All articles by Ilya Timofeyev
Ilya Timofeyev
Clariden Leu restructures, names female exec
Zurich-headquartered private bank Clariden Leu has completed a major restructure, creating a new Market and Wealth Management division and organising into two geographical groups: Switzerland and Europe, and International Markets. Switzerland and Continental Europe market areas and its External Asset Managers (EAM) business will combine to form the Switzerland and Europe division under the leadership of Urs Emmenegger.
Global wealth to hit $162trn by 2015: BCG
Global wealth continued its recovery internationally in 2010, growing by 8% or $9trn to $121.8trn and is forecast to grow at a compound annual growth rate (CAGR) of almost 6% to reach $162trn by 2015. US-based management consultancy Boston Consulting Group (BCG) said the new global wealth figure was $20trn above where it stood two years ago during the depths of the financial crisis. BCGs 2011 global wealth report, Shaping a New Tomorrow: How to Capitalize on the Momentum of Change, noted that although there was a return to growth, disruptive forces, including increased regulatory oversight and changes in client behaviour, were rewriting the rules for wealth managers.
Brewin Dolphin pre-tax profits drop 21%
Pre-tax profit at UK-listed wealth and investment management firm Brewin Dolphin dropped 21% to £ 12m in the six months to 27 March, down from £15.2m in the six months to 28 March 2010.