Thursday, 20th November 2008

 

13 October 2008 - Press Briefing

AIG said to hire UBS for auction of Swiss private banking unit

American International Group has recruited UBS to auction its Swiss-based private banking division, AIG Private Bank, sources said, according to a Reuters report.

AIG, besieged by losses on distressed mortgage bets, is seeking to offload assets to repay a huge US government loan.

Tags: AIG Private Bank , American International Group , UBS

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Headline

Mayfair goes Modern

Sebastian + Barquet, a three-year old design gallery based in New York and Chelsea, is opening a new gallery showing museum quality pieces in Mayfair next month, the first in London to focus on international modernism from the 1940s to the 1960s. Its opening exhibition is dedicated to American modernist design and is curated by celebrated architect Eric Parry.

Rich Monitor

Barclays Wealth forecasts 400,000 Indian dollar-millionaires

Barclays Wealth on Wednesday predicted the number of dollar-millionaires in India to grow to over 400,000 by 2017, making it a leading world wealth market, according to a report in The Economic Times of India.

More from Wealth Business

  1. UBS continues plan to close offshore private banking for US clients
  2. Comment: Goldman Sachs turns full circle
  3. Morgan Stanley predicts big wealth outflows at UBS
  4. Barclays Wealth unveils Indian operations
  5. Indonesian private banking client sues Merrill for $90m

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