10/17/2013
North duo to join Praemium ahead of Liontrust deal
Praemium hires Nick Stanhope and Ari Towli from North Investment Partners to join wealth management service.
Wealth and Asset Management
10/17/2013
Morgan Stanley Wealth third-quarter profit soars on fee revenue
Morgan Stanley, which has made a bigger bet on wealth management than any other major U.S. investment or commercial bank
10/17/2013
UBS Wealth Management Americas Relaunches Equity Compensation Business
The new brand reflects the company's significant and on-going commitment to the business
10/16/2013
Rathbones sees assets rise 15.6% in 2013
Rathbone Brothers has seen a 15.6% increase in funds under management in the first three quarters of the year, with flows accelerating in Q3.
10/16/2013
Goldman Sachs Slashes Bankers’ Bonuses by 35%
Fixed income trading revenue plummeted 44%, far more than declines posted by its competitors.
10/16/2013
Barnier rejects UK’s bonuses challenge
Britain’s legal challenge to the forthcoming European cap on bankers’ bonuses is unfounded
10/16/2013
SJP Academy looks to address female adviser shortage
St James’s Place is trying to bring more women advisers into the industry through its training academy so that clients have more choice.
10/16/2013
DBS Said to Advance in Bidding for SocGen’s Asian Private Bank
Societe Generale picked about five suitors to study the unit’s finances after they made initial offers
10/16/2013
EU Commissioner Defends Cap on Bank Bonuses in Face of British Challenge
The EU's financial services chief has defended the right to cap City bankers' lavish bonuses in the face of a legal challenge from Britain over new pay rules.
10/16/2013
Swiss Private Bank To Close Over IRS Investigation
The bank is one of 14 under investigation for allegedly helping Americans evade taxes.
10/16/2013
Raymond James Snags $1B Team
Raymond James recently recruited the firm Provenance Wealth Advisors consisting of 10 advisors and 14 registered associates
10/15/2013
High hopes for private banking in Japan
Wealth managers eyeing opportunities in Japan could have done without last week’s dressing-down of Tokyo-based Abraham Private Bank.
10/15/2013
Salamanca Group Acquires Investec Trust
The business will be run as a stand-alone division, and will be re-branded Salamanca Group Trust Services.
10/15/2013
Wealth manager places Woodford's mandates under review
Wealth management firm is reviewing two mandates managed by Neil Woodford after yesterday's shock departure announcement.
10/15/2013
How are wealth managers stress-testing for a US default?
This means plotting such a scenario in the current globalised world is nigh on impossible, albeit it is clear the impact would be colossal.
10/15/2013
More than half UK's wealth untapped by wealth managers
Wealth managers in the UK are missing out on the opportunity to manage more than £2 trillion, as they focus only on the very richest and ignore the individually less rich – who actually control more than half of the nation’s liquid wealt
10/15/2013
Northern Trust 3Q profit climbs, fee income jumps
Wealth management firm Northern Trust said Wednesday that its third-quarter net income climbed 16 percent as it made more money from fees and benefited from a gain on an office building sale.
10/15/2013
Client Asset Flows Up at BofA as Advisor Ranks Thin
Bank of America’s global wealth & investment management unit on Wednesday reported record-setting quarter in assets under management and fees earned, even as advisor headcount and productivity dipped.
10/15/2013
StanChart’s Private Bank Assets Stagnate in Wealthier Asian Hunt
Standard Chartered Plc Asian private-bank asset growth has stagnated this year as the lender focused on wealthier clients and investment returns were curtailed by volatility in regional financial markets.
10/15/2013
Geneva Banks Enjoy Rebound, But Problems Loom -Survey
Geneva's big banks are enjoying a much better year than they did in 2012 but the general improvement hides continued problems and some banks are expecting a worse 2014