“there might be a more legitimate reason why many wealth managers steer clear of Norway” -- David Bain
Sunday, 22nd November 2009
Coutts & Co, the private banking unit of Royal Bank of Scotland, has secured a licence to operate within the Qatar Financial Centre Regulatory Authority, according to a FinanceAsia report.
The report quoted Phillip Thorpe, the QFC’s chairman and chief executive, as saying: "We are delighted to see that the QFC legal and regulatory framework continues to make a very significant contribution to attracting leading financial institutions to Qatar."
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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