151 articles found within the last year.
Displaying results 101 - 120
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Millionaires are game for a tennis tonic
With the coming of spring, the world’s rich ... This week, the country club of the 20-block ... After a subdued winter, when many millionaires mourned ... A 20-seat prestige box at the Masters tournament ... The Monte-Carlo Country Club is bullish on the ... The stage is set for an exciting competition....
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EFG cuts cash bonuses in favour of stock options
Swiss wealth manager EFG International has told its ... EFG is keen to save cash in the ... The firm is backed by the Greek Latsis ... As a result of this strategy, EFG International ... But analysts expect these plans to be trimmed ... They say acquisitions could go on the back...
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UBS Wealth Management US plans lay offs
UBS' US brokerage business plans to lay off ... UBS Wealth Management US head Marten Hoekstra disclosed ... Hoekstra told the financial advisers that, just because ... A UBS spokesman declined to comment about the ... In recent weeks, analysts and industry observers have ... Last month, UBS said it would sell off...
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Charities fear their funding crisis can only get worse
The three virtues – faith, hope and charity ... If past recessions are anything to go by, ... Renu Mehta, founder of Fortune Forum, a charity ... Nearly a thousand charities in the UK shut ... Sixty one per cent said they were concerned ... A spokeswoman from Oxfam said: “Each pound that...
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Wealthy investors find opportunities in distressed private equity deals
Private banks are reporting rising interest from their ... Dennis Geelan, director of investment solutions at Credit ... Opportunities are cropping up because a rising number ... Geelan said: “They are selling down their holdings ... He said discounts on such debt was running...
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Kleinwort's Taylor fights to regain clients’ trust
Private bankers have their work cut out to ... He said: “Clients have lost money. Their taxes ... He confirmed a few products accessed by Kleinwort ... Taylor has also been putting his bank’s case ... Taylor said Commerzbank was under pressure as a ... However, Taylor pointed out to Commerzbank that Kleinwort’s...
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Caution pays off at Heartwood
A timely asset allocation call can make all ... The idea was tabled by Heartwood founder David ... Lough is chairman of the firm that bought ... Heartwood now manages £1bn (€1.1bn). One of its ... Lough’s brother Simon, chief executive, said such individuals ... Of Heartwood’s allocation call, Simon Lough said: “In...
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Do not pass go, do not collect £200: Mayfair in the downturn
Nearly a decade ago the BBC made a ... The programme, called The Mayfair Set, defined the ... Fast-forward to a new millennium, and as markets ... For many of them, if they weren’t working ... As the fortunes of hedge funds and private ... Commercial and retail real estate analysts say Mayfair...
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UBS restates 2008 loss
UBS, which in 2008 reported the biggest ever ... It said its 2008 net loss was now ... It had already indicated it would charge the ... UBS said that apart from the settlement agreements ... "Even after substantial risk reduction, our balance sheet ... "Net new money remains positive for our Wealth...
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RBC Wealth appoints two heads of business in Jersey
The wealth management arm of Canadian bank Royal ... Alison Creed and David McCrae have been promoted ... Creed will focus on the offshore business while ... The CEES group is responsible for administrating corporate ... It manages around 600 plans for 450 corporate ... Creed and McCrae were previously at Abacus Financial...
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Crisis creates opportunity for Islamic wealth management
Beneficiaries from the financial crisis are few and ... Humayon Dar chief executive of BMB Islamic, an ... Many wealthy individuals in the Gulf preferred to ... The regional head of a privately owned Swiss ... The more constrained approach of Islamic institutions, which ... Adrien Gayler, a former Merrill Lynch executive who...
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$1 trillion up in the air as wealthy reallocate assets
The wealthy are moving their money as never ... With the world’s biggest wealth manager UBS reporting ... Sebastian Dovey, head of consulting at Scorpio Partnership, ... The biggest beneficiary of this shift – at ... HSBC Private Bank, which has become more vocal ... A handful of smaller wealth managers were also...
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Wealthy investors move $1 trillion
The world’s wealthiest investors last year transferred more ... Sebastian Dovey, managing partner of the London-based management ... Of the few banks reporting its new money ... But in the last quarter of the year ... Other wealth managers performing well last year included...
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Private banks reap benefits from rivals’ troubles
Lombard Odier has hired Michael Kuenzi from UBS ... Kuenzi left UBS last month after putting together ... Elsewhere, Geneva-based Lombard Odier has appointed Paul Marson ... Financial News’ sister online news service, www.wealth-bulletin.com, revealed ... Swiss private bank Sarasin is controlled by Dutch...
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Swiss banking secrecy meets its match
In Ian Fleming’s novel On Her Majesty’s Secret ... As Fleming said in his iconic 1963 novel: ... Since then, the concept of Swiss banking secrecy ... Today, Swiss banking secrecy is under threat from ... At the centre of these efforts is a ... The US Department of Justice is demanding access...
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Families’ philanthropic foundations forced to cut grants
Philanthropists face a funding crisis following a slump ... Family and private foundations have lost about 30% ... The Foundation Center, a philanthropy adviser, says several ... Tim Walter, the chief executive of Association of ... The impact of the downturn was lessened for...
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Wealth managers move towards outsourcing
The most valued attributes of a good wealth ... Charles van der Merwe, chief executive of Pershing, ... A survey of private client wealth managers from ... This need to cut costs has driven custody ... Brandon Sharrett, managing director at asset manager SEI, ... The three largest custody banks – Northern Trust,...
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Coutts under shadow of state control
There have been two consistencies in Coutts & ... It is perhaps ironic that after a history ... RBS has received £20bn (€22.7bn) of state support, ... Some observers believe that majority state ownership sits ... Alexander Hoare, managing partner of one of Coutts’...
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Diamonds are an investor's best friend
A fund offering access to physical diamonds is ... The KPR diamond fund capitalises on the price ... The diamond fund aims to provide returns which ... The fund, which is part of KPR Fund, ... The move comes weeks after Alfa Capital, the ... Giovanni Pennetta, chief executive of Goldwinds Asset Management,...
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Assets evaporate at Legg Mason’s high net worth division
The extent to which a wealth manager can ... In just three years, Florida-based Private Capital Management ... As a result, the unit has made some ... Sherman last week waived a $68.4m payment that ... Private Capital Management cut 15% of its 40 ... The cuts were implemented as Legg Mason announced...
