US Bank
With Abbot Downing, Wells Fargo Gallops Up The Family Office Rankings
10 November 2011
Wells Fargo, one of the giants of the US banking industry, is upping its game in the ultra high net worth private client business, with a new streamlined offering for clients with $50 million+ assets.
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Madoff Trustee Seeking Nearly $1 Billion From BNP Paribas Arbitrage
8 November 2011
The trustee liquidating Bernard Madoff’s firm is seeking to recover nearly $1 billion from BNP Paribas, alleging that the business unit BNP Arbitrage received transfers from a Madoff feeder fund, according to a complaint filed in the US Bankruptcy Court in the Southern District of New York. The complaint forms part of efforts by Irving Picard, the court-appointed trustee under the Securities Investor Protection Act (SIPA), to recover property from the $65 billion Ponzi scheme run by Madoff's firm, Bernard L Madoff Investment Securities . The latest ruling shows Picard is seeking to recover around $975 million in transfers made to BNP Arbitrage.
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Citi Names New Asia CEO And Chairman, Eyes Client Expansion In Asean, India
8 November 2011
Citi has promoted its Asia-Pacific co-head Stephen Bird to the position of sole chief executive of Asia, while his former co-head, Shirish Apte, will become chairman of the region, according to an internal memo seen by sister publication WealthBriefingAsia. Since 2009 Bird and Apte have shared the role, with Bird focusing on China, Hong Kong, Korea and Taiwan, and Apte concentrating on South and Southeast Asia . Bird will run Asia, but he will also continue to spend time with key clients in North Asia, said the memo, which was signed by Citi CEO Vikram Pandit and president and chief operating officer John Havens.
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Round-up Of Quarterly Wealth Management Financial Results
7 November 2011
Here are the main quarterly results for major banking groups around the world so far in the latest results season. The results focus on the wealth management sides of banks.
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North America Executive Moves: October 2011
7 November 2011
Here, the significant moves in the North American wealth management market for October are summarized.
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UBS Expected To Cut RoE Target, Canada's RBC Maintains Profit Outlook
24 October 2011
As banks continued to report their quarterly results, Switzerland’s UBS was expected to cut its return on equity target, while Royal Bank of Canada’s wealth management group said it will stick to its profit outlook, reports said. The reports come at what has, so far, been a generally positive set of results for banks issuing their results updates . A number of large US banks, for example, have reported profitable results, as in the case of Morgan Stanley and Bank of America.
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Family Offices Set To Triple In Number In Asia-Pacific Over Next Decade
20 October 2011
The number of family offices is set to triple in the Asia-Pacific region over the next decade, according to estimates from the US bankCiti. Family office numbers are expected to soar from 500 to 1,500, far exceeding the growth of other regions within the same time frame, said the bank . Family offices manage the investments, estate planning, philanthropy and personal needs for wealthy families.
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Wealth Management Pre-Tax Income, Revenues Rise At Morgan Stanley
20 October 2011
The wealth management arm of US banking group Morgan Stanley saw pre-tax income rise to $362 million in the three months to 30 September from $281 million a year ago, boosting results for the entire bank, it said yesterday. The Global Wealth Management Group’s pre-tax margin was 11 per cent, it said in a statement . Income after the non-controlling interest allocation to Citigroup and before taxes was $310 million, it said.
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First Foundation Bank Hires VP Of Trust Administration
14 October 2011
First Foundation Bank has hired Melissa Hall as vice president of trust administration based in the recently-opened San Diego office. Hall brings over 25 years of fiduciary experience and will be responsible for administering personal and charitable trusts for individuals and families in the greater San Diego area . Prior to this role, she had worked for US Bank and San Diego Trust & Savings Bank.
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Private Banking Revenues Rise At JP Morgan
14 October 2011
JP Morgan Chase & Co today said revenue from private banking in the third quarter of this year rose 10 per cent year-on-year to$1. 3 billion, while the US bank as a whole saw its net income fall slightly to $4 . 3 billion, down from $4.
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News and Features
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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
- Opinion of the Week
- Industry Insight
- View from the Top
- Editor's Choice
- Investment Strategy
America Regained Top Spot For HNW Population, Wealth In RBC/Capgemini Survey
The annual RBC Wealth Management/Capgemini World Wealth Report also showed that North America, which in 2011 had lost its top-dog status to Asia-Pacific, is now back as the place with the largest high net worth market.
Tom Burroughes
18 June 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
