All articles by Verdict Staff
Verdict Staff
UBS Wealth Management lures $950m advisory team from Morgan Stanley
UBS Wealth Management Americas has lured a team of four financial advisers from Morgan Stanley that who managed $950m in client assets.
PGI to launch a wholly owned foreign entity in China, boost headcount in Asia
US-based asset manager Principal Global Investors (PGI) is reportedly seeking to apply for a wholly foreign-owned enterprise (WFOE) license in China by the end of 2015.
RBC GAM becomes signatory to UN-backed principles for responsible investment
RBC Global Asset Management (RBC GAM) has become a signatory to the United Nations-backed Principles for Responsible Investment (UN PRI), underlining its commitment to incorporating environmental, social and governance (ESG) issues into its investment practices and ownership policies.
CIBC wealth arm posts 16% rise in Q3 net income
The wealth management unit of Canadian Imperial Bank of Commerce (CIBC) has reported a net income of C$140m for the third quarter ended 31 July 2015, up C$19m or 16% from C$121m during the same period a year ago.
UKs millionaire count jumps by 41% to 715000 over five years
The Barclays UK Prosperity Map shows that the population of millionaires in the UK has shot up by 41% to 715,000 from 508,000 in 2010, with London having the highest concentration of wealthy individuals.
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UBS GAM rolls out two new alternative beta passive funds
UBS Global Asset Management (UBS GAM) has rolled out two new alternative beta passive funds initially for institutional investors.
Lombard Odier H1 net profit up 12%
Swiss private bank Lombard Odier has posted a consolidated net profit of CHF70m for the first half of 2015, up 12% compared with CHF62.5m the year ago half.
German financial watchdog approves Oddo’s acquisition of Meriten Investment
German financial regulator BaFin has approved the acquisition of Meriten Investment Management by French asset manager Oddo & Cie, creating an asset manager that will manage assets worth EUR45bn.
MB Financial buys JPMorgans Illinois guardianship and special needs trust business
MB Financial Bank has completed the purchase of the Illinois court-appointed guardianship and special needs trust business of JPMorgan Chase, said Mitchell Feiger, president and CEO of MB Financial.
Axa puts UK wealth management business on block
French insurer Axa has put some of its UK businesses, including Axa Wealth up for sale as they have been struggling to make their mark in a tough market.