Private banking
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European bank launches French wealth initiative with acquisition
Banco Espirito Santo has acquired Marignan Gestion, a Paris-based wealth manager, in order to develop an onshore private banking business in France. Terms of the transaction were not disclosed.
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The funds that private banks prefer
Just when wealthy individuals thought it was safe to emerge from their bunkers, they are being inundated with ideas on where to put their hard-earned cash.
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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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SFO freezes Stanford assets at London banks
The UK Serious Fraud Office has obtained a restraining order for over $100m (€70.9m) of assets held at "certain London financial institutions" that are connected to the alleged Allen Stanford investment fraud.
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The Secret of Swiss Banks' Success
Switzerland may have a long tradition of peace, but in the eyes of its private bankers it is at "economic war."
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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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Guest Comment: Millionaires to enjoy post-dotcom-style rebound
The World Wealth Report from Merrill Lynch and Capgemini shows the wealth of the world’s millionaires plunged $7.9 trillion to $32.8 trillion in 2008. No great surprise there, courtesy of the credit crisis.
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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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Jefferies sued over UBS healthcare raid
UBS has sued Jefferies after the head of US healthcare banking at the Swiss group left with at least 34 colleagues to join the mid-market investment bank he reportedly described as "low quality" eight years ago.
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UBS makes big upgrades to investment banks
Analysts at UBS have made a significant upgrade to their outlook for investment banking revenues, forecasting that five of Europe’s biggest banks will make nearly $25bn (€18bn) more than they originally expected.
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.
