All articles by Verdict Staff
Verdict Staff
Wells Fargo signs exclusive recruiting arrangement with Credit Suisse
Wells Fargo Company and Credit Suisse have signed an exclusive recruiting arrangement under which relationship managers and their clients in Credit Suisses US Domestic Private Banking business can move to Wells Fargo Advisors, the brokerage unit of Wells Fargo, by early 2016.
BNY Mellon reports 23% fall in Q3 income
The Bank of New York Mellon (BNY Mellon) has reported third quarter net income applicable to common shareholders of $820m, or $0.74 per diluted common share, a decrease of 23% compared with $1.07bn or $0.93 per diluted common share a year ago.
EXPERT COMMENT: Global growth is not falling apart
Samy Chaar, chief economist at Lombard Odier Private Banking, comments on concerns over global growth
Morgan Stanley wealth arm registers 3% rise in Q3 pre-tax income
Morgan Stanley’s wealth management arm has posted a pre-tax income from continuing operations of $824m for the third quarter of 2015, up 3% compared with $800m in the corresponding quarter of 2014.
GAM investment management AuM drops to CHF72.4bn in Q3
Swiss money manager GAM Holding has reported that assets under management (AuM) in its investment management unit declined to CHF72.4bn in the third quarter of 2015 compared with CHF73.5bn as of 30 June 2015 due to negative market performance.
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Raiffeisen Banks Russian unit offloads its pension fund business
AO Raiffeisenban, a Russian subsidiary of Raiffeisen Bank International (RBI), has sold its pension fund business (ZAO NPF Raiffeisen) to the Russian BIN Group for an undisclosed sum.
Maybank Kim Eng selects IRESS as technology partner
Maybank Kim Eng, an investment bank in Asia, has chosen IRESS, an Australian financial software company, as its technology partner to offer multi-asset solutions.
Citi, The Wharton School set up wealth institute for advisors
Citi has joined hands with The Wharton School of the University of Pennsylvania to launch Citi Wharton Global Wealth Institute to offer multi-year global executive education program for wealth advisors.
Chairman buys majority stake in multi-family office Oracle Capital
Oracle Capital Group, a multi-family office and wealth consultancy, has revealed that its chairman Martin Graham has acquired majority stake in the company.
SEC fines UBS $17.5m for failing to disclose shift in investment strategy
The US Securities and Exchange Commission (SEC) has fined two UBS advisory firms $17.5m for failing to disclose a change in investment strategy by UBS Willow Fund LLC, a closed-end fund they advised.