All articles by Verdict Staff
Verdict Staff
Umpqua Private Bank expands into Puget Sound Region, hires Elise Fortin to lead New Market Team
Umpqua Bank, a subsidiary of Umpqua Holdings Corporation is expanding its Private Bank division into the Puget Sound region. The company has hired Elise Fortin, an industry veteran with more than 25 years of wealth management experience, as senior vice president and market leader. Fortin will be responsible for building Umpqua Private Banks team in the region and for delivering its high-touch, personally customized offerings to clients in Seattle and beyond.
UBS faces renewal call to break up wealth and investment businesses
After activist investor Knight Vinke Asset Management demanded a review of the UBS’s structure at an investor meeting on 2 May 2013, the Swiss bank has faced a renewed call to break up its investment banking operations and wealth management division
J.P. Morgan Asset Management says opportunity in core infrastructure is too good to last
J.P. Morgan Asset Management asserts in a new research piece titled “Too Good to Last” that while investors are primarily drawn to infrastructure for its income and lower volatility, early movers are also likely to enjoy outsized capital appreciation over the near to mid-term as the demand for infrastructure assets grows.
ANZ appoints new Global Private Banking managing director
Australia and New Zealand Banking Group (ANZ) has appointed Manfred Liechti as managing director for Global Private Banking, reporting to Joyce Phillips, CEO Global Wealth.
The Penn Mutual Life Insurance Company Reintroduces The Extended No-Lapse Guarantee Rider with its Survivorship Plus IUl Product
The Penn Mutual Life Insurance Company reintroduces the Extended No-Lapse Guarantee rider offered as an optional benefit designed to provide added protection through its Survivorship Plus® Indexed Universal Life (IUL) product.
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Carlo di Florio named FINRA’s new executive vice president, risk and strategy
The Financial Industry Regulatory Authority (FINRA) announced today that Carlo V. di Florio, currently Director of the SEC’s Office of Compliance Inspections and Examinations (OCIE), will join the organization as Executive Vice President, Risk and Strategy. In this role, di Florio will lead FINRA’s Office of Risk, Emerging Regulatory Issues, Enterprise Risk Management and Strategy. Di Florio will have overall responsibility for ensuring that FINRA has effective processes for assessing the most significant risks to the investing public and the integrity of our markets, and developing strategic responses to mitigate, manage and monitor those risks and industry trends. In addition, di Florio will manage FINRA’s Enterprise Risk Management program to enhance FINRA’s internal governance, risk management, quality control and compliance in support of FINRA’s mission and strategy. He will start at FINRA on June 24.
Alliance Trust goes with Barclays instead of Lloyds in GBP3 billion portfolio
Alliance Trust’s has swapped Lloyds for Barclays among its top ten holdings, in its GBP3 billion portfolio, in an overhaul aimed at stepping up its gearing in Q1.
Fiserv and Investance extend partnership to Europe Middle East and Africa (EMEA)
Fiserv, a leading global provider of financial services technology solutions, today announced the extension of its strategic partnership with Investance, a global management consulting firm, into the European, Middle Eastern and African (EMEA) regions to help financial institutions transform their control and reconciliations technology and processes.
Adviser numbers to drop to 20,000 in 2013: Ernst & Young
Following a number of adviser departures that 2012 faced in the run-up to RDR, Ernst & Young (E&Y) has said adviser numbers is expected to drop further to 20,000 in 2013.
Ashcourt Rowan registers decline in annual revenue
Ashcourt Rowan plc has said that its revenue for the fiscal year 2012/13 was below the previous year as a result of restructuring and the facilitated exit of selected managers.