Private banking

1. Stanhope Capital grows staff by 50%

   Stanhope Capital, the private investment manager, has taken the opportunity to cherry-pick staff from rivals during the downturn, growing its headcount from 26 to 40 over the last year.

2. Moody's Downgrades UBS Ratings

   Moody's Investors Service downgraded various ratings on Swiss bank UBS AG, citing challenges in its investment-banking and wealth-management businesses.

3. Santander merges asset management and private banking

   Spain's Banco Santander has decided to merge its asset management and global private banking operations, with Javier Marin to head the new division, the bank said Tuesday in a press release.

4. UBS Outlines Path to Profit

   UBS AG laid out ambitious plans to restore the troubled Swiss bank to profitability, but struggled to convince investors who worried that new management still faces an uphill battle in turning the group around.

5. McCann spells out UBS wealth plans on investor day debut

   Robert McCann, the new chief executive of UBS' Americas wealth management arm, spelled out plans to boost annual pre-tax profits at his division to more than Sfr1bn (€663m), after facing the bank's shareholders for the first time.

6. UBS sets targets, warns no quick fixes

   UBS chief executive Oswald Gruebel today asked investors for patience in returning the loss-making Swiss bank to profitability and stanching outflows at its flagship private bank, as he detailed mid-term financial targets.

7. Gam shares leap 5% on asset rise result

   Shares in asset manager Gam Holding, which broke from Julius Baer last month, rose 5% in early trading today, after reporting a rise in assets under management. The news came in its first interim results as an independent company.

8. Swiss Banque Heritage Sees Gains From Foreign Expansion

   Geneva-based Banque Heritage is among the latest of a string of small Swiss private banks to expand its presence abroad as a way of offsetting the burden of increased regulation at home, and to compensate for the erosion of Switzerland's status as an offshore banking center.

9. Family-run businesses outperform their public rivals

   Family businesses have long been considered more profitable than publicly owned companies, and industry analysts said the recession bears this theory out.

10. UBS to Unveil Turnaround Plan Tuesday

    Tuesday is D-Day for UBS AG, when Chief Executive Oswald Grübel gives the first peek at how he plans to turn around the struggling Swiss banking giant.