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…
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Lizabeth Davis
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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…
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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…
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RBS Wealths operating profit jumps 44%
Strong growth in income at RBSs wealth division drove a 44% leap in operating profit year-on-year to £65m ($104m)…
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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…
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FSA prosecutes two disqualified advisers
The UKs Financial Services Authority (FSA) has taken action against two prohibited investment advisers in two separate investigations.
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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…
ByJulius 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…
ByJapanese regulator slaps SocGen with suspension
Société Générale Private Banking Japan (SGPBJ) has been reprimanded by Japans Financial Services Agency (JFSA) and forced to suspend…
ByDexia 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…
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Credit Suisse:global household wealth down 5.2%
Global household wealth dropped 5.2% to $223trn from mid-2011 to mid- 2012 due to the economic downturn Credit Suisse…
BySocGen sells Canadian WM Group to Fiera Capital
Societe Generale Private Banking (SGPB) has sold the Canadian subsidiary it bought in 2008, Canadian Wealth Management Group (CWM),…
ByWM websites still failing, new research shows
The Wealth Management Websites That Win Clients 2012 report conducted by Swiss research company MyPrivateBanking, found that the quality…
ByDecline in WM M&A valuations set to continue
Wealth management mergers and acquisitions (M&A) valuations benchmark has fallen to 2% of assets under management (AUM), and looks…
ByBCG: Wealth managers grow stake in AM market
Wealth managers have benefited from distributing and developing investment products allowing them to win business from asset managers, new…
ByCredit Suisse asset outflows could top CHF35bn
Speaking at the Barclays Global Financial Services Conference in New York, Credit Suisse finance chief, David Mathers, said that…
By60% of family businesses soar despite downturn
Almost two-thirds of family businesses have reported revenue growth of at least 5% in the prior year outperforming many…
ByUS bank opens flagship WM centre in San Francisco
San Francisco-headquartered Bank of the West, which is a subsidiary of BNP Paribas, has opened a flagship wealth management…
BySkandia International strengthens team in Asia
Skandia International, the offshore business of Old Mutual Wealth Management, has made three senior appointments in Singapore and Hong…
ByCitibank opens wealth management service in South Korea
Citibank Korea has launched its firstCitigold Private Client centre, a wealth management service for high net worth individuals (HNWIs).…
ByBarclays boosts wealth management team
Barclays has appointed Edward Moldaver as managing director of its wealth and investment management division in New York Moldavers…
ByTax issues lead to $36m net income drop at RBC
Royal Bank of Canadas (RBC) wealth management division reported a $36m year-on-year drop in net income to $156m ($157m)…
ByAntony Jenkins named as new Barclays CEO
Jenkins who currently heads Barclays retail and business banking (RBB) division has been appointed as a director and group…
ByLGT 1H group profits soar 58%
The international private banking and asset management group which saw a decline in profits at the same period last…
ByPaul Patterson appointed deputy chair at RBC WM
Paul Patterson is to become deputy chair ultra high net worth (UHNW) international at RBC Wealth Management following recent…
ByBarclays and Asba discuss combination in Africa
Asba, a subsidiary of Barclays, said that the two groups are currently in talks about combining the majority of…
ByBarclays launches IAM service in Singapore
Barclays has created an independent asset managers (IAM) team in Singapore in hopes of driving further, growth in its…
BySunGard’s Top 10 Asian wealth trends
IT provider SunGard has identified ten key trends that are heavily influencing Asias wealth management and private banking industry.…
BySteep rise in investor sentiment: Merrill Lynch
There has been a sharp rise in investor sentiment this month the Bank of America Merrill Lynch (BofA) survey…
ByStonehage urges caution over gold investments
UK-based multi-family office Stonehage Group has warned investors in gold suggesting they take a neutral stance in investing in…
ByAsset inflows buoy pre-tax slump at BNP Paribas
BNP Paribas reported a 28% pre-tax income slump at its wealth and asset management divisions on a year-on-year basis.…
BySafra completes Sarasin buy-out
Safra Group has completed its acquisition of Rabobanks majority stake in Bank Sarasin and has launched its offer for…
ByArbuthnot Latham reports soaring profit hike
Arbuthnot Groups private banking subsidiary, Arbuthnot Latham reported a 40% jump in profits year-on-year to £1.4m in the first…
ByLloyds wealth and asset arm posts £995m H1 loss
However there was substantial growth reported in its wealth division where the retail bank made a profit of 17…
ByFormer HSBC employee arrested over stolen data
Former HSBC employee Herve Falciani has been arrested in Spain at the request of Swiss authorities seeking his extradition…
ByEFG net profit down 5%, AuM dips in H1
EFG Internationals IFRS net profit dropped 5% in the first half of 2012 to CHF53.1m ($54.2m), down from CHF55.9m…
ByHSBC shuts Irish private banking division
HSBC has closed its private bank and wealth management division in Ireland. HSBC confirmed to PBI that the Dublin-based…
ByCiti Q2 revenues dip 1%, up 3% year-on-year
Citi Private Bank revenues were to $570m as at 30 June, representing a 3% year-on-year growth, compared with $555m…
BySociété Générale to repay misled HK clients $11m
Socit Gnrale is to pay $11m to clients after the bank failed to inform them about the full fees…
ByUBS restructures UK and Jersey product division
UBS has reorganised its investment and products and services (IPS) division across the UK and Jersey The news, which…
ByMalta sign DTA with Switzerland
The double taxation agreement (DTA) between Switzerland and the Republic of Malta has come into force.
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