The 222-year-old, Swiss bank was recently awarded a category one licence from the Financial Sector Conduct Authority 25 OCTOBER 2018 – 18:41 WARREN THOMPSONSwitzerland-based private bank Lombard Odier is expanding its services to the South African market, targeting clients looking to diversify their portfolios offshore. The 222 year old bank will provide advisory and related…
The global trust and administration firm Maitland has announced it is launching a multi-family office to service high net worth families, individuals and entrepreneurs in South Africa. In setting up the offering, Maitland acquired Talaria, a Johannesburg-based fiduciary business set up by Cheryl Howard. Howard will now lead the fiduciary team at Maitland’s family office.…
Swiss bank Reyl & Cie has announced it will purchase the Luxembourg private banking arm of family-owned Swedish financial group Öhman. Reyl will acquire all of the outstanding share capital of Öhman Bank Luxembourg, which was established in 2006. A spokesman at Reyl said all the staff at Öhman would be transferred. The deal marks…
The Swiss private bank says there’s clear evidence of wealth creation and growth in the region Julius Baer, one of the top global private banks with more 400 billion Swiss francs ($404.8bn) of assets under management, is eyeing acquisitions in the broader Middle East and Africa region as part of its global growth strategy. “We…
As announced in January 2018, the transaction covers the acquisition of part of Nordea Bank’s business and its integration onto UBS’ platform, thereby providing clients access to its global offering and local expertise. The decision followed a thorough strategic review of Nordea’s Private Banking International activities. The strategic review was part of the transformation of…
Wilmington Trust hired Rohit Malhotra as a senior private banker in the company’s office in New York City. In this role, he will provide complex lending strategies and cash management advice to high-net-worth clients. He will also be responsible for coordinating a broad range of specialized services for clients through Wilmington Trust’s Wealth Advisory and…
Lloyds Banking Group is planning to merge its £13bn wealth management unit into a joint venture (JV) with investment firm Schroders. The successful Lloyds and Schroders wealth tie-up, would create one of the biggest wealth management JVs in the recent years. The proposed tie-up was confirmed by Schroders in a statement. “Schroders confirms that…
Credit Suisse has offered its digital private banking clients in Singapore and Hong Kong access to Apple Business Chat to enable them interact directly with the bank. The service will be available to iPhone and iPad users, who can access it through the Messages app on their devices. Credit Suisse head of private banking for…
HSBC is appointing a veteran Swiss private banker to run its wealth arm in Switzerland, finews.com has learned. Alexander Classen will be named as the new CEO of the British bank’s wealth management arm in Switzerland and Luxembourg, a source familiar with the matter told finews.com. The hire of Classen, a veteran Swiss banker who…
Those willing to jump to rival are seeing increases of 30% or more in Hong Kong and Singapore With great wealth comes great remuneration. Competition to manage the money of Asia’s burgeoning army of millionaires has pushed pay hikes for wealth managers to the highest in more than a decade. Those willing to jump to…
