9 May 2011
A round-up of the North American industry moves for April 2011.
5 May 2011
Argentina has been through difficult economic times but it is still the second biggest LatAm economy and there are signs that developments are turning more positive, an investment firm argues.
28 April 2011
First Western Trust Bank has hired Larry Quitter as a senior private banker at the firm's Cherry Creek office in Denver. He joins from US Bank in Denver where he was the primary daily contact representative for small- to mid-sized business clients . "It's our goal here to provide banking solutions that cater to our community's distinct needs," said Russel Schmucker, president of the Cherry Creek office, "and I'm excited to have a talented professional like Larry join our team.
27 April 2011
Citigroup plans to hire about 500 people globally, including bankers and traders, to bolster its institutional-clients unit, serving groups including private banks, media reports said. The additions are “part of a multiyear effort, across all businesses and geographies” within the division, the bank was quoted as saying by Bloomberg . The institutional-clients unit includes investment banking, trading, transaction processing and its private bank.
27 April 2011
US Bank has created a new brand for its ultra high net worth business unit, to be named Ascent Private Capital Management, which the firm says aims to provide a unique brand identity to reinforce a differentiated service. The new launch is also said to be part of providing a new focus and expanded capabilities for ultra high net worth clients as US Bank’s wealth management business continues to grow . Ascent Private Capital Management will begin opening offices in select US cities later this year, the firm said in a statement.
27 April 2011
US banking group Tower Bancorp has named Mark Ritter as the new chief executive of Graystone Wealth Management, the division through which it offers wealth management and trust services. Ritter, who has worked in banking and wealth for 24 years, was most recently with Metro Bank where he served as executive vice president and chief operating officer . Prior to that, he worked as the president and chief executive officer for Sterling Financial Trust Company, an affiliate of Sterling Financial Corp.
25 April 2011
HSBC Private Bank has announced a number of senior appointments to its team in the Bay Area of California. Richard Kuchen joins as a senior vice president, relationship management . Kuchen brings ten years of private banking experience from his previous position as wealth advisor, business development and relationship manager at Wells Fargo.
18 April 2011
Bank of America Merrill Lynch’s wealth and investment management arm logged a 22 per cent rise in net income in the first three months of 2011 from a year before, the US banking giant said, boosted by higher net interest margins, fee income and lower credit costs. The improved performance was achieved on the back of a rise in revenues of 11 per cent to $4 . 5 billion, driven by “record asset management fees and record brokerage revenue”, the bank said in a statement today.
13 April 2011
The Latin American continent has its share of problems but is also gaining more traction as a wealth management growth market.
12 April 2011
Proposed interest reporting requirements on US banks with foreign clients are being floated again by the US government a decade after similar efforts were abandoned, drawing a sharp attack from Florida’s banking industry.
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