All articles by Verdict Staff
Verdict Staff
HSBC to slash 260 jobs in its Swiss private banking unit
HSBC is set to axe about 260 jobs in its Swiss private banking arm over the next two years, as it plans to switch to a new core banking platform.
Custom House opens office in Hong Kong
Custom House Fund Services, an independent global fund services provider, has expanded its presence in Asia-Pacific by opening office in Hong Kong.
BMO Financial Group unveils new wealth management brand
BMO Financial Group has introduced BMO Wealth Management, a new umbrella for its wealth businesses.
Objectway launches fully hosted investment solution – Wealth in One
Objectway, a provider of software and services to the EMEA investment management industry, has launched its fully hosted digitally enabled investment management solution – Wealth in One.
Alliance Trust strikes deal with Elliott Advisors over board appointments
Alliance Trust has reached an agreement with its biggest shareholder Elliott Advisors, a US-based hedge fund group, to avoid showdown over board appointments.
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Carmignac opens office in Zurich
Carmignac, a Paris-based fund manager, has continued its expansion spree in Europe with the launch of a new subsidiary office in Zurich.
Banco Santander Q1 profit surges 32%
Spain’s Banco Santander has posted attributable profit of EUR1.72bn for the first quarter of 2015, a hump of 32% compared to EUR1.3bn a year ago.
Brooks Macdonalds discretionary FuM crosses £7bn mark
UK wealth manager Brooks Macdonald Group said that its discretionary funds under management (FuM) in financial third quarter increased 7.4% to £7.46bn from £6.95bn at the end of 31 December 2014.
Europe’s total AUM reached EUR19trn in 2014: EFAMA
Europe assets under management (AuM) increased by approximately 15% in 2014 to EUR19trn, from EUR16.5trn at end 2013, according to a new report published by European Fund and Asset Management Association (EFAMA).
Technology: the key to managing change
The landscape of the financial services industry is changing at a rapid pace. Banks and wealth management firms now must cater for a new generation of customers, with different needs and expectations, while managing massively increasing compliance demands and striving for efficiency gains. As a result, the sector is under great pressure, with profit margins now 9pp lower and cost to income 6pp higher than in 2007