Managers of $350 Billion Survive Nordea’s Cuts as Wealth Thrives As regular bankers at Nordea Bank Abp brace for yet another round of cuts, those lucky enough to be working in wealth management face a very different future. The head of Nordea’s wealth unit, Snorre Storset, says a plan to cut jobs across the organization won’t affect…
UBS Adds $16 Billion From Rich Clients as Assets Hit Record UBS Group AG’s rich clients added $15.7 billion in new money last quarter, giving a boost to star hire Iqbal Khan as he seeks to reinvigorate the key wealth management unit. The inflows lifted assets overseen for the affluent to a record $2.5 trillion,…
Bank J. Safra Sarasin signs on as Davis Cup finals sponsor Bank J. Safra Sarasin has been unveiled as an official partner and the official private bank of the finals stage of this year’s Davis Cup men’s national team tennis tournament. The Swiss-based bank’s agreement with the International Tennis Federation and Kosmos Tennis also names…
Investment advisory firm Crossbridge Capital has launched a premium wealth management service in Singapore called CONNECT Prime. Available to clients at a minimum investment of S$500,000 ($3,75,333), CONNECT Prime offers a range of investment options. The service features an intuitive digital interface to offer investors portfolio reports and real-time portfolio access. It also offers access…
Indonesia’s Bank Mandiri has signed a strategic partnership with Swiss private bank Lombard Odier to develop its private banking business through investment and family services. Under the partnership, the Indonesian bank will launch onshore discretionary management services for its wealthy clients this month. The new service will provide varied risks profiles suited to the unique…
The chief executive of LGT Group, the Liechtensten-headquartered bank that bought ABN AMRO’s Asian private bank just over a year ago, says the number of “sizeable” private banks in the region will fall. Prince Max von und zu Liechtenstein, CEO of LGT Group, told the South China Morning Post that consolidation will continue to be a feature of…
US banking giant Citigroup, which has a private banking segment, will set up an innovation centre in London, according to the Financial Times. The firm will reportedly hire around 60 technologists for the centre. The centre in London will also house the EMEA unit of Citi ventures and employees from across the company’s businesses It will…
Bank of Singapore has just added to the long list of existing banks that have decided to expand or locate in Dubai. They decided to add some 25 relationship managers to its Dubai branch by 2020 in a bid to win business from non-resident Indians and wealthy Middle East clients. Bank of Singapore’s assets under…
Published in Monaco economie, article by Laetitia Reynaud …
This morning the Swiss private bank, Julius Baer takes stock of its 2017 year and reveals some very good result. By reported a 14 per cent year-on-year rise in adjusted net 2017 profit to a record $864 million. At the same time, Julius Baer also announced it has agreed to buy 95 per cent of Brazilian…
