All articles by Verdict Staff
Verdict Staff
London is top global city, but New York poised to take crown: Knight Frank
New York will overtake London as the most important city for the ultra-wealthy by 2023, according to Knight Frank’s Wealth Report, an annual analysis of wealth flows and property investment around the world.
RBC Global Asset Management announces 50.21% increase in February net sales
by Alexandra Capik
RBC Global Asset Management Inc. (RBC GAM), the asset management division of the Royal Bank of Canada, announced a 50.21% increase in net sales, from $932 million in January to $1.4 billion in February 2014. The managements long-term funds had net sales of $1.5 billion compared to $1.1 billion the previous month. Market funds had net redemptions of $117 million, down from $183 million in January. Assets under management increased by 3.1% compared to 1.3% in January.
Michael Wealth Management opens new branch office in Tennessee
Michael Wealth Management Group has opened a new branch office in Shelbyville, Tennessee.
Barclays, Deutsche Bank sued over accusations of gold price manipulation
A class-action suit has been filed against Barclays, Deutsche Bank, HSBC, Societe Generale and Bank of Nova Scotia in New York federal court alleging they have conspired to manipulate the London gold fix, a twice-daily benchmark price used as a reference for trade in gold and gold derivatives.
US agencies issue final Dodd-Frank Act stress test guidance for medium-sized firms
Three federal bank regulatory agencies are issuing final guidance describing supervisory expectations for stress tests conducted by financial companies with total consolidated assets between US$10 billion and US$50 billion.
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Brewin Dolphin suing Charles Stanley over prising employees
by Alexandra Capik
Wealth management giants Brewin Dolphin and Charles Stanley are locked head to head in a legal battle after several of Brewins employees were allegedly poached from their Leicester office to Charles Stanley.
Raymond James lures US$1.4 million advisory team from Wiley Bros-Aintree Capital
Raymond James Financial has lured a Tennessee-based team of two financial advisers from Wiley Bros-Aintree Capital that managed nearly US$200 million in client assets.
State Super Financial Services awards Perpetual Investments $300 million mandate
State Super Financial Services (SSFS) has granted Perpetual Investments a $300 million mandate to manage part of its enhanced cash portfolio.
Standard Chartered adds trustee services for funds in Singapore
Standard Chartered has added trustee services to its global custody and fund services capabilities for collective investment schemes in Singapore.
Morgan Stanley considering Swiss private bank sale
by Alexandra Capik
Morgan Stanley is considering a sale of its private bank in Switzerland, according to a spokesperson for the company.