Mergers and acquisitions in the investment advisory industry jumped sharply in terms of deal value last month, mostly due to an $11.8 billion deal that dwarfed all others, according to a Fidelity Investments report. The July report indicated 2019 is on track to set new records in wealth management M&A activity, after a first half…
KEY POINTS About $68 trillion in U.S. wealth is expected to change hands from older generations to younger generations. Yet, 64% of wealthy individuals say they have not shared their plans for their assets with their heirs. These tips can help families start the conversation and make sure that money lasts for generations to come.…
Nicolas Moreau left DWS in October after failing to stem heavy outflows from the business The former boss of Deutsche Bank’s investing arm has been appointed chief executive of HSBC Global Asset Management. Nicolas Moreau will join the business, which looks after around $500bn in assets, in September. He will replace Sri Chandrasekharan, who is moving to…
The wealth-management industry is at an inflection point as innovations such as artificial intelligence, machine learning and big data, combined with the process of digitalization, have the potential to change the competitive landscape dramatically in the next 10 years. Thus, many financial advisors are likely to spend a significant amount of time thinking about the…
Remote channels and algorithms provide cost savings, but only to a certain extent. If personal relationships are compromised so too are private banks’ bottom lines, says GlobalData The importance of personal relationships in private banking is well established. Data from GlobalData’s Global Wealth Managers Survey shows that personal relationships are the number one reason why…
JPMORGAN Chase & Co is hoping to grab a larger slice of Germany’s private-banking market as wealthy individuals increasingly turn to international companies for advice. Traditionally, rich Germans have often maintained loyal relationships with one local lender and one from Switzerland, according to Hakan Straengh, who runs JPMorgan’s private-banking business in Germany from Frankfurt. However,…
A Swiss technology firm is shopping musical assets to super-rich investors. The new investment class offers juicy returns – and unconventional risks. Wealthy investors are hunting private markets for return, as a new push from UBS illustrates. Private debt, hedge funds, art, real estate, cars, cryptocurrencies – the asset classes are enjoying a surge in popularity among…
With other parts of its business facing hefty cuts, Deutsche Bank wants to expand its European operations handling the assets of rich clients and take market share from rivals after staunching the outflow of assets. Hiring new client relationship managers and perhaps making acquisitions in a few years’ time can help fuel growth, said Claudio…
Julius Baer appointed Philipp Rickenbacher as its new chief executive officer, the Swiss private bank said on Monday. He will take up his position from Sept. 1. The 48-year-old, now head of intermediaries and global custody at the private bank, will replace Bernard Hodler who is retiring. (Reporting by John Revill) Source : uk.reuters.com
The new football arena in Zurich will carry the logo and name of Credit Suisse. The bank is already a long-time sponsor of the national team. Credit Suisse, Switzerland’s second-largest bank, has bought the name right to the future football stadium in Zurich, it said in a statement on Thursday. The new arena will be…
