Managers of Wealth

Number of Turkish Millionaires Surpass 50,000, Vatan Reports

Turkish millionaires hold a total of 341 billion liras ($192 billion) in bank accounts, making up 47.5 percent of total deposits in the country, the newspaper said.

Bank of London and the Middle East celebrates fifth anniversary

In the last five years BLME has established its business platform and developed new business lines and products that provide diverse, sustainable and integrated wholesale banking and wealth management services.

Super rich return to real estate

The report shows residential property is currently the most popular asset class among wealthy investors, with real estate accounting for one third (33%) of the investment portfolios of HNWIs worldwide.

Erste Hungary CEO: Buys BNP Paribas Private Bank Arm

. Banks have been forced to narrow their network of branches and the number of employees.

City calls for heads to roll at Standard Chartered

Mr Sands has been chief executive of Standard Chartered since 2006.

Morgan Stanley 'could close offices and cut staff'

Morgan Stanley has told investors its wealth management business, weighed down by an expensive merger integration and a tough market environment, can deliver mid-teens pre-tax profit margins.

Game changes for foreign banks in Switzerland

When German tax authorities purchased yet another CD containing client details of Germans with Swiss bank accounts, the spotlight was unusually on a foreign bank, the Zurich branch of Coutts.

Vestra partner and ex-Blair adviser Derek Scott passes away

Vestra Wealth partner and former economic adviser to Tony Blair, Derek Scott, has passed away.

Intesa Sanpaolo Private Banking posts 48% increase in net profits

Intesa Sanpaolo private banking posted positive H1 results, with net profits at €68.8m, a 48.1% year on year increase.

Skandia sets out RDR product plans

Old Mutual Wealth Management chief executive Paul Feeney says: “Market conditions are undoubtedly challenging for the financial services market but I believe there are significant opportunities to focus on.

Millionaires reach the million mark

And the report showed how Chinese individuals with more than 10 million yuan (€1.27 million) broke through the one million mark for the first time, up 6.3 per cent on 2011.

BOCHK ramps up its private banking business

BOCHK AM is going to play a strategic role in supporting the development of BOCHK’s wealth management platform by developing into the preferred product provider and strategic partner of BOCHK’s private banking operation and by becoming a trust

Greek bank boss sent €8m savings to London as his bank faced collapse

Theodoros Pantalakis, former chief executive of Agricultural Bank (ATEbank), exported the funds last year as the bank headed for insolvency.

Swiss banking sector could shrink by a third

A number of other similarly gloomy predictions have been made about the Swiss banking industry.

Wealthy Brits look to flee abroad to escape high taxes, crime and rain

Crime, high taxes and even the weather are driving a growing number of wealthy Britons to actively consider moving abroad, according to a financial advisory firm.

Wall Street bankers face severe pay cuts

Wall Street bankers look set to be hit by severe pay cuts this year as the industry's heavyweights come under pressure to axe costs, recruiters have warned.

AMP CEO Craig Dunn forfeits $3.2m worth of bonus shares

He is the second executive in less than a fortnight to forgo shares because of performance hurdles.

CIBC buys private wealth management firm

The business manages some $1.4 billion in assets for high net worth individuals families, endowments and foundations.

Active investor champions unlimited partnerships

Your humble correspondent’s mind drifts back to December when Magne Orgland, head of asset management at Wegelin & Co, sat in the same room telling the very same story.

Arbuthnot acquires new London Office

The lease is due to expire in December 2013 and as the building will be 25 years old it is planned that a renovation and fit out programme will be undertaken which is expected to cost approximately £5.0 million.

Wealth and Asset Management