Advisers
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AIG fund victims get financing for fight
The AIG Investor Action Group, the lobby group set up to represent those who lost money in the enhanced money market fund, have received financing to continue their fight for compensation from the private banks which advised them to invest in the fund.
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Ex-UBS banker founds cleantech boutique
A former co-head of investment banking at UBS, who spelt out an ambitious target of turning the Swiss bank into the top M&A house in Europe only to miss that goal, is launching what he claims to be the first advisory boutique dedicated solely to the clean technology sector.
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Crunch time for wealth managers
Wealth managers need to work out how to communicate better with their clients or face mass defections, according to research from Dow Jones.
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Comment: Wealth managers and fraud
The Bernard Madoff case might be hogging the financial headlines, but a more revealing case of why financial advisers commit fraud was portrayed in an article in the New York Times yesterday under the heading “Private Banker Moved Funds Undetected”.
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Is the worst now over for UBS?
When UBS persuaded Oswald Grübel to come out of retirement to become its chief executive, the former Credit Suisse head knew he was signing up for the most challenging job in European banking.
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Demand for wealth advisers will halve over two years
Demand for wealth management advisers in Europe will almost halve over the next two years, according to a survey by PricewaterhouseCoopers.
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FSA calls for an end to adviser commission deals
The UK Financial Services Authority has outlined plans to ban commission payments from product providers and force financial advisers to agree fee payments with clients upfront, as the regulator looks to rebuild "trust and confidence in the retail investment market".
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The best of times, the worst of times: tales from the veterans of finance
JP Morgan Cazenove’s chairman David Mayhew said it was the introduction of the smoking ban in the UK. Deutsche Bank’s Josef Ackermann points to his time in a Düsseldorf courtroom. And Baring Asset Management strategist Andrew Cole’s believes it was the Mexican peso crisis of 1994.
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The full veterans of finance list
Very few people in finance today have ever witnessed, let alone worked through, a serious bear market. The shortness of many City careers means that experience is a precious commodity. Had a greater number of more mature and wiser heads stuck around for longer, the industry might have better weathered the credit storm.
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Financial advisers avoid asking clients the tough questions - survey
A new survey has shown that 25% of financial advisers avoid asking their clients important questions about their investment goals, but instead prefer to concentrate on trival matters.
Most Read
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
$95 Million Trump House Could Be Sold–Again
Donald Trump set a record when he sold a house for $95 million last year. It was, he proudly pointed out, the largest amount paid in the U.S. for a single-family home.
