09/04/2012

City slams wealth tax

“There is likely to be another exodus of wealthy individuals if Nick Clegg manages to introduce a wealth tax,” said partner Camilla Wallace.

09/04/2012

Commerzbank CEO: pay must realign to industry levels

"It would be appropriate if excessively high pay would narrow again towards that in industry," Blessing said, adding however, that any bank that took the first step to curb pay risked losing talented employees to rivals.

09/03/2012

Turcan Connell opens office in Glasgow

Turcan Connell, which was represented by Eric Young & Co, already has offices in Edinburgh, London and Guernsey, but following research identified client demand for an office in the West.

09/03/2012

Wealth managers must ‘get house in order’ as FSA hones in

Firms that market themselves as ‘wealth managers’ must review their processes to ensure that they have sufficient controls to mitigate the potential for mis-selling and document every part of their advice process, according to one compliance e

09/03/2012

Vontobel chief plans a broader future

Zeno Staub, who was appointed chief executive of Vontobel in May 2011 and plans to revive the Swiss private bank’s earnings, is updating the group’s multi-asset capabilities to offer a broader range of investment styles as part of an overall r

09/03/2012

Former Citisoft Senior Managers Start New Consultancy ‎

IAWMC is a specialist operations, systems and IT infrastructure consulting firm which has been established to provide management and IT consulting, interim management and recruitment services focussed solely on the needs of the Financial Services’ s

09/03/2012

Asian ambition drives Julius Baer’s BofA move

By buying Bank Of America Merrill Lynch’s wealth management arm, Julius Baer has doubled its presence in Asia, but their new unit needs something of an overhaul if it is to become profitable

09/02/2012

ANZ Executive Rose Up in Man's World

ANZ's goal is to become a "super-regional" bank in Asia—it owns a 20% stake in China's Shanghai Rural Commercial Bank, among other regional investments.

09/02/2012

Citi's sales to retail and HNW's up 80% YoY

Net sales of investment products by Citi to individual retail and high-net-worth clients around the region are up 80% year-on-year through July, with over $3 billion of net inflows, the firm says.

09/02/2012

Beijing props up Bank of China in Switzerland

According to the 2011 company accounts filed on Friday by the Bank of China UK: “Adverse developments at the bank’s private banking subsidiary in Geneva require the establishment of an impairment provision of £31.4m against this investme

08/30/2012

Cold calling still rife in UAE despite ban

One of the advisers who does not cold call clients, Sarah Lord, wealth planning director for the Middle East and Asia at Killik & Co, said: “I am yet to come across any evidence to suggest that the Central Bank ruling has completely stopped cold