All articles by Verdict Staff
Verdict Staff
Net inflows at Vontobel asset management division down in Q3
The asset management division of Swiss private lender Vontobel has reported net inflows of CHF7.2 billion (US$7.99 billion) for the quarter ended September 2013 compared with the end of June 2013.
BofA Merrill Lynch Global Research launches emerging markets local currency bond indices
BofA Merrill Lynch Global Research has launched four emerging markets local currency bond indices to track the performance of local currency non-sovereign emerging markets fixed rate debt.
PIMCO appoints global head of equities portfolio management
American investment management firm PIMCO has appointed Virginie Maisonneuve as managing director, global head of equities and portfolio manager, effective January 2014.
UBS Wealth Management Americas poaches four financial advisers from Merrill Lynch
UBS Wealth Management Americas has hired a team of four financial advisers from Merrill Lynch Private Banking & Investment Group, where they managed US$3.1 billion in client assets and liabilities.
Pre-tax income at BNP Paribas wealth and asset management arm down 11% in Q3
The wealth and asset management business of BNP Paribas has reported pre-tax income of 158 million (US$216.58 million) for the third quarter of 2013, a decline of 11% from 178 million (US$244 million) in the year ago quarter.
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FCA chief calls for greater transparency in asset management sector
Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), has called for greater transparency to boost the reputation of the asset management sector and a frank and open discussion on how and where dealing commission is spent.
Credit Suisse private banking, wealth management divisions pre-tax income up 9% in Q3
Credit Suisse’ private banking and wealth management division has reported pre-tax income of CHF1.02 billion (US$1.14 billion) for the third quarter of 2013, an increase of 8.76% from CHF936 million (US$1.05 billion) reported a year ago.
Pershing helps advisors capture IRA rollovers in a shifting regulatory environment
Pershing, a BNY Mellon company, has released a white paper on the pending regulatory changes for fiduciaries and the potential impact on how advisors manage IRA rollovers.
France places Swiss bank Reyl under formal investigation over Cahuzac tax affair
French prosecutors have launched a formal investigation over Reyl Group, a Swiss based wealth manager, in connection to allegations that it helped former French budget minister Jerôme Cahuzac hide money from the tax authorities.
Kleinwort Benson to acquire BHF-BANK from Deutsche Bank
Kleinwort Benson Group (KBG), the wholly-owned subsidiary of RHJ International (RHJI), has agreed to acquire BHF-BANK (BHF) from Deutsche Bank for 354 million (US$486.3 million).