All articles by Verdict Staff
Verdict Staff
IBRC yet to take final call on wealth management division sale
Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank, is still pondering whether to sell its wealth management division or to run the business with the rest of the nationalized bank, according to a report published in The Irish Times.
UKs Labour Party presses to end tax havens
Labour party leader Ed Miliband has called for the UK government to end the tax havens for the citizens of the country, starting with the Channel Islands and Isle of Man.
Bahamas enacts innovative entity for offshore trust structures
A new type of entity for use in offshore wealth presentation structures has been created in the Bahamas and is expected to become law imminently The so-called Bahamas Executive Entity Bill was proposed by London law firm Lawrence Graham to the Bahamas Financial Services Board as a solution to its clients concerns regarding who should be the decision makers within their wealth structures.
Investors appetite for risk improving, says BofA Merrill Lynch survey
Global investors have started 2012 with a reawakened sense of optimism towards the global economy and greater appetite for risk, according to the BofA Merrill Lynch Survey of Fund Managers for January.
Wells Fargo Advisors Q4 net income improves
Wells Fargo Advisors, the brokerage and wealth management subsidiary of Wells Fargo, has reported a net income of US$325 million for the fourth quarter of 2011, up US$34 million from third quarter 2011 and up US$128 million from fourth quarter 2010.
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Cornerstone Advisors launches wealth management services for tax-exempt organizations
Cornerstone Advisors, a US-based wealth management firm with more than US$2 billion in assets under management, has launched the firms newly expanded wealth management service, RISE , for tax-exempt organizations.
SEI expands Portfolio Monitor compliance system for money managers
SEI has expanded its proprietary Portfolio Monitor compliance system for investment managers, which according to the company will help money managers enhance the depth and flexibility of portfolio compliance testing in the face of ongoing regulatory changes.
Wealth advisory, asset management to drive profits of Indian broking houses: Crisil
The earnings of Indian broking houses will increasingly diversify beyond their core broking and investment banking businesses. The new businesses such as wealth advisory, asset management, and retail lending will contribute 50% of the broking houses’ profits in 2012-13, compared with just 25% in 2010-11, according to a report by ratings agency Crisil.
Latest internet boom luring wealth management firms to Silicon Valley again
Thanks to the latest internet boom, Silicon Valley is minting new millionaires in chunks again. The development has lured many wealth management firms, which have pulled back from the valley after technology bubble busted a decade ago, to descend again on Silicon Valley.