14 May 2013
Northern Trust Hedge Fund Services has launched an online regulatory module to streamline the preparation and submission of Form PF filings, as required by recent rules introduced by the Securities and Exchange Commission and Commodity Futures Trading Commission. The tool will help clients meet Form PF and other emerging regulatory requirements through a combination of technology, consultative support, and data aggregation and reporting services, Northern Trust said . Northern Trust Hedge Fund Services staff and clients will use the application as a workflow tool to streamline the process of drafting, reviewing and finalizing Form PF filings.
8 May 2013
Sendero Wealth Management, a San Antonio, TX-based wealth management firm, has expanded its footprint to Dallas, the San Antonio Business Journal reports. As part of its expansion Sendero has hired John Stanley Stevenson to lead its operations in North Texas, as managing director of the new office . Stevenson has a 20-year background in the wealth management advice industry, having worked at Northern Trust and Belmont Wealth Management, the report says.
6 May 2013
RBC Wealth Management added to its team in Texas and promoted staff at branches in Florida and Washington. In Austin, TX, Glen Hatch joined as branch director . He took up the role on April 22, having formerly been Austin branch manager for Morgan Stanley, where he spent eight years.
2 May 2013
Umpqua Bank, part of Umpqua Holdings, is expanding its private banking division into the Puget Sound region of Washington, hiring from Wells Fargo Private Bank to staff the new operation. Elise Fortin, who has been in the wealth management industry for around 25 years, is joining Umpqua as senior vice president and market leader, responsible for the private banking team serving clients in Seattle and the surrounding area . Fortin was latterly a senior vice president at Wells Fargo Private Bank and has also worked in senior sales and business roles at US Trust, Northern Trust, Key Bank and First Union Bank.
1 May 2013
Chicago-based Northern Trust has named Ronnie Powell has head of the Austin, TX, region, where he will lead a team of people dedicated to wealth preservation and growth. Powell has been with the firm since 2006, when he joined after a career working with both Merrill Lynch and Smith Barney in Dallas, TX . In his new role he replaces Craig Falls, who has left the firm.
29 April 2013
Here is a roundup of Q1, 2013 wealth management results from the largest US banks. The numbers may be revised later.
17 April 2013
Chicago, IL-based Northern Trust has reported that net income was $164 million for the first quarter of 2013, up 2 per cent year-on-year from $161. 2 million, but down 2 per cent from $167 . 7 million in Q1 2012.
11 April 2013
Investment managers turned more upbeat about the US economy in the first quarter of 2013, as they looked beyond Washington’s budgetary gridlock and turned their heads to improving US economic fundamentals, according to Northern Trust's latest quarterly survey. Most of the around 100 investment managers surveyed in mid-March expect the automatic budget cuts to remain in place until the end of the quarter, while 37 per cent anticipate that spending reductions will have a negative impact on US equity markets, Northern Trust said . However, over half (56 per cent) said sequestration would have a neutral impact on markets, while an overwhelming 96 per cent predict that the economic effects will either be in line with, or less severe than, current forecasts of a 1 per cent reduction or less in US GDP.
10 April 2013
Chicago, IL-based William Blair & Company has hired John Zielinski and the team of John Baker Welch and Anthony Faut as private client advisors. Zielinski was latterly a senior vice president at Capital Group Private Client Services and has also previously worked at Lehman Brothers Asset Management and The Northern Trust . Welch spent the last 25 years at Rothschild Investment Corporation, most recently as a partner and portfolio manager.
2 April 2013
Withers Bergman ramped up its offering for clients with complex cross-border tax affairs with a new partner on the team. Patrick Cox joined Withers Bergman’s international corporate tax group from Brown Rudnick, where he was chair of the firm’s tax group . He helps clients develop effective tax strategies for cross-border and domestic business transactions.
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