08/28/2012
Morgan Stanley’s $9 billion valuation implies the joint venture’s profit could shrink by as much as 12 percent annually over the long term, according to Goldman Sachs Group Inc. analysts.
08/28/2012
Baker’s profit per partner fell 9 percent to a three-year low of $1.09 million, however, with the firm’s profit margin dropping 4 percentage points to 34 percent.
08/28/2012
The Serious Fraud Office, which prosecutes bribery and white collar crime, may inform the London-based bank about its decision on a probe this week, according to the people, who declined to be identified because the discussions are private.
08/28/2012
The FSA has launched a second thematic review into the suitability of client portfolios that could lead to regulatory action against wealth management firms.
08/27/2012
A German media report put an unwelcome spotlight on Singapore, Asia's prominent wealth management centre, earlier this month, saying that some Swiss bankers had advised clients to transfer funds there before the implementation of a deal to tax German
08/27/2012
France’s solidarity tax imposed on wealth currently serves to generate in the region of EUR4bn a year for the state.
08/27/2012
Neither would confirm whether the inquiries concerned U.S. sanctions against Iran, which have led to investigations at rival banks such as UniCredit and RBS and have already cost Standard Chartered a hefty fine.
08/27/2012
In its complaint, the Securities and Exchange Commission (SEC) accused Marks of recommending various funds of funds through Sky Bell Asset
08/27/2012
Survey of insurer’s ‘account managers’ suggests disclosure is key RDR concern for advisers.
08/26/2012
CEO says dividing Citibank would be an ‘artificial separation’
08/26/2012
The judge said she will rule later on preliminary approval.
08/26/2012
Unicredit has confirmed it is co-operating with a US investigation into a possible breach of sanctions.
08/26/2012
"The bank requires that all employees in the cross-border asset management business abide by legal fundamentals, including the German-Swiss tax deal […] Whoever transgresses is severely sanctioned”, Mr Weber told German newspaper Handels
08/23/2012
Respondents requested the expungement of the matter from Respondents Bilski’s and Clish’s Central Registration Depository records (“CRD”).
08/23/2012
The magistrates have now put the chief executive of Intesa's Luxembourg unit Societe Europeenne de Banque (SEB), Marco Bus, and an Italian broker and former Intesa employee, Alessandro Jelmoni, under investigation.
08/22/2012
According to legal expert Joachim Wieland, the deciding factor in the matter is whether or not the state has an exceptional financial need for such a one-off levy, for example to save the country’s banks, to bail out other countries, or to reduce bo
08/22/2012
The products span from life policy investments, to alternative asset classes, such as fine wine, art, Indonesian timber, green energy funds and wind farms.
08/22/2012
Julius Baer seems to have widespread shareholder support for acquiring Bank of America Corp.’s non-U.S. Merrill Lynch units, the Zurich-based newspaper reported, citing an interview with Enkelmann, who added that a “good portion” of the
08/22/2012
The proposed legislation takes as inspiration the new U.S. Foreign Account Tax Compliance Act (FATCA), which is designed to stop Americans from hiding money from the taxman offshore, the report says.
08/22/2012
Mr. Tan has argued throughout the case, which commenced late last year, that is common practice for senior bank employees to make requests to RBS's rate setters about appropriate rates.