Banking & Private Wealth Management Blog

15 Years After Big Merger Citi Still Has Legacy IT Issues


When Vikram Pandit was abruptly ousted as Citigroup Inc's (C.N) chief executive late last year, senior bank employees speculated …

RBS Said Preparing To Chop More Heads


It's time to keep your head down.


The Wall Street Journal reports that Royal Bank of Scotland, which is making cuts to its …

StanChart's Private Bank Names Ex-Societe Generale Veteran To Senior Asia Post


Standard Chartered Private Bank has appointed Stephen So as head of investment advisory for North East Asia, effective immediately. …

Qatar First Bank To Launch Wealth Management Services


Qatar First Bank, Qatar’s first independent Shariah-compliant bank regulated by the Qatar Financial Centre regulatory authority, …

Coutts sale 'not on the agenda' says private bank's international head…..but is it only a matter of time?


Coutts is not up for sale despite a drive by Royal Bank of Scotland (RBS) to slim down its balance sheet.


'RBS is getting …

South African-Based Bank Names Head For Asia, Middle East Operations


The private banking arm of South African Nedbank has appointed Andrew Bates to head of its Middle East and Asia operation. …

Merrill bias suit: Women employees claim they were given book urging them to 'stroke men's egos' to advance


Female trainees at Merrill Lynch’s flagship Manhattan office were given copies of “Seducing the Boys Club: Uncensored Tactics …

SMBC to buy SocGen's Japan private banking business


Sumitomo Mitsui Banking Corp (SMBC) said on Wednesday it has agreed to buy Societe Generale's private banking business in …

Credit Suisse sees more shakeups in Asia private banking


With a cost-to-income ratio of at least 80 percent, most private banks are losing money even as the ranks of the rich explode …

Asia chief Stewart Edgar exits BNPP IP

BNP Paribas Investment Partners’ Asia-Pacific chief executive, Stewart Edgar, left the French firm earlier this month. He …

Is Mandarin the New Language of Private Banking?

The number of ultra-high net worth individuals (UHNW) with assets of $30 million and above in Asia has increased exponentially …

A New Wealth Management Industry Mandate

Clients are mad as hell, and they're not going to take it anymore—unless the industry makes some changes. Speaking at the …

Nasdaq Fined $10 Million By SEC Over Law Violations During Facebook IPO

The US stock exchange Nasdaq is to pay a $10 million penalty after the Securities and Exchange Commission charged it with …

The Role Of The Advisor Is Changing, Poll Finds

Despite prevailing concerns about the economy, advisors are confident in their businesses - and their roles are changing, …

Cayman Islands Hits Back At Columnist's Claims

The promotional organization for the Cayman Islands’ financial industry has written a sharply worded defence of the jurisdiction …

Another New Head Of Strategic Recruiting For Credit Suisse In Asia-Pacific

Leading industry publication, Wealthbriefing Asia has reported that that James Harley will take over as the new head of strategic …

Julius Bär eyes Asian clients after Bank of America Merrill Lynch acquisition

Swiss private bank Julius Bär is aiming to have a majority of its clients from Asia after it acquired Bank of America Merrill …

UBS Intends To Boost African Wealth Management To Tap Continent's Growth

UBS intends to expand its wealth management operations in Africa to tap the continent’s rising economic potential, where growth …

India-Listed Dion Signs Up Veteran Australian Wealth Management House

India-listed Dion Global Solutions, the financial technology firm, has deployed a new advisory front-end tool called TradeCentre …

Fund managers skip Asia's first Basel III Tier 1

Institutional investors largely passed on Asia's first Basel III-compliant Tier 1 bond last week in an issue that underscored …

UBS Leading Southeast Asia Stock Sales on Billionaire Deals

UBS AG (UBSN) jumped to the lead among share-sale underwriters in Southeast Asia for the first time in six years, capitalizing …

Cost of weeding out criminals and tax cheats hits private banks

Private banks managing the financial affairs of the world's wealthy face spending millions of dollars every year on vetting …

UBS profit beats forecasts despite U.S. mortgage suit settlement

UBS's second-quarter profit beat forecasts even though it agreed to settle a lawsuit with the U.S. housing regulator over …

Which Gen?

The private wealth management industry has recently directed its focus to the “Next Gen.”  Originally a term used in the technology …

Wealth Managers Wooing Gen Y Heirs with Conferences and Workshops

Wealth management firms are stepping up their efforts to woo young heirs to family fortunes.


Morgan Stanley Smith Barney will …

Coutts Names New Head Of Marketing, UK Business Development

Coutts, the UK-headquartered private bank, has appointed Sarah Wyse to the newly-created role of managing director, head of …

Singapore, And Raft Of Other Jurisdictions Sign Information Exchange Pacts

Austria, Luxembourg and Singapore have along with six other jurisdictions signed up to tax protocols that will enable the …

Report Says Hong Kong's Mutual Fund Industry Must Sharpen Up Its Act

Hong Kong’s mutual fund investors gave a relatively low ranking for the jurisdiction’s industry, while places such as Singapore, …

HSBC says private bank in need of ‘tidy-up’

HSBC is working hard to convince investors that its commitment to its private bank is rock solid, despite a number of European …

India’s Axis Bank cleared to open first China branch

Axis Bank, India’s third-largest private sector bank, is set to open its first branch in China within the next three months, …

Barclays appoints Abu Dhabi Head of Wealth and Investment Management

Barclays announced the appointment of Haidar Hammoud as Head of Wealth and Investment Management for the Emirate of Abu Dhabi. …

Is Private Banking in China Still a Pipe Dream?

On Friday, a joint statement from regulators and the People's Bank of China, China’s central bank, said they were considering – …

True interview bloopers - would you do this ?

Here are a few examples of how candidates fouled up at interview:


One candidate dozed off, and actually started to snore.


Sallie Krawcheck To Buy Global Women's Network, 85 Broads

Sallie Krawcheck has agreed to buy 85 Broads from founder, entrepreneur and former Goldman Sachs executive, Janet Hanson.


Half of Banks Have Punished Employees for Corruption, E&Y Says

Half of financial firms with an anti-corruption policy have punished employees who have breached regulations, according to …

Butterfield Caters To High Net Worth Clients With Account Launch

Butterfield Private Bank, part of the Bermuda-headquartered Butterfield Group, has launched a six month, fixed-term deposit …

Citi Private Bank: Reaping Rewards From Client Feedback

Many believe that cash-rich, time-poor HNW clients simply cannot be bothered to fill in questionnaires on the performance …

JPMorgan May Evade Power-Trading Ban With Swaps, ISO Says

A JPMorgan Chase & Co. (JPM) unit suspended from market-based power trading in California may be evading the ban through swap …

Chinese Regulator Shuts Door On Wealth Management Product Manoeuvre

The Chinese bond market regulator has closed a loophole that had allowed banks selling high-yield wealth management products …

UK, US, Australia Join Forces In Offshore Tax Evasion Probe

The UK's HM Revenue and Customs is working with the US and Australian tax administrations to investigate hundreds of accountants, …

Paschi Main Investor to Sue Nomura, Deutsche Bank, Ex Managers

Banca Monte dei Paschi di Siena SpA’s largest shareholder has decided to sue two of the Italian bank’s former managers including …

Credit Suisse to face $700m lawsuit

Credit Suisse (CSGN.VX) is facing a $700 million (469 million pounds) court battle in London next October with a Georgian …

Rick Capozzi Joins TD Wealth as Head of National Sales

TD Wealth® has appointed Rick Capozzi as Senior Vice President and Head of National Sales. TD Wealth provides clients with …

Enron's Jeff Skilling in Deal to Exit Prison in 2017

Former Enron CEO Jeffrey Skilling would be out of prison as early as 2017-more than 10 years early-under a proposed sentencing …

Swiss Banks Given Green Light To Pass On Data

Swiss banks in the cross-hairs of the US authorities are now allowed to pass certain kinds of data to the US, after the Swiss …

Temenos Integration Framework now generally available

Temenos (SIX: TEMN), the market leading provider of mission critical solutions to the financial services industry, today announces …

Credit Suisse Crowned King Of HNW Client Apps; Research Finds Industry Shortcomings In Mobile World

Wealth managers have come a long way with their mobile app offerings aimed at high net worth clients, but “critical shortcomings” …

Julius Baer Confident Merrill Lynch IWM Marriage Will Prove A Success

This week’s announcement that Julius Baer is starting to bring over the UK assets acquired last year from Bank of America …

Deutsche Bank Adds New Chief Country Officer

Deutsche Bank, Germany’s largest bank, has appointed Philip Lee as chief country officer for Singapore and vice chairman for …

Ashvin Chhabra Rejoins Merrill Lynch Wealth Management As CIO

Ashvin Chhabra is rejoining Merrill Lynch Wealth Management as chief investment officer and head of investment management …

Swiss bank Frey eyes U.S. branch to head off tax probe - sources

Switzerland's Bank Frey may seek to open in the United States and bring American customers onshore in an attempt to fend off …

Study Reveals The Changing Face Of Retirement

Today’s retirees are embracing the “longevity bonus” by pursuing new interests and spending more time with family and friends, …

Technology: Next generation of clients forces pace of IT change

Any retail high street bank chief will tell you that IT investment and development is critical in maintaining loyalty in a …

UBS Appoints John Mathews Head of Private Wealth Management

UBS AG, Switzerland’s biggest bank, named John Mathews head of private wealth management, responsible for its Americas’ ultra-…

Private banks and wealth managers urged to copy luxury sector on service

Wealth managers and private banks have been urged to copy the customer service offered in the luxury goods sector if they …

Australia's BT's performance worth crowing about

One of the sleeper issues in this season's bank results will be the contribution from their wealth management business, which …

BNP Paribas, Societe Generale Pay Price For Domestic Market Slump

BNP Paribas SA (BNP), Societe Generale SA (GLE) and Credit Agricole SA (ACA), which spent much of the European-crisis years …

Women: We Don’t Need Special Favours - Just A Level Playing Field

The great debate. By Fiona Thorne


In recent weeks the long running debate about positive discrimination in favour of women …

Connecticut Firm To Pay $21.5 Million In Settling SEC Insider Trading Charges

Greenwich, CT-based Level Global Investors, the hedge fund advisory firm, has agreed to pay over $21.5 million to settle charges …

French Bank Hires New MD Private Banking For Singapore

Credit Industriel et Commercial, the French banking group, has appointed Bruno Morel to managing director, private banking, …

HSBC's Swiss Private Bank Retreats From Mediterranean After Money Laundering Case

HSBC has seen its Swiss private bank sharply cut its Mediterranean team after a former employee was convicted of laundering …

EFG Private Bank's £4.2m Fine Should Scare Banks into Stricter Anti-Money Laundering Controls

Last week, EFG Private Bank Ltd, the UK arm of the Switzerland-based EFGI Group, was fined £4.2 million for failing to establish …

ANZ wins final approvals to open in Myanmar

ANZ joins other financial institutions queuing up to tap into Myanmar’s nascent but fast-growing financial markets. However, …

CIMB scraps Philippine bank acquisition

The Malaysian bank is left with a gap in the Philippines after failing to agree on the final terms with San Miguel and the …

© Nick Kalikajaros 2017