Managers of Wealth

Bob Diamond's alleged bid for Barclays' Africa ops shows what a big mistake it was to let him quit

It's pretty sweet revenge for Diamond as the deal would mean snapping up one of his old employers' most profitable assets

‘Ambitious’ style pays off for new Schroders chief

One top-20 shareholder warned that Mr Dobson, who has run the £313bn asset manager for the past 14 years, risked becoming a “back seat driver”.

Lombard International sets up dual US-UK wealth solution

In addition to providing a practical solution to the issues faced by US clients, the hybrid policy also caters to UK residents who, for business or personal reasons, plan to take up residence in the US for a period of time.

What the Kleinwort buy will mean for SocGen

The planned merger follows SGPB Hambros’ buys of Barings’ private client arm and ABN Amro’s private banking division in recent years, which Barnett classifies as bolt-on acquisitions.

UBS considers acquisitions to expand wealth management in Europe

UBS, the world's biggest private bank, sees growth potential in Europe because the wealth management market is still very fragmented with the biggest banks rarely holding more than a 7 percent share in a particular country.

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.

Wealth and Asset Management