All articles by Verdict Staff
Verdict Staff
Julius Baer H1 profit drops following US charge; to buy stake in Mexican advisory firm
Swiss wealth manager Julius Baer has posted a net profit of CHF39.7m for the first half of 2015, a dip of 78% compared to CHF178.9m a year ago.
The Business of Art
Paul Hewitt, head of client strategy for Christies in Europe, the Middle East, Russia, and India, reflects on the similarities between the art market and private banking industries
Azimuts Australian arm to acquire Lifestyle Financial Planning Services
Italian asset-management giant Azimut has agreed to purchase a 51% stake in Lifestyle Financial Planning Services (LFPS) for EUR2.8m via its Australian subsidiary AZ Next Generation Advisory (NGA).
Goldman Sachs Q2 profit plunges 48% on legal costs
Goldman Sachs has reported net earnings of $1.05bn or $1.98 per common share for the second quarter of 2015, down 48% from $2.03bn a year ago due to litigation expenses.
Three more Swiss banks reach deal with US to settle possible tax evasion cases
Swiss banks Mercantil Bank (Schweiz), Banque Cantonale Neuchateloise and Nidwaldner Kantonalbank have agreed to pay US authorities combined penalties of nearly $3.1m to avoid prosecution for aiding wealthy Americans avoid taxes.
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AMP SMSF snaps up Justsuper
AMP SMSF has acquired Justsuper, a SMSF specialist business which has approximately 1000 funds under administration, to increase its market share in Australias $500bn SMSF sector.
Citigroup profit soars in Q2; Private Bank revenues up 13%
American banking giant Citigroup’s second-quarter net income jumped to $4.84bn, or $1.51 per share, from $181m, or $0.03 per share a year ago, when the bank had $3.7bn in costs from settling a mortgage-bond probe.
Vontobel Asset Management unveils two new institutional mutual funds
Vontobel Asset Management has unveiled two new SEC-registered institutional mutual funds for institutional clients in the US.
Bank of the West opens wealth management center Palo Alto, California
Bank of the West, part of the BNP Paribas’ global wealth management business, has opened its newest wealth management center in Palo Alto, California.
Wealth manger YBR rolls out new legal service
Yellow Brick Road (YBR), an Australia-based wealth management and financial services firm, has rolled out a new service that provides in-house legal assistance in property matters.