switzerland since analysts predicted a big wave of departures from the UK in 2010.

Barclays Wealth fails to halt talent drain

Barclays declined to comment on the departures, which add to the growing list of senior executives to have left the bank since it announced it would pull out of 200 wealth markets last September.

Swiss banks face lower fines than feared in U.S. tax case- paper

The banks are not required to hand over client names as part of the deal, but must commit to handing over information which will help U.S. officials set up judicial aid requests to pursue tax dodgers.

Nixon leaves Royal Bank of Canada after long and profitable run

Analysts, journalists and central bankers mostly seem to have only admiration for the 57-year-old’s record in running Canada’s biggest bank by market value since 2001.

C. Hoare poaches clients from big banks with its 'boring' image

Hoare’s wealth management unit grew its funds under management by almost a fifth to £1.56bn, according to its annual report, which will be filed with Companies House on Monday.

Absa Wealth bleeds talent at the top amid mutters over pay

More than 11 key staff have left WIM since October last year. When staff leave specialised units such as WIM revenue tends to follow them to their new companies because of the relationship they have with their clients.

Wealth and Asset Management