All articles by Elsa Buchanan

Elsa Buchanan

Turkey – The Jewel of Asia

With young markets, impressive economic performances, growing need for sophistication and a pampered banking sector, private banking on the Bosphorus has become more and more attractive. Private bankers talk to Elsa Buchanan about a shifting market and how offshore money is making its way back to Turkey.

BNP Paribas to expand wealth unit in Asia

BNP Paribas is to expand its wealth management businesses in Asia.

BNP Paribas wealth unit AuM up 8.6%, revenues down

BNP Paribas’ investment solutions (IS) unit which includes the banks’ wealth management unit reported declining revenues (4.1%) despite good assets under management (AuM) growth by the wealth business (8.6%) over the full-year period.

Barclays’ set to close controversial tax advisory unit

Barclays’ is to close a controversial tax advisory unit, as part of efforts by the bank’s chief
executive Antony Jenkins to signal a clear break from the past, according to media sources.

Pre-tax income up 71% but flat revenues for Credit Suisse

Credit Suisse Private Banking & Wealth Management posted a 71% rise in pre-
tax income, but flat net revenues in the fourth quarter at CHF 3.3bn ($3.64bn) on a
quarterly basis.

Swiss private banks shed unlimited liability in historical shift

Private banks Lombard Odier and Pictet have broken centuries of traditions as they separately announced an end to their unlimited partnership to become corporate or limited partnerships (“société en commandite par actions de droit suisse” or SCA).

‘Investors should not shy away from Spain’: Societe Generale

It is time for private bankers to advise clients to take more risks and turn to southern Europe and China as tail risks recede, according to Societe Generale Private Banking (SGPB) Hambros chief investment officer Eric Verleyen.

Julius Baer AuM up 11% with new record high

Julius Baer Group’s assets under management (AuM) have reached new highs as the private bank reported an 11% rise in AuM on a full year basis.

UK UHNWI turn to US real estate in 40% return rush: Stonehage

UK’s ultra high net worth individuals (UHNWI) are turning to US real estate following a 40% surge in returns in 2012, says the Stonehage Group.

Julius Baer finalises acquisition of Merrill, begins integration

Swiss private bank Julius Baer has announced the finalisation of its acquisition of Merrill Lynch’s international wealth management business (IWM) outside the US from Bank of America (BofA).