Managers of Wealth

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.

Kleinwort Benson bags industry accolade

Kleinwort Benson Investors is pleased and honoured to have been named "Investment Manager of the Year, Ireland, 2012" by the prestigious World Finance publication.

Barclays plans radical bonus reforms

Barclays is planning radical bonus reforms that could see staff having to wait until they retire to collect their awards.

Fiducia goes for gold with fund Olympics

Henderson Global Investors and M&G came second and third, respectively.

Global Asset Management Profit Margins at Risk - Research

According to a new industry analysis surveying 96 money managers worldwide that oversee approximately $21 trillion in assets, profit margins since the financial crisis have been managed by controlling compensation and benefits expense.

RBS Results: Taxpayer Backed Bank Announce £1.5bn Pre-Tax Losses

RBS also unveiled a £125 million bill to cover the cost of its IT meltdown.

Liechtenstein Private Bank Expects 28 pc H1 Net Income Gain ‎

The Group expects to record total net income of roughly CHF 25 million (previous year: CHF 19.4 million) for the first half of 2012.

Australian Corporate Philanthropy Needs Direction

The report also found however that the reporting regime around the donations was opaque and that improved reporting standards and disclosure would lead to better targeted philanthropy and significant reputational enhancement for the companies concerned.

South African wealth management group announces 43% rise in earnings

According to the report, basic earnings per share totalled 632.7 cents in the six months to end-June, compared to 443 cents a year ago.

Wealth and Asset Management