All articles by Verdict Staff
Verdict Staff
U.S. Bank wealth business records 13% rise in Q1 income
U.S. Bank’s wealth management businesses has posted net income of $59m for the first quarter of 2015, an increase of 13.5% compared with $52m in the year ago quarter.
FACT Middle East commences operations in Qatar
FACT Middle East, a specialist family office and part of Swiss family office group LP Suisse Group, has said that it is now fully operational and open for business, offering upscale family office advisory services in Qatar.
Charles Stanley overhauls business to focus entirely on wealth management
British wealth manager Charles Stanley is set to raise £15.8m through an institutional share placing, reduce its dividend by 60% and continue its disposal of non-core assets, in a bid to cut costs and focus entirely on the wealth management business.
Jupiter Fund Management AuM rises to £34.8bn
UK-based Jupiter Fund Management’s total assets under management (AuM) increased to £34.8bn at the end of March 2015, an increase of 9% compared with the end of December 2014.
UBS to review Australian wealth-management unit
Swiss banking giant UBS is set to carry out a review of its Australian wealth-management arm, that may result in a sale of the unit.
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State Street Global Advisors rolls out infrastructure ETF
State Street Global Advisors, the asset management unit of State Street, has rolled out an infrastructure exchange-traded fund (ETF).
BNY Mellon’s London branch fined £126m by FCA for custody rule violations
The Bank of New York Mellon’s (BNY Mellon) London branch and international unit have been fined £126m by UK’s Financial Conduct Authority (FCA) for failing to comply with rules which aim to protect client assets if ever the bank would become insolvent.
Old Mutual names new group CEO
Old Mutual has appointed Bruce Hemphill as its new group CEO, replacing Julian Roberts as part of an orderly succession plan.
Bank of America’s wealth arm sees 10% fall in Q1 net income
The Global Wealth and Investment Management segment of Bank of America has reported a net income of $651m for the first quarter of 2014, a decline of 10.7% compared to $729m a year ago.
Citigroup reshuffles management team
US banking giant Citigroup has shuffled its executive team following the retirement announcement of its consumer banking head Manuel Medina-Mora.