Managers of Wealth

HSBC profits rise for 2013 thanks to cost-cutting

HSBC has reported a 9% rise in profit for last year, boosted by cost cuts as it restructured the business.

HSBC hands allowances to more than 1,000 bankers to avoid EU bonus cap

Britain's biggest bank, HSBC, has risked inflaming the row over City pay by saying it is to award more than a thousand of its top staff allowances to avoid the EU bonus cap.

Credit Suisse launches school for private bankers

Here’s a sign of the times: Asia is getting rich so fast that private banks cannot add staff quickly enough to keep up.

BDO Unibank to Buy Deutsche Bank's Philippine Trust Business

BDO Unibank Inc., the Philippines' largest bank by assets, said Monday it has signed a deal to acquire Deutsche Bank AG's Philippine trust business.

Walker Crips launches brand for Welsh market

Walker Crips is launching a new brand, Walker Cambria, to offer services designed specifically for the Welsh market.

National Bank of Canada profit rises on wealth, market

National Bank of Canada, the country's sixth-largest lender, said on Monday its first-quarter profit rose 9 percent, driven by stronger wealth management and financial markets income.

HSBC Private Bank Profit Slumps Amid Swiss Client Outflow

HSBC Holdings Plc, Europe’s largest lender, said full-year earnings at its private bank dropped 81 percent as customers pulled money from its Swiss cross-border business and the firm made provisions for regulatory probes.

L&G targets HNW clients of DFMs with launch of tax solutions team

Legal & General has set up a small team focused on providing tax solutions to high-net worth clients of discretionary fund managers and the advisers who use them.

Kleinwort/RHJ gets German regulator approval for BHF-BANK deal

The combined company will be well-positioned in two of the largest and fastest growing wealth management markets in Western Europe; the UK and Germany.

ABN AMRO reports Q4 net loss on bank tax, loan impairments

The bank, which is being readied for an eventual initial public offering, said 2013 marked the bottom of the economic cycle and that it sees signs of a recovery.

Skandia unveils charges on WealthSelect funds

The average annual management charge (AMC) for WealthSelect funds is 0.52%. The cheapest deal Skandia has negotiated is at 0.35% and the highest is at 0.70%.

Citi CEO Corbat gets $17.8m in 2013

Citigroup Inc Chief Executive Michael Corbat received a 23 per cent pay rise in 2013, his first full year after replacing Vikram Pandit at the helm, a regulatory filing on Thursday showed.

It seems like private banking never gets any respect...

What It's Like Running Money For Some Of The Richest Families In The World

AMP reports good growth in wealth management

Australia’s biggest life insurer AMP has reported a 2 per cent fall in net profit to $672 million for the year to December, as earnings were hammered by worsening claims and customers cancelling their cover.

Rathbones profits up 15 pct as markets rise

Andy Pomfret, chief executive, Philip Howell, deputy chief executive and Paul Stockton, finance director, discuss Rathbone Brothers Plc's results to 31 December 2013

NAB named best private bank

National Australia Bank Private Wealth, for the second year in a row, has been named the best private bank in Australia at the Asian Private Banker Awards for Distinction.

7IM switches Income fund to a passive mandate

7IM to expand its active allocated passive range by changing the strategy on the CF 7IM Income fund.

Northern Trust Expands Global Family & Private Investment Offices Group in London

The Global Family and Private Investment Offices group (GFO) is a boutique practice within Northern Trust's Wealth Management business. Established more than 30 years ago,

Singapore, Now World's Fastest Growing Wealth Management Hub, Not Free From Tax Evasion And Other Crimes

Singapore has overtaken Switzerland, emerging as the world’s fastest-growing wealth management center

Asset management CEOs optimistic about future revenues - PwC

Research from PwC has revealed that 97% of asset management CEOs are confident that their revenues will increase over the next three years.

Wealth and Asset Management