Saturday, 7th November 2009

 

Multi-family office secures talent from UBS and Credit Suisse

Newly-established multi-family office MaxCap Partners, led by managing partner Michael George, has persuaded a string of talented advisers from UBS and Credit Suisse to join its operation.

Michael George is part of a family which made its wealth in the food business. He has experience in corporate finance, wealth advice and private equity.

Andrew Knott and James Peterson have arrived from UBS. Knott, whose original background was corporate finance, became well known at UBS Wealth Management of the UK for structuring the first ever credit default swap for a private individual.

Knott looked after accounts totalling £1bn. Peterson, a Wealth Bulletin rising star, was a director of UK offshore key clients at UBS Wealth and is skilled in the structuring of tax-driven derivative transactions.

Graham Noble and Giles White both used to work at UBS, but prior to joining MaxCap they worked for Credit Suisse. Noble was Credit Suisse vice president covering ultra high net worth individuals in the UK and Ireland. White, a qualified barrister, now MaxCap investment chief, also looked after the ultra high net worth market. Ivo Fiennes started his career at F&C Asset Management, before joining Credit Suisse in 2005, where he was selected to serve on its prestige young talent programme.

Brummel

Relocation, relocation, relocation

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”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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