Saturday, 7th November 2009

RBS Posts Loss, Cautious Outlook

Royal Bank of Scotland Group PLC, which is about to see its government ownership rise to 84%, posted a £1.8 billion ($2.99 billion) net loss for the third quarter, hurt by £3.28 billion in impairment losses, and said it remains cautious on the outlook.

  1. Tax amnesty proves a hit among Italians
  2. Sotheby's 3Q loss widens
  3. Going local --- In a shaky art market, collectors stick close to home
  1. In Tax Case, 4 Days Save Robertson $27 Million
  2. Barclays Wealth team leaves for Standard Chartered
  3. Lloyds wealth team quits after bonus worries

Featured Article

Bonus boom will buoy luxury property market

A wave of around £6bn ($9.9) in bonuses expected to be distributed to City financiers in spring will support London's prime property market in areas such as Chelsea and Kensington, although the mainstream market is expected to continue to decline.

Rich Monitor

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Featured Article

UBS wealth unit takes £33m hit on rogue trades

UBS has been forced to stump up £33m (€37m) after staff in its London-based wealth management division used client accounts to make unauthorised trades in precious metals and foreign exchange. The UK market regulator slammed UBS for its "inadequate systems and controls" in a wide-ranging critique of the business.

Rich Monitor

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Featured Article

The Top Ten Most Resilient Luxury Brands

The wealthy are still living in a material world, although they are toning down their habits. Global luxury goods sales are expected to fall 8% to €153bn ($230bn) this year and will take at least three years to recover to 2008 levels, according to US consultant Bain & Co.

Rich Monitor

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Wealth Business »

  1. Italian tax amnesty on course to exceed repatriation target
  2. Prospective suitors eye Austrian wealth manager
  3. Analysts to press UBS over turnaround strategy for wealth unit
  4. Citigroup plans 75 layoffs at wealth management division
  5. US authorities form new unit to scrutinise wealthy tax evaders

Rich Life »

  1. UBS predicts 11% rise in number of HNW UAE nationals
  2. Survey predicts 40% hike in year-end bonuses for Wall Street workers
  3. Research finds 35% decline in number of UK property millionaires
  4. Life after the City: Emyr Thomas
  5. Hedge-fund billionaire triumphs in $27m tax case

Portfolio »

  1. Citigroup to rebrand embattled alternative investments arm
  2. Swedes rewrite directive to remove hedge fund leverage cap
  3. US hedge funds poised for bespoke account growth
  4. GLG third-quarter loss narrows on fewer charges
  5. Institutions punish Man – although not as much as some expected

People »

  1. JP Morgan Private Bank Hires Former Deutsche Banker For India
  2. US boutique wealth manager bolsters operations with hires
  3. Morgan Stanley poaches six-member private wealth team from UBS
  4. Credit Suisse scoops private banking veteran from UBS
  5. Vontobel Hires 3 Seniors For UK Brokerage Activities

Most Read

  1. Barclays Wealth team leaves for Standard Chartered
  2. Lloyds wealth team quits after bonus worries
  3. UBS wealth unit takes £33m hit on rogue trades
  4. Citigroup plans 75 layoffs at wealth management division
  5. Morgan Stanley poaches six-member private wealth team from UBS

Feature

Comment

eFinancial News

  1. Hester gives 'full support' for bankers in 'dispiriting' times
  2. M&A activity 'could double' next year
  3. European Commission slammed for 'inadequate' AIFM analysis
  4. Moulton makes senior hire for Better Capital

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