Global Wealth Management 2011
LONDON - Private banks are telling their clients financial volatility surrounding Europe's debt crisis will continue for at least a year as more of the continent's rich seek the comfort of household names or state backing when choosing where to bank.
NEW YORK - As brokerages search for ways to grow in a tight economy, many firms are cutting back on new adviser training programs and instead investing in experience.
ZURICH - Stiff competition for top private bankers has kept a floor under pay even as low interest rates, flaccid client trading and tougher regulation squeeze industry profit margins.
NEW YORK - Portfolio managers at Bessemer Trust, financial adviser to ultra-wealthy U.S. families, took an extremely defensive posture a few weeks ago amid some of the most volatile financial markets in more than 80 years.
GENEVA - Some Swiss bankers are advising clients to steer clear of U.S. securities ahead of a new law that would tax people with over $50,000 invested in stocks or bonds of U.S. companies even if they have never set foot in the United States.
GENEVA - Rich clients of Swiss bank UBS have not yet moved their millions to other banks after its $2.3 billion trading scandal last month, rival private bankers said.
NEW YORK - BlackRock Inc is launching its first alternative mutual funds for retail investors.
GENEVA - Swiss private bankers say a capital shortfall in the financial sector and a clampdown on tax evasion stand in the way of much-need consolidation in an industry battling rising costs and falling revenues.
GENEVA - Switzerland's banking industry is relying on its stability and expertise to ensure it has a bright future as a leading center for managing the assets of the rich, despite a concerted global attack on its tradition of secrecy.
GENEVA - Swiss bank Vontobel AG has seen private client inflows continuing at the same pace as in the first half of the year, private banking head Peter Fanconi said on Wednesday.
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|Japan Investment 2014||May 19 - 21||Financial Services/Exchanges|
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