US Elections 3rd November 2020

With Biden bets and Trump hedges, investors prepare for U.S. Election Day   Four years after Donald Trump’s surprise presidential victory roiled markets, investors are prepared for short-term trading turmoil and major long-term policy shifts, on the eve of Tuesday’s U.S. election. Investors could confront dramatically different paths for the country on taxes, government spending,…

The US Securities and Exchange Commission has granted a three-year extension to the MiFID II relief period for American firms.

The SEC will allow US brokers to continue bundling execution and research payments for another three years. In October of 2017, the SEC published a ‘no-action letter’, stating that American firms did not need to actively adhere to MiFID II’s unbundling guidelines. This letter was due to expire in July 2020.  This latest statement by…

Grandpa’s hold it all

Wealth management in Japan is a totally different story to anywhere else in the world. In most of Asia it is about rising youth, an emerging middle class and the technology required to serve them. In Japan, it’s nothing like that.  Daiwa president and chief executive Seiji Nakata shows Euromoney a chart revealing the segmentation…

Barclays believes in Europe

Barclays has rebalanced its equity focus away from the U.S. and toward Europe and emerging markets for 2020. In its 2020 outlook, published Wednesday, the British lender said it expects European equities to deliver further gains, setting a target for the Stoxx 600 of 430 by the end of 2020, up 6% from Wednesday’s open. The rise is…

Death of humanity ?

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…