Thursday, 24th July 2008

 

People

  1. New Star's Whittaker replaced on flagship fund

    Stephen Whittaker, chief investment officer at New Star Asset Management, has handed over his £253m (€321m) equity income fund after significant underperformance, marking the latest change in senior management at the beleaguered funds house.

  2. Morgan Stanley poaches $8m Citigroup wealth brokers

    Morgan Stanley has poached two high-profile brokers from Citigroup to bolster its Latin American wealth management operations, according to a report in Financial Planning.

  3. Citigroup taps ex-Deutsche Bank wealth strategist

    Citigroup has appointed Hak Bin Chua, formerly chief Asian strategist at Deutsche Bank Wealth Management, as head of research for its Singapore unit, according to a Reuters report.

  4. Rensburg Sheppards appoints investment director

    Rensburg Sheppards Investment Management has named Chris Ring its senior investment director for its London private client team, according to a report in FinancialAdviser magazine.

  5. Boutique private bank hires former Italian head of UBS

    Lugano-based Arner Bank has appointed Mauro Costa, the former head of UBS in Italy, to head its office in Milan.

  6. Merrills appoints four wealth specialists in Europe

    Merrill Lynch's wealth management arm has strengthened its Iberia office with the appointment of a new team of four.

  7. Tilney exodus to Brown Shipley continues

    Brown Shipley, the UK-based private bank, has hired its sixth banker from rival Deutsche Tilney - the the latest in a string of hires for its regional offices.

  8. Julius Baer scraps chief executive position, reports first half results

    In announcing its first half 2008 results, Julius Baer said it would scrap the position of group chief executive as a result of the creation of standalone managed companies – Bank Julius Baer, GAM and Artio Global – within the group.

  9. Structured products head leaves New Star

    London-based funds house New Star Asset Management's head of structured products has resigned, extending a list of senior departures from the group at a time when its two chief investment officers come under increased pressure after suffering negative performance on their funds.

  10. JP Morgan veteran joins Swiss fund of hedge funds

    The US subsidiary of EIM, the $15bn (€9.4bn) Swiss fund of hedge funds, has tapped a 15-year JP Morgan veteran for a new role to oversee risk management in line with an expansion of its US business as companies ramp up controls following the market downturn.

Brummel

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Rich Monitor

Will Smith tops Hollywood earnings list with $80m payout

Will Smith has emerged as Hollywood’s top earner, earning a massive $80m (€51m) last year, new figures compiled by Forbes have shown, according to a report in New York Daily News.

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