Banking & Private Wealth Management Blog

Pre-Tax Income Rises At BNP Paribas' Wealth, Investment Arm


Paris-listed BNP Paribas said its investment solutions arm – which contains its wealth management business – logged a pre-…

Vontobel's asset, wealth management drive profit rise


Vontobel Holding (VONN.S) on Wednesday reported a 20 percent rise in first-half profit from a year earlier and strong inflows …

JPMorgan Accused by Siena Prosecutors in Monte Paschi Probe


Siena prosecutors accused JPMorgan Chase & Co. (JPM) and at least one of its employees of obstructing regulators as part …

M&A Wave Causing Client Dissatisfaction To Soar


Service standards seem to be slipping as a result of heightened M&A activity in the wealth management space and client dissatisfaction …

Bank of Sharjah net profit up 15%


Bank of Sharjah recorded a half yearly net profit of Dh144 million, an increase of 15 per cent compared to the corresponding …

StanChart Announces Senior Private Banking Hire, New Product In North East Asia And China


Standard Chartered Private Bank has bolstered its North East Asia advisory team with the appointment of new head of fund …

SFC Fines Hong Kong Investment Firm For Lack Of Internal Controls


The Securities and Futures Commission, Hong Kong's financial regulatory body, has fined an investment firm HK$1.2 million ($…

Security Emerges As "New Wrinkle" In Technology Concerns Among Family Offices - FOX Survey


Finding a software solution that integrates financial data across multiple functions is still a top technology concern among …

Australia - Champ Private Equity Seeks Buyer for Stake in Centric Wealth


Champ Private Equity has hired Macquarie Group Ltd. to sell its 75% stake in Centric Wealth, according to a person familiar …

Switzerland Pays UK, Austria SFr900 Million As Part Of Tax Agreement


The Swiss tax authority has transferred approximately SFr900 million ($964 million) to Austrian and UK tax authorities as …

6 key points of Abu Dhabi's $40bn oil plan


State owned energy producer Abu Dhabi National Oil Company is halfway through a $40 billion investment plan


Speaking at a …

Ex-HSBC Private Bank Director Joins JP Morgan Private Wealth Management


JP Morgan Private Wealth Management has hired a former HSBC Private Bank director to join its Singapore office as executive …

Barclays Names Regional Head Of North Asia


Barclays, the UK-headquartered bank, has announced a new wealth management head for North Asia.


Vivian Chan assumes the position …

Barings Names New Head Of Marketing, Asia


Baring Asset Management, the London-headquartered investment house which is part of MassMutual Financial Group, has appointed …

MAS Says Singapore's Economy, Banks Are Robust; Highlights AML Stance, Debt Concerns


Singapore’s financial sector is in robust shape and not a soft touch for purveyors of shady money, the head of the city-state’s …

UBS and Standard Chartered Partner With Business School


UBS and Standard Chartered Private Bank have joined Jersey International Business School’s work support programme for the …

Emirates NBD Reports 16 Per Cent Rise In Q2 Profit


Emirates NBD, the banking group covering activities including wealth management, said that it logged a net profit for the …

Pivot, tweak or pounce: Strategic challenges in wealth management


WEALTH-management firms that want to survive these increasing pressures and succeed in the new environment have a number …

Bank of America denies report on Australia CEO successor search


Bank of America-Merrill Lynch (BAML) has denied a media report claiming the US bank is searching for a new head for its Australian …

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 …

ITA To Acquire Standard Chartered Trust (Cayman)


ITA Cayman Holdings is to acquire Standard Chartered Trust (Cayman), along with the firm’s clients from Latin America.


Until …

RMs' Anti-Money Laundering Duties In The UK


Relationship managers in certain countries are reportedly being held to greater account than before for their compliance …

Sanctions Against Banks: What Happens When The Authorities Get It Wrong


When governments and the supranational bodies of which they are members attempt to use the mechanism of “sanctions” to drive …

Standard Chartered Exec Joins Hong Leong Bank As COO


Hong Leong Bank, the Malaysia financial services firm, has named a new chief operating officer for its asset and liability …

Coutts Continues To Add To Singapore Business


Coutts, the flagship wealth management brand of Royal Bank of Scotland Group, has made two new additions to its Singapore …

Wealth Management Software House Adds Sales Director


Third Financial Software, the UK wealth management software vendor, has appointed Roland Jones as its sales director. He …

Credit Suisse Names Head Of Hong Kong, China Research and Sales


Credit Suisse, the Swiss bank, has appointed a new senior executive for its Hong Kong and China business.


Thomas Wong has …

Bennelong Expands Australian Wealth Management Coverage


Bennelong Group, the Australian investment management group, has acquired a controlling stake in local wealth manager Carnbrea & …

Société Générale Receives Financial Investment Business Licence In South Korea


Société Générale Corporate and Investment Banking has received a Financial Investment Business Licence in Korea by the Republic …

Chinese Wealth Management Trio Launch New Asset Securitisation Product


China Financial Services, the Beijing-based financing firm, has partnered with two other local investment management firms …

Barclays Moves Asia Pac Chief Operating Officer To MENA Region


Barclays, the UK-headquartered private bank, has appointed Cedric Lizin as head of Middle East and North Africa, in its wealth …

Wealth managers fire warning shot over ‘super clean’ fund deals


A number of wealth managers have privately warned fund groups they will be less inclined to recommend funds which give preferential …

Swiss Banks Seek Permission to Send Data in U.S. Probe


Credit Suisse and Julius Baer are among five Swiss banks which have sought government approval to hand data to U.S. prosecutors …

Why banks are stepping up global IT hiring

Has there ever been a time when the banking industry was not dependent on technology for growth? For as long as I can remember, …

Netwealth Adds Non-Executive Director To Board


Australian wealth management firm netwealth has expanded its board with the appointment of a non-executive director.


Kate …

Woori Investment Enters Distribution Partnership With NY Firm For South Korea, Asia


Woori Investment & Securities, the Seoul-headquartered investment firm, has partnered with New York alternative investment …

Credit Suisse Australia pays $95,000 infringement notice


Credit Suisse Equities Australia has been fined $95,000 by the Markets Disciplinary Panel (MDP) for not having in place adequate …

Report - 10 UBS offices searched


Prosecutors have searched 10 offices of UBS in Germany in connection with an ongoing probe of tax avoidance by the Swiss …

New China CITIC Bank Offer Supports Wealth Creation Initiatives


China CITIC Bank has rolled out a new securities trading offer that seeks to give clients a greater advantage in wealth creation.


EU Bonus Cap Hits Bank-Owned Asset Managers


Bank-owned asset managers will not be looking forward to a big payday as their employees will be subject to tough new EU …

World's Private Banking Industry Revived In 2012; UBS Earns Top Spot As New League Emerges


Net new money across the global private banking industry made a sharp turnaround in 2012, with the top 20 players by size …

Bank Sarasin, Safra Group Merged Entity Unveils Its New Name In Asia

Bank J Safra Sarasin, the resulting entity from the merger of Bank Sarasin and Bank J Safra, has begun adopting its name in …

LIBOR Gets New US Owner


The search for a new owner for the London Interbank Offered Rate — the benchmark for short-term interest rates with a notional …

Assets of top 100 alternative investment managers hit USD3 trillion


Total assets managed by the top 100 alternative investment managers globally reached US$3.1 trillion in 2012, according to …

Singapore's MAS To Adopt Stricter Standards Against Financial Crime


The Monetary Authority of Singapore, the city-state's financial regulatory body, is stepping up efforts to combat money laundering …

Amundi Appoints Nordic Head Of Distribution

The French global equity giant Amundi has announced the recruitment of Christopher Crystal as head of distribution in the …

Hong Kong Wealth Manager Agrees To Acquisition By Canadian Firm


League Financial Partners, the Canadian financial services group, has acquired Hong Kong wealth management firm Harris Fraser.


Credit Suisse Hires Former Regulator General Counsel For Tax Compliance Role

Credit Suisse has appointed a former general counsel at Switzerland’s financial regulator to develop its tax compliance strategy, …

© Nick Kalikajaros 2017