Bank of Singapore, the private banking unit of OCBC Bank, has officially opened its European wealth management unit to cater to the region’s growing UHNW consumer base. Dubbed BOS Wealth Management Europe (BOSWM), the new subsidiary is based in Luxembourg and has a branch in London. Bank of Singapore CEO Bahren Shaari said: “Europe has…
The Peninsula JP Morgan Private Bank yesterday announced that Steve Wainwright has been named Managing Director and senior Banker to the firm’s Middle East and North Africa (Mena) team in Geneva. Wainwright will join an award-winning team of advisors providing investments advice and generational wealth planning for ultra-high net worth clients and prospects across the…
There is a renewed interest from asset and wealth managers looking to find a new job in the US, as over a half saw salary increases over the past year. Research from Kathy Freeman’s 2019 Annual Talent Trends Report shows investment industry professionals are 20% more willing to consider new opportunities than last year. The results…
Lombard Odier has become the first global wealth and asset manager to receive the B Corp certification, as recognition of its corporate sustainability. The B Corp award is a globally recognised accreditation for ESG performance, and involves a stringent assessment of such things as people management and environment footprint. B Corp is the initiative of…
A reduction in the number of EU tech graduates moving into the UK is making it difficult to recruit and retain talent in the finance sector, and Brexit could be partially to blame. The Fuelling Fintech report from TheCityUK, which promotes Britain as a financial centre, and recruitment firm Odgers Berndtson, said fintech and other…
Standard Chartered Private Bank has appointed Ali Hammad as Market Head, Private Banking, Middle East and North Africa (MENA). Ali is based in London and reports to Stephen Atkinson, Regional Head, Private Banking Europe, Middle East and Africa. Hammad brings with him some 30 years of private banking experience. He joins from Coutts & Co.…
‘Australia is one of the most attractive and fastest growing wealth management markets worldwide’ Swiss private bank EFG International will acquire 51% of the Australian wealth manager Shaw and Partners for up to A$61m (£32.7m, $43.2m, €38.2m) via a combination of cash and EFG shares. The deal is subject to regulatory approval in Switzerland and…
The global UHNWI population is forecast to grow by 22% in the five years to 2023, meaning an extra 43,000 people will enter the wealth bracket defined with a net worth of over $30,000,000. Knight Frank, a global property consultancy, which announced the findings on Wednesday, said the increase meant one new UHNWI created every…
Swiss private bank Lombard Odier has reported a consolidated net profit of CHF272m for the year ended 31 December 2018. This is a jump of 86% from last year’s figure of CHF146m. The increase in profit was said to be driven by one-time items. Excluding one-time items, consolidated net profit increased 13% to CHF165m on…
UBS Board of Directors has nominated Jeanette Wong and William C. Dudley for election to the board of UBS Group AG at the Annual General Meeting of shareholders on 2 May 2019. Wong was group executive responsible for the Institutional Banking business at the Singapore-based DBS Group, until March 2019. Previously, she served as chief…
