All articles by Verdict Staff
Verdict Staff
HSBC opens Next Generation Fund to HNW and institutional clients
HSBC has launched a new HNW and institutional client share classes for its Next Generation Fund, which invests in new and upcoming hedge fund managers.
SEC tightens rules on fee charges of advisers
The Securities and Exchange Commission (SEC) has tightened its rule on investment advisory performance fees to raise the net worth requirement for investors who pay performance fees, by excluding the value of the investors home from the net worth calculation.
S&P to exit fund research and wealth business in Australia
Standard & Poor will withdraw from providing wealth management services and research on Australian managed funds from 1 October, 2012.
Raymond James wins Towry court case
Wealth manager Raymond James has won a court case against rival Towry, which had accused seven Raymond James advisers of unlawfully soliciting its clients.
HSBC Private Bank names new European head
HSBCs Swiss Private Bank has appointed a former high-ranking UBS manager Franco Morra as regional head of Europe and CEO of the Geneva-based wealth-management unit.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Credit Suisse private banking division Q4 pretax income slumps, cuts bonus pay-outs by 57%
Credit Suisse’s private banking operation, which comprises the global Wealth Management Clients business and the Swiss Corporate & Institutional Clients business, has posted a fall in pretax profit to CHF467 million in the fourth quarter of 2011 compared with CHF824 million in the year ago quarter.
Commonwealth Bank net profits up, wealth business declines sharply
Australia-based Commonwealth Bank declared its results for the half-year ended 31 December 2011 declaring a 19% increase in net profit after tax at US$3.624 billion for the six months to the end of December, compared to US$3.052 billion in December 2010.
US court declares Swiss private bank Wegelin ‘fugitive’
In an unprecedented ruling, the US Justice Department has declared Swiss private bank Wegelin & Co a fugitive after failing to show up in a Manhattan court to answer a criminal charge that it enabled wealthy Americans evade taxes.
BTG Pactual to buy Chilean rival Celfin Capital for US$600 million
Concluding a negotiation initiated in August last year, BTG Pactual, a Brazil-based wealth manager and investment bank, has signed a deal to buy Chilean rival Celfin Capital for approximately US$600 million.
Taiwan to consider yuan-based wealth management investment
Taiwans financial regulator may soon consider enabling individuals to invest in wealth management products denominated in China’s yuan currency.