Swiss asset manager Bellevue Group is mulling the sale of Bank am Bellevue, its banking arm. Bank am Bellevue focuses on entrepreneurial private clients, offering them wealth and investment advisory services. Bellevue confirmed that it has already carried out negotiations with interested parties regarding the sale. However, the firm stressed that no deal has been…
EFG International is expanding its business to Portugal and has appointed an independent wealth manager to lead the local team. Apart from the core business in Switzerland and Italy, EFG International also considers Europe as its key market. The bank has now decided to open an advisory branch in Portugal in September of 2019 following…
The chief executive of JP Morgan Asset Management, Chris Willcox, is retiring after 13 years at the firm, according to an internal memo seen by Citywire. Willcox has decided to take time off from the industry and has been replaced by George Gatch (pictured) as the firm’s CEO of asset management. Gatch was in charge…
KEY POINTS Goldman Sachs is merging four separate private-investment groups into one unit in an attempt to generate steadier income and make itself more attractive to investors, The Wall Street Journal reported Sunday. The new division, which combines units investing in private companies, real estate and “other hard-to-access deals,” is expected to command roughly $140…
PBI’s London Awards were announced on Thursday at a ceremony in London’s West End, which recognised the best private banks, wealth managers and vendors in the UK and Europe. The awards followed PBI’s London conference on the same day, which identified some of the major trends affecting private banking and wealth management in the UK and…
EFG wants to bolster the business with independent asset managers. The private bank is launching a multi-custody platform for this purpose. EFG International, a Zurich-based private bank, will broaden the services for independent asset managers over a three-year period. In a first step, the bank will launch a new platform, the company said in a…
Swiss bank Pictet Asset Management forecasts that the era of American leadership in financial markets is ending, and that now is the time for diversification away from US equities. Pictet picks out alternative assets such as gold, hedge funds, and real estate markets as areas that investors should look to for diversification. “The US is…
As innovative business models emerge in the wealth management industry, retention is becoming increasingly challenging for wealth managers, according to a report published by Ernst & Young in May 2019. Strengthening personal relationships with clients is one of the best ways to combat disloyalty. Ernst & Young’s 2019 Global Wealth Management Research report identifies the…
