M
Daily News Analysis
Why UHNW Clients In MidEast Prefer Single Family Offices To MFOs - Invesco Study
23 May 2013
Ultra-high net worth individuals living in the Gulf Cooperation Council jurisdictions of the Middle East are far more likely to use a single family office rather than a multi-family office because they want to keep a tight control over their affairs, according to a study by Invesco. The GCC jurisdictions are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates . While the Invesco report focuses on the Middle East region, the different ways in which single- and multi-family office models are viewed may have parallels in the North America market to some extent.
*****
PNC Wealth Adds To Management Team
23 May 2013
PNC Wealth Management, the wealth arm of Pittsburgh-based PNC Financial Services Group, is expanding its wealth management team in Alabama, according to a report by the Birmingham Business Journal. The team will be headed by PNC Wealth Management director Felix Tankersly . The team includes: Harvey Hutchinson, vice president and senior wealth planner; Dean Johnson, vice president and senior trust advisor; Bob Ireland, vice president and senior relationship manager; Maggie Tanner, vice president and senior banking advisor; Guillermo Araoz, senior vice pre.
*****
Sell In May? BMO Private Bank Tests The Theory
23 May 2013
There is a statistical basis for the “sell in May then go away” adage, but investors are still better off staying invested year-round, says BMO Private Bank. The bank released a report which divided the year up into six-month chunks (May-October and November-April) and compared stock market performance dating back to 1900 . The report tracked how $1,000 would fare if invested for six months of the year in the Dow Jones Industrial Average, and six months in non-interest-bearing cash, for each period.
*****
Lyxor Makes Senior Hedge Fund Hire From Citi Private Bank
23 May 2013
Lyxor Asset Management, a wholly-owned subsidiary of Societe Generale, has appointed Frank Frecentese to its New York office as the deputy head of hedge fund research, in a move furthering the firm's expansion plans. Frecentese joins from Citi Private Bank, where he was managing director and global head of hedge fund investments . Prior to joining Citigroup, he was an executive director at Morgan Stanley, where he was the head of alternatives research for Graystone Research, part of the Morgan Stanley group.
*****
Massachusetts Reaches Settlement With Five Broker-Dealers Over REITs Sales
23 May 2013
Five broker-dealers will pay $9. 6 million to settle with Massachusetts’ securities regulator over sales of non-traded real estate investment trusts in the state, Reuters reports . William Galvin, Secretary of the Commonwealth of Massachusetts, said agreements had been reached with Ameriprise Financial Services, the broker-dealer arm of Ameriprise Financial; Commonwealth Financial Network; Royal Alliance Associates; Securities America and Lincoln Financial Advisors.
*****
Features
EXCLUSIVE: Citi Private Bank: Reaping Rewards From Client Feedback
13 May 2013
Here, top executives at Citi Private Bank explain how the bank’s “Voice of the Client” initiative has rapidly gained traction among both staff and clients.
*****
WE Family Offices Sets Out To Reshape The Landscape Of UHNW Wealth Management
11 April 2013
WE Family Offices is trying to change the landscape of high-end wealth management with its offering focused on “wealth as an enterprise.”
*****
FEATURE: A Look At The Mexican High Net Worth Client Market
2 April 2013
Mexico is home to the world’s richest man in the form of telecoms magnate Carlos Slim, but its wealth management market has not received the attention of Brazil’s. That may be changing as the emerging economy garners attention from the industry.
*****
EXCLUSIVE: Thomas Carroll On His First Few Months At The Helm Of GenSpring
27 March 2013
GenSpring Family Offices is in some ways a poster child for the multi-family office industry: it grew assets under management very quickly for many years but has recently had to tackle problems that come with this increasing scale.
*****
EXCLUSIVE: Industry Leaders Debate Hot Topics Of Client Centricity, Communications
25 March 2013
Relevancy, transparency and ease of use emerged as goals for wealth management firms to strive for in delivering client-centric communications at a recent event of industry leaders held in New York.
*****
News and Features
Latest News
Why UHNW Clients In MidEast Prefer Single Family Offices To MFOs - Invesco Study
PNC Wealth Adds To Management Team
Sell In May? BMO Private Bank Tests The Theory
California Luxury Property Values Raise The Roof
Lyxor Makes Senior Hedge Fund Hire From Citi Private Bank
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
UK Fines JP Morgan International Bank's Wealth Arm Over Suitability Failings
The UK's Financial Conduct Authority has fined JP Morgan International Bank a total of £3.08 million (around $4.6 million) for systems and controls failings at its wealth management business.
Natasha Taghavi
23 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
