15 May 2013
Systematically soliciting feedback from clients and then using this strategically might seem to be a “no-brainer,” but as yet this seems to be anything but the norm in today’s wealth management industry, according to sister publication WealthBriefing’s latest research report, The New Normal: Codifying Superior Client Experience In Wealth Management. (This report is free to download as part of Family Wealth Report member benefits, as is access to an extensive webcast of senior executives discussing its findings) . Produced in association with Barclays Wealth and Investment Management, this groundbreaking research report is based on a survey of 346 industry professionals all around the world, along with 25 hours of interviews with 30 senior executives at leading wealth managers, consultancies and other pertinent organizations.
13 May 2013
Here, top executives at Citi Private Bank explain how the bank’s “Voice of the Client” initiative has rapidly gained traction among both staff and clients.
9 May 2013
Michael Silver and Eric Sheikowitz, senior managing partners at Focus Partners, a coaching and consulting organization launched in 2006, are in the business of training advisors to "wow" clients.
19 April 2013
The wealth and investment management division of UK-listed Barclays said its chief executive, Tom Kalaris, will retire from the bank, effective June 30. In addition to his role as CEO WIM at Barclays, Kalaris is also an executive chairman of Barclays in the Americas and will step down from this position at the end of June . He will step down from the Barclays executive committee at the end of this month.
8 February 2013
The wealth and investment management division of Barclays has brought in 16 investment representatives from a host of firms including Goldman Sachs, BNY Mellon, US Trust and Credit Suisse, across seven US offices. New York Joining the New York office from Deutsche Bank’s markets coverage group is Ramon Hache, a managing director, and directors Stephen Brazell and Joseph Chung . Hache spent the previous 10 years working with high net worth individuals and family offices based primarily in Latin America.
22 January 2013
Barclays has reiterated its commitment to changing the culture, responding to a newspaper report saying that a former chief operating officer at the UK-listed bank’s wealth arm had quit after revealing he secretly destroyed a damaging report about the lender. The UK’s Mail on Sunday newspaper said Andrew Tinney destroyed an “explosive dossier” after reading its contents . “He then misled banking regulators and Barclays chief executive Antony Jenkins – the man brought in to clean up the bank after the Libor rate-fixing scandal and the resignation of Bob Diamond – by pretending that the report had never existed.
6 September 2012
Barclays has added Edward Moldaver, managing director, and his five-strong team from Morgan Stanley Smith Barney to its New York wealth and investment management division. Moldaver reports to Mark Stevenson, managing director and regional manager for New York . His team, which includes former New York Jets player Wayne Chrebet, joins Barclays from the global wealth management division of MSSB.
10 July 2012
Matthew Erskine, principal of The Erskine Company, a strategic advisory firm located in Worcester, MA, discusses the effects on the investment climate of high government debt, and why specialized planning may be necessary.
13 June 2012
Morgan Stanley's brokerage joint venture with Citigroup unit, Morgan Stanley Smith Barney, will eventually remove the Smith Barney name, the US bank’s chief executive reportedly said yesterday. There has been speculation for some time that the Smith Barney name would eventually disappear but this is the first time that Morgan Stanley CEO James Gorman has stated the change in brand . The firm will be called Morgan Stanley Wealth Management.
14 May 2012
Editor’s note: Here is a summary of first-quarter results for private banks and wealth management firms. While all possible care has been taken to present results accurately, not all of the figures here may be strictly comparable . UBS Switzerland’s largest bank said wealth management pre-tax profit was SFr803 million ($1.
News and Features
Comment and Analysis
Zürcher Kantonalbank, the biggest Swiss cantonal bank, expects to pay a fine to US authorities as part of a deferred prosecution agreement for its alleged role in helping US citizens evade taxes, media reports said.
24 May 2013
Here Diane Harrison, principal and owner of Panegyric Marketing, argues that the debate over fees in the hedge fund industry often focuses on the wrong topics.
20 March 2013
Here, Jimmy Chang, a senior portfolio manager and a managing director of Rockefeller & Co, discusses some issues around investing in the current environment.
4 April 2013
The period between 2008 and 2012 saw an uptick in risk reviewing business at New York’s Rothstein Kass Family Offices Group, says partner Evan Jehle.
9 April 2013
Building functionality into a family’s business affairs involves defining each person’s role but it’s never easy to think differently about family members who were children at the dinner table, but are now adults around the board table.
8 April 2013
Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.
25 March 2013