Royal Bank of Scotland
Wealth, Investment Profits Rise At Barclays; CEO Vows Culture Change To Continue
12 February 2013
The wealth and investment management division of UK-listed Barclays logged an adjusted pre-tax profit of £115 million ($180 million) in the fourth quarter of 2012, almost double the level in the same three months of 2011, at £60 million, it said today. For Barclays as a whole, its adjusted pre-tax profit fell to £1 . 094 billion from £2.
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RBS In "Late-Stage" Talks With US Over LIBOR
6 February 2013
The Royal Bank of Scotland has confirmed that it is in “late-stage” settlement discussions with US authorities over the recent LIBOR allegations. Although the settlements are yet to be agreed, RBS expects they will include the payment of significant penalties as well as certain other sanctions, the firm said in a statement . In connection with the LIBOR allegations, it has been widely reported in the media that RBS’s chief executive of market and international banking, John Hourican, will resign, forfeiting a bonus worth £4 million (around $6 million).
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US Pushes For Criminal Charge Against RBS Over LIBOR - Report
30 January 2013
A roughly $790 million settlement deal over LIBOR allegations between US authorities and Royal Bank of Scotland could be completed within the next two weeks, the Wall Street Journal reports, citing “people briefed on the negotiations”. The settlement would result in a unit of RBS - possibly one based in Asia - pleading guilty to criminal charges, in addition to paying a penalty, the report said . RBS declined to comment on the WSJ article when contacted by this publication.
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EXCLUSIVE: US Brokerage, Wealth Manager Rockets Into Number One Slot For Social Media Provision
28 November 2012
Charles Schwab has rocketed straight into the number one spot in the 2012 social media rankings of wealth managers produced by MyPrivateBanking Research, Family Wealth Report can reveal.
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Commerzbank Involved In Iran Investigations Since 2010
23 August 2012
Commerzbank is the latest bank to hit the headlines for US-based transactions involving Iran, but Germany's second biggest lender defends itself saying this has been public knowledge for two yeas. Earlier this month, UK-listed Standard Chartered, which earns the bulk of its revenues outside the UK, agreed to pay a $340 million settlement with US authorities relating to Iran transactions . This week it was reported in UK press that Royal Bank of Scotland is being investigated for possible breaches of US sanctions against the Middle Eastern regime.
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US Authorities Widen Iran Sanctions Probe To Another UK Bank
22 August 2012
Another major UK bank in the form of Royal Bank of Scotland is being investigated for possible breaches of US sanctions against Iran, according to media reports.
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Summary Of Quarterly, Interim Wealth Managers' Results
16 August 2012
Editor’s note: Here is a summary of the results for the second quarter/half-year for the world’s major wealth management firms. Not all of the institutions here are strictly comparable, so the results need to be interpreted with that point in mind . Some of the figures may, for various reasons, be subsequently revised.
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US Authorities Subpoena Raft Of Major Banks Over LIBOR Claims
16 August 2012
JP Morgan, Deutsche Bank and Barclays are among a handful of banks recently subpoenaed in a joint New York-Connecticut probe of possible manipulation of inter-bank lending rates, Reuters reported, citing an unnamed source. New York attorney general Eric Schneiderman and Connecticut attorney general George Jepsen have been looking into the possible rigging and manipulation of Libor by global banks for months, their offices have said . As part of that investigation, subpoenas were sent in recent weeks to Royal Bank of Scotland and HSBC in addition to JP Morgan, Deutsche and Barclays, the source is quoted as having said.
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Barclays Appoints New Chairman To Take Bank Forward After LIBOR
10 August 2012
Barclays, the UK banking titan recently hit by the interbank rate-rigging scandal, has appointed Sir David Walker, a former chairman of Morgan Stanley, as its new chairman.
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HSBC Estimates $700 Million In AML Fines In Interim Report
30 July 2012
HSBC has estimated fines totalling $700 million after anti-money laundering control failings in the US, the bank said in its financial results for the first half of 2012.
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News and Features
Latest News
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Summary Of Miscreants In The World's Wealth Management Industry
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US Wealth Management Recruits Two Advisory Teams, Targets $1 Billion AuM Next Year
Comment and Analysis
EXCLUSIVE: Citi Private Bank: Reaping Rewards From Client Feedback
WE Family Offices Sets Out To Reshape The Landscape Of UHNW Wealth Management
FEATURE: A Look At The Mexican High Net Worth Client Market
EXCLUSIVE: Thomas Carroll On His First Few Months At The Helm Of GenSpring
EXCLUSIVE: Industry Leaders Debate Hot Topics Of Client Centricity, Communications
Expert Commentary
- Top Story
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- Industry Insight
- View from the Top
- Editor's Choice
- Investment Strategy
Zürcher Kantonalbank Expects To Pay Big Fine To US Over Tax Evasion Case
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.
Tom Burroughes
24 May 2013
Guest Opinion: An Earnings Report Every Hedge Fund Manager Should Review
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.
Diane Harrison
20 March 2013
Q&A: Rockefeller & Co's Jimmy Chang On The Investment Environment
Here, Jimmy Chang, a senior portfolio manager and a managing director of Rockefeller & Co, discusses some issues around investing in the current environment.
Harriet Davies
4 April 2013
INTERVIEW: Regular Risk Reviews Gain Traction In The Family Office World
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.
Harriet Davies
9 April 2013
FEATURE: Twins And The Business Of Family
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.
Charles Lowenhaupt
8 April 2013
Guest Opinion: Diversification In The Age Of Globalisation
Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.
Marc Odo
25 March 2013
