All articles by Verdict Staff
Verdict Staff
J&T BANKAs Total Assets Have Grown by Over 50% YoY to CZK 83 Billion
J&T Banka continues to grow successfully. According to its preliminary consolidated results as of June 30, 2012, the bank achieved a 53% growth of Total Assets to CZK 83 billion, with its profit more than doubling to CZK 581 million.
Advisors prefer long-term strategies, survey
A recent survey by kasina, a consultant and strategic advisor to the asset management industry, has revealed that despite economic uncertainty, many of the financial advisors prefer long-term strategies for portfolios.
HSBCs US unit relaxed AML controls for wealthy clients
HSBC Private Banks US business offered high-risk bearer share accounts to wealthy clients without providing accurate controls despite regulators concerns the accounts were open to abuse for money laundering.
Societe Generales hong Kong arm to repay clients US$11 million
The securities regulator of Hong Kong has said that Societe Generale has agreed to repay more than US$11 million to its wealth management clients after having failed to disclose certain fees and charges to them.
Guardian Wealth Management inks deal with SEI
UK-based Guardian Wealth Management has partnered with SEI as its sole international platform provider for all its offices around the world.
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New clients prefer RIAs in the wake of uncertain economic environment, study
According to the 2012 RIA Benchmarking Study from Charles Schwab, it is the new clients that drive steady growth for independent advisors in face of uncertain economic environment.
Janney selects VestmarkONE to enhance managed accounts capabilities
Janney Montgomery Scott LLC (Janney), a wealth management firm, has selected Vestmark, Inc.’s wealth management platform VestmarkONE to expand its managed accounts capabilities while providing enhanced operational efficiency and compliance oversight.
Goldmans revs up private bank as profits halve
Goldman Sachs is building an in-house private bank to cater for its wealthy global customer base, as it released figures showing its net profits more than halved in the second quarter.
HSBC’s US unit relaxed AML controls for wealthy clients
HSBC Private Banks US business offered high-risk bearer share accounts to wealthy clients without providing accurate controls despite regulators concerns the accounts were open to abuse for money laundering. According to a US Senate committee investigating drugs and terrorist financing, HSBC opened more than 2,000 bearer share corporate accounts over the past decade The committee also alleged that HSBC, in some cases, weakened the application compliance standards to grant its wealthy clients secrecy.
RBS Private Banking launches credit solutions product in India
The Indian private banking arm of the Royal Bank of Scotland Group, RBS Private Banking India, has launched a new bespoke Credit Solutions offering for the Indian market.