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…
New York has surpassed London to regain the position of the world’s leading financial centre, triggered by uncertainties related to Brexit. This was revealed by a report from Duff & Phelps, which polled more than 180 executives covering various areas such as asset/wealth management, private equity/hedge funds, and brokerage. Of the executives polled, 52% viewed…
Lombard Odier is pleased to announce the arrival of Mr. Stephen Kamp as Chief Operating Officer (COO) for private clients. A member of the Executive Committee, he will be based in Geneva and will take up his duties on 16 August 2019. He will report to Frédéric Rochat, co-Head of the Private Clients business. S.…
Following Private Banker International’s second Germany conference at the end of April, and a collapsed merger between two of the country’s largest banks, Oliver Williams takes a look at the future of private banking in Germany. Future of private banking in Germany: More Mergers After talks stalled between Deutsche Bank and Commerzbank last month, rumours have…
Citi Private Bank is appointing a veteran to run its business in Switzerland and Monaco. Her remit is somewhat smaller than that of her predecessor. Laurence Mandrile-Aguirre will take over the U.S. bank’s wealth management operations in Switzerland and Monaco over the next two months, according to a memo seen by finews.com. She takes over from James Holder,who is…
US-based investment bank Morgan Stanley is planning to cease its banking operations in Russia in the first quarter of next year according to Reuters. Citing the reason for the move, the bank’s Russian arm said in its annual report that it was becoming tough for businesses in Russia to gain international capital markets access owing…
Private Banker International’s Germany Awards were announced on Tuesday at a ceremony in Frankfurt. These awards are an extension of the well established Private Banker International Global Awards that took place in Singapore last year. These awards are designed to identify leading institutions that are setting new standards in private banking and wealth management in Germany. …
Former Barclays private bank CEO Francesco Grosoli is appointed head of storied Monaco boutique Compagnie Monégasque de Banque. Compagnie Monégasque de Banque, one of Monaco’s leading private banks, announced this week that Francesco Grosoli is to be its new chief executive. CMB, a wholly owned subsidiary of Italian investment bank Mediobanca SpA, said that the appointment…
Credit Suisse set a positive tone for this quarter’s European bank results on Wednesday, lifting its net profit as gains in equities and deeper ties between trading and private banking helped offset lower revenue. Switzerland’s second-biggest bank bucked market expectations of a profit dip and said it gained market share in equities trading during a…
