10/20/2022
Goldman Sachs merges asset and wealth arms into $2.4tn unit
The latest changes come after the asset management arm’s revenues dropped 71% in the year to date.
Wealth and Asset Management
10/20/2022
AUM Growth Outlook Slips for Hong Kong Wealth Managers
There is less optimism about the future of wealth management in Hong Kong this year, according to a report jointly authored by the Private Wealth Management Association and KPMG China.
10/20/2022
GAM Holding AG Releases Interim Statement for the Three-Month Period to 30 September 2022
Challenging market conditions continue to impact GAM’s assets under management
10/20/2022
UBS: Investors Unrepared for History's Biggest Wealth Transfer
With so many wealth managers available, it would seem to be a foregone conclusion that more investors would have at least some basic plan in place.
10/20/2022
UK fund managers Schroders and Jupiter's assets fall on volatile markets
Schroders said the fall in its AUM was partly driven by a decline in its Solutions segment and a 5% decline in its Mutual funds unit.
10/20/2022
Third quarter new business inflows and funds under management update 2022
This has underpinned gross inflows of £4.05 billion, only modestly lower versus a record comparative period in 2021.
10/19/2022
Fidelity International launches two funds for Howard Wright clients
Advisers at Howard Wright can blend the funds for their clients
10/19/2022
Gold Trader Philoro Increasingly Targets Swiss Banks
Precious metals dealer Philoro is now serving banks, asset managers, and other institutions such as family offices in Switzerland.
10/19/2022
Goldman Sachs folds Marcus into wealth management unit
This is despite the fact that the bank presented investors and analysts with a chart in early 2020 suggesting that the business would break even in 2022.
10/19/2022
Lazard moves UK headquarters to Marylebone
The firm has signed a 15-year lease for the Marylebone-based office space, to be occupied by early 2025.
10/19/2022
Morgan Stanley Loses $1 Billion Team to UBS
The Swiss bank said it hired a five-person team in Providence, R.I. with more than $1 billion in client assets.
10/19/2022
BNP Paribas Green Lighted for China Asset Management JV
The new platform will be funded by BNP Paribas Asset Management and ABC Wealth Management, a wealth arm of AgBank.
10/19/2022
Credit Suisse Exploring Capital Raise With Banks
The bank could be aiming to raise at least $2 billion to pay for the bank's restructuring and operating losses over the next couple of years
10/19/2022
Rathbones announces a trading update for the three months ended 30 September 2022
Rathbones is well-positioned to take advantage of the future growth opportunities that can arise both during and after periods of investment market volatility.
10/19/2022
Mintus Announces Partnership With Amicorp To Expand Global Reach
The innovative fractional art investment platform Mintus.com has signed a partnership agreement with Amicorp Group's wealth management company, Amergeris, opening access to shared ownership of iconic art to the clients of private banks, family office
10/19/2022
Quilter assets dip in rough conditions ahead of Feeney exit
Assets under management at Quilter dipped 2% in the third quarter, falling to £96.9bn from £108.5bn in the same period of 2021.
10/19/2022
Ares prepares strategies to meet wealth manager demand outside US
The firm’s wealth management solutions business is now a year old and is eyeing opportunities beyond its domestic borders.
10/19/2022
HSBC expands private banking in UAE to cater to growing millionaire base
Lender opens branch for clients with investable assets of more than $2m
10/19/2022
Citi’s Switzerland CEO shares ‘big plans’ for private banking
Marni McManus took over the banking giant’s Swiss operations last year.
10/19/2022
HSBC expands private banking to cater to UAE’s growing millionaires
The new private bank will cater to the needs of internationally-minded clients with investable assets of over $2 million