Industry Summits
Wealth managers in style battle-clubby or slick?
BOSTON (Reuters) - Plush carpets, oak-paneled walls, numbered accounts, hidden vaults, and bankers whose impeccable manners are exceeded only by their unparalleled discretion, are all part of the private banking folklore. Full Article
Room for big and small in wealth industry
BOSTON (Reuters) - As the battle over managing assets of the rich heats up, experts see room for both boutique bankers who offer personalized service like arranging home repairs and big private banks that make million-dollar loans and offer access to exclusive hedge funds. Full Article
Glenmede sees banks retreating from wealth market
BOSTON (Reuters) - Major banks may be hiring private bankers like mad, but could pull back when they recognize other businesses offer higher margins, the head of a small wealth advisor said. Full Article
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Bank of NY Mellon expects more acquisitions
BOSTON (Reuters) - BNY Mellon Wealth Management plans to acquire more wealth managers as it expands its business in the United States, the company's chief executive said on Wednesday. Full Article
JPMorgan setting up distressed debt fund
BOSTON (Reuters) - JPMorgan Chase & Co is creating a distressed debt fund which will be offered to the No. 3 U.S. bank's deep-pocketed clients, the head of its U.S private bank said on Wednesday. Full Article
Women make headway in private banks' male world
GENEVA (Reuters) - The high-powered world of looking after money for the ultra-rich remains dominated by men, but women are playing an increasingly bigger role, both as bankers and clients. Full Article
JPMorgan says to add private bankers
BOSTON (Reuters) - JPMorgan Private Bank expects to increase the number of its U.S. bankers by about 10 percent annually over the next few years, the head of its U.S. business said on Wednesday. Full Article
Staff shortages may hold back wealth managers
GENEVA (Reuters) - A lack of staff may dent the growth outlook for wealth managers and those banks which fail to satisfy increasingly demanding clients could feel the pinch the most, industry participants said. Full Article
Some bankers see rich pickings in Latam
GENEVA (Reuters) - While many of the world's wealth managers chase a growth bonanza in Asia and the Middle East, Spanish private bankers believe the richest pickings are to be had in Latin America. Full Article
BNY Mellon wealth unit to boost staff
BOSTON (Reuters) - BNY Mellon's wealth management division is planning to increase its sales force by as much as 100 percent in the next few years as it aggressively expands in the fast-growing $100 trillion industry, a top executive said. Full Article
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