Monday, 23rd November 2009

 

6 November 2009 - Press Briefing

Prospective suitors eye Austrian wealth manager

Liechtenstein's LGT bank and a consortium spearheaded by former UniCredit Bank Austria director Willi Hemetsberger are both performing due diligence regarding a potential takeover of Constantia Privatbank, sources told Reuters.

The Austrian wealth manager is controlled by five of the country’s largest banks - Bank Austria, Erste Group, Raiffeisen Zentralbank, Oesterreichische Volksbanken and Bawag P.S.K.

Tags: Constantia Privatbank

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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”.

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