“there might be a more legitimate reason why many wealth managers steer clear of Norway” -- David Bain
Sunday, 22nd November 2009
Unigestion, a Swiss asset manager specialising in alternative investments, has opened an office in Paris, in order to market a non-Swiss-registered fund, according to a report in GenevaLunch.
Patrick Fenal, the firm’s chief executive, told Bloomberg that Unigestion lost a mandate from a prospective customer due to its Swiss base.
Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.
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