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Organisation Profile - The Legal Powerhouse Of Baker & McKenzie
27 September 2010
It is a well established cliché these days that wealth management operates in a global marketplace. Few firms set out to embody that reality more than the law firm, Baker & McKenzie, which is frequently at the cutting edge of key industry issues.
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Goldman Sachs's "BRIC" Star To Chair Asset Management Arm
13 September 2010
Goldman Sachs Asset Management has brought in Jim O'Neill, its high-profile economist who is credited with coining the "BRIC" acronym, as chairman of the US company. O'Neill was latterly the head of global economics, commodities and strategy research for Goldman Sachs & Co . In his new role, he will remain in London and report to Ed Forst and Tim O'Neill, the global co-heads of the investment management division.
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Financial Firms Curb Bonuses, EU Votes To Curb Bankers' Payouts
8 July 2010
Most financial services firms around the world have cut back on the share of staff pay that is accounted for bonuses in the face of rising regulatory pressure to curb what is seen as risky bank practice, according to Mercer, the consultants. Almost all participants in the Mercer survey said they have changed the weighting of components in their remuneration packages . Some 70 per cent have increased base salaries while decreasing annual cash bonuses (94 per cent).
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Congress Agrees To Give SEC Final Word On Fiduciary Duty Debate
25 June 2010
Congressional negotiators hammering out the financial reform bill agreed to the House’s stronger fiduciary duty provision yesterday, and gave the Securities and Exchange Commission power to have the final word on the controversial fiduciary versus suitability debate. Under the agreement, the SEC will receive rulemaking authority to require broker-dealers to act in the “best interests” of their clients and to reveal any conflicts of interest when providing investment advice to retail clients . But first the SEC must conduct a six-month study analyzing the differences between the fiduciary duty and the suitability standard under which broker-dealers currently operate, which requires that a product be appropriate for a client's investment needs and timeline.
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Capital Gains - The Tax Trade-Off Explained - Rockefeller Financial
3 June 2010
A new white paper by Rockefeller Financial explains the trade offs that investors face in choosing to realize capital gains now and pay lower taxes, or try for more gains and pay a higher rate later on.
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Paulson Closes Flagship Funds To New Investors
14 May 2010
Clients of hedge fund firm Paulson & Co have been told by eponymous founder John Paulson that its two Advantage funds, with a total of about $20 billion under management, will close later this year, an investor has informed the Financial Times. The FT comments that managers usually stop accepting new money when they think an increase in size of the funds might impact adversely on their ability to produce good returns . A number of fund firms, such as Brevan Howard and Lansdowne Partners, have shut funds to new investors, the publication said.
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Ex-JP Morgan Wealth Manager Sues, Says She Was Fired For Being A Whistleblower
11 May 2010
A former JP Morgan private wealth management executive who said she was one of her department's top producers sued the bank yesterday, saying she was fired for being a whistleblower against a long-time client, Reuters reported. Jennifer Sharkey alleged in a statement in a Manhattan court that she was fired last August after urging the second-largest US bank to break ties with an Israeli customer who had been a bank client for 20 years and generated some $600,000 of business annually . The customer was not identified in the complaint, the report said.
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Students Protest Commencement Speech Of JP Morgan's Dimon
14 April 2010
JP Morgan Chase & Co chairman and chief executive Jamie Dimon is scheduled to be the commencement ceremony speaker at Syracuse University next month, but some students are petioning to have him removed. The students are “against using the 2010 commencement to restore the public image of the banking industry,” according to the protestor group, “Take Back 2010 Syracuse University Commencement,” Bloomberg reported . More than 800 students and alumni of the university in Syracuse, New York, have signed the petition.
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Dershowitz Joins Stanford Defense Team
12 April 2010
The R. Allen Stanford case moved back into the spotlight over the weekend with the emergence of controversial Harvard University law professor Alan Dershowitz as part of the indicted financier’s defense team . Bloomberg reported that Dershowitz, who was part of former pro football player O.
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Switzerland Amends UBS Data Transfer "Treaty" With US
6 April 2010
The Swiss Federal Council has approved an amending protocol, revising the controversial “UBS Treaty”, which regulates the transfer of data on 4,450 UBS clients suspected of concealing money from the US tax authorities. Until the new treaty is adopted by the parliament, no information will be passed onto the US . The amending protocol raises the treaty to the same level as a double taxation agreement, while it was formerly considered a convention, the Swiss federal office of Justice said; the new treaty takes precedence over older conventions.
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News and Features
Latest News
RIA To Unveil Succession, Acquisition Program For Advisors
As A Wealth Preserver, The Dollar Beats Gold At The Moment, Says Private Bank
Summary Of Miscreants In The World's Wealth Management Industry
KeyBank Names Vice President For New York
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
- Opinion of the Week
- 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
