All articles by Pooja Kondhia
Pooja Kondhia
Citi Private Bank sells part of its US Trust business
Citi Private Bank is selling part of its US trust business to privately held wealth management company Reliance Financial Corporation, as part of its strategy to reduce non-core assets.
Julius Baer increases further share capital for its IWM business
Julius Baer is to increase its capital as part of consideration for the International Wealth Management (IWM) business it acquired from Bank of America (BofA) Merrill Lynch in August 2012.
JP Morgans Private Bank posts solid Q4 and full year results
JP Morgans private banking business has seen an increase in both its fourth quarter and overall full year revenue.
Bedell Trust expands services to include family office offering
Jersey headquartered wealth management company Bedell Trust has expanded its services offered to clients with the addition of an existing single office to its team.
Swiss bankers charged with conspiracy to hide US money in off-shore accounts
Three Swiss bankers, believed to be from Zürcher Kantonalbank (ZKB), have been charged by US Attorney of the Southern District of New York for conspiring to hide more than $420 million in Swiss bank accounts.
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Mirabaud strengthens wealth management operations in Spain
Swiss company Mirabaud has strengthened its wealth management operations in Spain with the opening of a new office in Valencia.
Sir Keith Mills settles with Coutts out of court
Businessman Sir Keith Mills has settled with Coutts after taking the private bank to court for allegedly mis-selling him AIG bond products and inadequately explaining the risks associated with the bonds.
Deutsche integrates Sal Oppenheim and Russian units
Deutsche Bank has integrated its Sal Oppenheim subsidiary in Switzerland into its group asset and wealth management division after similar integrations in Germany and Russia over the past month.
HSBC and Standard Chartered fined $2.2bn by US authorities
UK bank HSBC group has agreed to pay US authorities $1.92bn in relation to investigations regarding inadequate compliance with anti-money laundering (AML) and sanction laws. Standard Chartered has also settled with US authorities for $327m in connection with historical sanctions compliance and U.S. dollar payment practices.
Switzerlands 300 richest see their wealth increase this year
The wealth of Switzerland’s 300 richest people has increased by CHF31bn ($33bn) this year, pushing their combined total wealth well past CHF500bn.