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…
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…
Published in Monaco economie, article by Laetitia Reynaud …
UBS isn’t about to cave in a French offshore tax investigation: the Swiss bank is rejecting a billion-euro settlement with French authorities. Zurich-based UBS is negotiating a settlement to a long-running offshore investigation in France. The matter has become a question of honor for its private bank more than a purely economical one, as CEO Sergio Ermotti said in…
Swiss private bank Lombard Odier has reported a consolidated net profit of CHF124.5m for the year ended 31 December 2016. The group’s operating income was CHF1.04bn. Total client assets as of 31 December 2016 were CHF233bn, an increase of 4% compared to the last year. The growth was bolstered by net inflows of CHF5.2bn. Lombard…
The head of Morgan Stanley’s international wealth management team, James Jesse, has left the firm, a spokeswoman said on Friday. Colbert Narcisse, who led product strategy and development in Morgan Stanley’s investment solutions division, will replace Jesse, according to a firm memo and Morgan Stanley spokeswoman Christine Jockle. Narcisse joined Morgan Stanley’s investment management division…
French capital is competing to pick up business lost by London due to Brexit, with Frankfurt and Dublin also in the running. Major City employers are expected to decide within weeks whether they need to move business out of the UK as a result of the Brexit vote, the lobby group for Paris has predicted…
