VP Bank (Luxembourg) has finalised the takeover of the Luxembourg private banking operations of Catella Bank. The transaction, first announced last October, is valued at around CHF10.4m. Catella Bank decided to offload the business after a strategic review. The deal involves the transfer of client assets worth CHF860m to Catella Bank. A total of 11…
Swiss private bank Lombard Odier is expanding its footprint in the UAE by setting up an office in Abu Dhabi. The new branch will be located within the Abu Dhabi Global Market (ADGM), an international financial centre. Through the new office, the bank will offer clients in Abu Dhabi international investment services as well as…
Nick Gartside has left his role as global head of fixed income and bond fund manager at JP Morgan Asset Management. Mr Gartside has been an employee of JP Morgan since 2010 and previously worked at Schroders and Mercury Asset Management. His fund management responsibilities will be taken on by Ian Stealey. A JP Morgan…
Barclays has been given the green light to transfer £160bn of assets to its Irish business as the bank “cannot wait any longer” to implement its no-deal Brexit strategy amid ongoing political uncertainty. A High Court judgement revealed that the bank is pushing forward with its Brexit contingency plan to transfer all of its European…
MEXICO CITY — JP Morgan Chase & Co’s private bank is expanding in Mexico and elsewhere in Latin America, the unit’s regional CEO said on Wednesday, as wealth creation and political changes bolster the sector’s prospects. The bank plans to increase the number of its frontline private bankers in Latin America by 15 percent, the…
In line with its growth strategy, VP Bank in Singapore has reinforced its organisational and management structure and created the new function of the «head of client business». Reto Marx joins the local management of VP Bank Singapore Branchas head of client business, reporting to local CEO Bruno Morel, according to a media release on…
The private bank said it plans to ramp up on hiring private bankers massively this year. The move follows the poaching of an 18-person team in the Middle East last month. Geneva-based Pictet will hire up to 300 bankers in its wealth management and asset management arms this year, senior partner Nicolas Pictet said in…
ZURICH, Jan 14 (Reuters) – Swiss private bank Julius Baer said on Monday it was proposing Romeo Lacher, the current chairman of Swiss stock market operator SIX Group, as its new non-executive chairman. Lacher, a former Credit Suisse executive, is due to replace Daniel Sauter, who will step down after seven years as chairman at…
HSBC Private Bank has appointed a new head of Private Wealth Solutions North Asia. The firm plans to hire for 700 roles over the next five years in the region. Cynthia Lee will join HSBC Private Bank as head of private wealth solutions (PWS), North Asia, effective on 14 January, the bank said in a statement. She…
Credit Suisse has hired a former Citi banker as new head of wealth management Thailand starting on March 20. He takes over from Thippa Praneeprachachon. Natt Thanomsat will be the new head of wealth management Thailand come March, where he will lead a team of investment planners, according to a press release by Credit Suisse. Based in Bangkok,…
