Bank of America
US Bank Boosts HNW Private Client Team In San Francisco
17 October 2012
The Private Client Reserve, a unit of Minneapolis, MN-based US Bank, has appointed Michael Millman as senior vice president/wealth management advisor in San Francisco, CA. The PCR targets high net worth clients with over $1 million in investable assets and Millman will spend his time developing and implementing investment plans for HNW individuals and families . Overall, he has about 17 years of private banking, financial planning, and investment management and trust experience, having latterly served as senior vice president/wealth advisor at Wells Fargo Private Bank.
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Webster Bank Boosts Private Banking Team
11 October 2012
Waterbury, CT-headquartered Webster Bank has appointed Chris Martin and Caryn Cosentini as senior vice presidents and senior private bankers in Western Connecticut and the Westchester County/ Metro New York areas respectively. Martin launched Webster’s government and institutional banking group in 1997 and has served as a financial advisor and investment banker since 1982 . Prior to joining Webster, he worked in similar capacities for Paine Webber, Bank Boston and Fleet Securities, the firm said.
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RBC Wealth Management Takes On $230 Million Team In Dallas
10 October 2012
RBC Wealth Management has brought in the Nierling Investment group - latterly of Morgan Stanley (Smith Barney) - to its Dallas, TX, executive office, according to complex director Andy Teller. The team brings over $230 million in assets under management and $2 . 2 million in production.
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RBC Wealth Management Recruits Burlington, Andover Branch Director From UBS
8 October 2012
Canada’s RBC Wealth Management has appointed Mark Rabbe - who oversees $85 million in client assets - to serve as branch director of its Burlington, VT, and Andover, MA, offices, Boston complex director Paul Leyden has announced. Leyden, who oversees the Burlington and Andover offices, said Tania Cadieux is also joining, along with Rabbe . Rabbe was latterly the manager of UBS’ Andover branch.
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Summary Of Executive Moves In North America Wealth Industry - September 2012
5 October 2012
Fieldpoint Private, which serves ultra-high net worth families and institutions, appointed former Morgan Stanley Smith Barney veteran M Thomas Conway as a managing director and senior advisor. His move ended a 23-year career at MSSB and its predecessor firms . Bank of America Merrill Lynch named a new head of insurance and annuities.
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Many HNW Philanthropists To Boost Donations In Coming Years - BofA Study
3 October 2012
Almost a quarter (24 per cent) of wealthy household donors surveyed by new research plan to give more during the next three to five years compared to their past contributions, while it has also emerged that in 2011 just over half gave to political causes for the purpose of electing or defeating a candidate. Just over half (52 per cent) plan to continue donating at their current levels, with 9 per cent planning on cutting back, according to preliminary findings from Bank of America's High Net Worth Philanthropy study for 2012 . The survey results come at a time when there are concerns that the desire by individuals to give to charity might be blunted by a weak economy.
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BNY Mellon Completes Joint Venture With Germany's Portigon
2 October 2012
New York's BNY Mellon has bought the remaining half of its WestLB Mellon Asset Management joint venture from German portfolio management and service firm Portigon, adding to a number of merger and acquisition developments in the US and world's financial industry. Financial terms of the transaction were not disclosed . WestLB Mellon Asset Management was formed in early 2006 as a 50/50 joint venture between BNY Mellon and Portigon.
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BoA In $2.43 Billion Settlement To End Controversy Over Merrill Purchase
1 October 2012
Bank of America has agreed to pay $2.43 billion to settle a lawsuit brought against it by investors who had been angered the US bank’s $50 billion purchase of embattled Merrill Lynch amid the height of the 2008 financial crisis.
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INTERVIEW: Canada's RBC Wealth Management Has Risen Far, But It Ain't Over Yet
28 September 2012
RBC Wealth Management is a business that has in its own unpretentious way risen up the rankings, but as far as one of the top men at the Canadian firm is concerned, the ascent is far from over. The firm, part of Royal Bank of Canada, with C$562 billion ($571 . 7 billion) of client assets, has been on a branding and marketing drive, hired more managers and recently taken over the closely-read Capgemini World Wealth Report, previously produced in association with Bank of America Merrill Lynch.
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BoA Names Former Merrill Exec As Head of Insurance, Annuities
28 September 2012
Bank of America Merrill Lynch has named a new head of insurance and annuities, the US banking and wealth management giant has said. Michael Maghini moves from Morgan Stanley Smith Barney to assume leadership of the BoA unit, bringing with him some 30 years of industry experience . Maghini was previously a director for distribution at MSSB and had also worked for the likes of Citigroup, SunAmerica Asset Management and UBS.
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News and Features
Latest News
South Carolina Bank Inks Deals To Upgrade Wealth Management Offering
UK’s Aberdeen Confirms Commitment To US With Acquisition
Executive Departure At Citi Triggers Reshuffle; New CEO Of Private Bank
FINRA Fines LPL Over Email System Failures
Fremont Bank Names New Vice President Of Wealth Management
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
BNY Mellon Lays Out Big Hiring Plans For Wealth Management
BNY Mellon Wealth Management is planning to double the size of its global sales force, as well as adding a raft of private bankers.
Harriet Davies
22 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
