All articles by Lizabeth Davis

Lizabeth Davis

AUM grows at Vontobel, restructures German business

Vontobel Group has reported a steady inflow of new money in the first ten months of 2012 and announced a restructure of its German-focussed business.

Operating income drops 35%, AUM up at SocGen

Societe Generale Private Banking (SGPB) reported a 42.9% drop in contribution to group net income, to €16m ($20m) from €28m year-on-year, in its 2012 third quarter results.

AUM rise, revenue declines at BNP Paribas

BNP Paribas wealth management unit reported a 7.1% increase in assets under management in its 2012 third quarter results year-on-year.

RBS Wealth’s operating profit jumps 44%

Strong growth in income at RBS’s wealth division drove a 44% leap in operating profit year-on-year to £65m ($104m) in the third quarter of 2012, up from £45m in 2011.

Lloyds plans to develop WM arm on track

Lloyds Banking Group said in its Q3 results that it was making good progress in strengthening its wealth, asset finance and international arm.

FSA prosecutes two disqualified advisers

The UK’s Financial Services Authority (FSA) has taken action against two prohibited investment advisers in two separate investigations.

Quilter in advanced talks with Cheviot AM

UK wealth manager Quilter has confirmed that it is in advanced discussions with Cheviot Asset Management, following plans for further acquisitions.

Julius Baer raises $492m to fund Merrill deal

Julius Baer said today that it has raised 99.91% of the rights offer it set out in relation to its acquisition of Merrill Lynch’s international wealth management business from Bank of America (BofA).

Japanese regulator slaps SocGen with suspension

Société Générale Private Banking Japan (SGPBJ) has been reprimanded by Japan’s Financial Services Agency (JFSA) and forced to suspend some of its private banking activities till the end of January.

Dexia closes sale of AM unit to Precision

Franco-Belgian bank Dexia has completed the sale of its asset management arm, Dexia Banque Internationale a Luxembourg (BIL), to Precision Capital.