Sunday, 8th November 2009

 

27 June 2008 - Press Briefing

Northern Trust bolsters US wealth operations with Lakepoint acquisition

Northern Trust Bank, the US wealth manager, has acquired Lakepoint Investment Partners, an investment management firm serving individual investors, corporations, pension and retirement programmes, and foundations and endowments.

The transaction is scheduled to close on September 30, subject to regulatory approvals and other customary closing conditions.

Most Read

  1. Barclays Wealth team leaves for Standard Chartered
  2. Lloyds wealth team quits after bonus worries
  3. UBS wealth unit takes £33m hit on rogue trades
  4. Citigroup plans 75 layoffs at wealth management division
  5. Morgan Stanley poaches six-member private wealth team from UBS

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.

More from Wealth Business

  1. RBS Posts Loss, Cautious Outlook
  2. Tax amnesty proves a hit among Italians
  3. Italian tax amnesty on course to exceed repatriation target
  4. Prospective suitors eye Austrian wealth manager
  5. Analysts to press UBS over turnaround strategy for wealth unit

Related Content

  1. Northern Trust Billionaire's Club eyes growth
  2. Wealth management fees rise at Northern Trust

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