Thursday, 24th July 2008

 

Private banking

  1. Comment: Credit Suisse results underline hiring spree

    If you want a job in the financial services sector then best choose private banking.

  2. Rathbone profits tumble 27% on trust disposals

    Rathbone Brothers, the 266 year-old asset manager, suffered a first-half profit slump of 27% after announcing it would sell its Singapore and Jersey-based units.

  3. Credit Suisse 2Q Net Slips But Bests Views By Far

    Credit Suisse Group Thursday said quarterly net profit slid because turmoil roiling financial markets took a heavy toll on its investment banking business, but recorded far more buoyant earnings than expected by analysts.

  4. Carlyle Group invests $75m in Boston Private

    The Carlyle Group will invest $75m (€48bn) in wealth manager Boston Private Financial Holdings after Carlyle's financial services team last month stressed the importance of private equity as an untapped pool for struggling financial institutions.

  5. Comment: The rich like Julius Baer

    Surely the best indication of the health of a private bank is whether or not the wealthy are giving the bank their money. Profits and cost/income ratios won’t stay positive for long if new money flows are falling, and no amount of cost cutting will improve the long-term health of the private bank if money isn’t flowing in.

  6. Julius Baer scraps chief executive position, reports first half results

    In announcing its first half 2008 results, Julius Baer said it would scrap the position of group chief executive as a result of the creation of standalone managed companies – Bank Julius Baer, GAM and Artio Global – within the group.

  7. Banque Syz looks to enter Spanish private banking sector

    Banque Syz, the Geneva-based asset and wealth manager, is looking for a partner to enter the Spanish private banking sector, according to a report in Expansion, a local newspaper.

  8. European family office market ripe for growth – report

    The European family office market, which currently has penetrated just 18% of the ultra-wealthy market in the region, is poised for rapid expansion, according to a report from the US-based research and consulting group Celent.

  9. Swiss Banks Seen Dented By Credit Crunch

    TAKING THE PULSE: Swiss banks continued to struggle in the second quarter amid turmoil racking financial markets, as investment banking write-downs pile up. Of Switzerland's three largest banks by market capitalization, UBS AG, which has posted more than $37 billion in write-downs so far, has garnered the most attention.

  10. UBS streamlines operations to woo UK wealth management clients

    UBS has unveiled a campaign to integrate its UK stockbroking unit with the rest of its private banking operations, in an attempt to hold on to more than 10,000 wealth management clients, according to a report in the Financial Times.

Brummel

Headline

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Rich Monitor

Will Smith tops Hollywood earnings list with $80m payout

Will Smith has emerged as Hollywood’s top earner, earning a massive $80m (€51m) last year, new figures compiled by Forbes have shown, according to a report in New York Daily News.

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