All articles by Patrick Brusnahan
Patrick Brusnahan
Patrick is a senior reporter working on GlobalData's consumer finance titles. You can reach him at patrick.brusnahan@verdict.co.uk
SGPB appoints CEO for Middle East
Société Générale Private Banking (SGPB) has appointed Gonzague de Cerval as its chief executive and commercial director of SGPB in the Middle East.
LGT to acquire Swiss private banking assets from HSBC
LGT Group Foundation, Liechtenstein’s biggest bank, has agreed to acquire select private banking assets from HSBC Private Bank in Switzerland, a transaction which includes over CHF 10 billion in assets and approximately 70 staff.
Liontrust doubles profits at year end
Liontrust Asset Management recorded an adjusted pre-tax profit of £8.4 million in the year ending 31st March 2014, an increase of 122% compared to the same time last year.
Charles Stanley’s profits drop by a third
Charles Stanley, the UK-based wealth manager, recorded a 33% slide in profits over the year ending 31st March 2014 due to ‘significant cost and investment.’
Insight: HNWI Analysis, Technology and telecommunications
PBI has drawn on WealthInsight’s research to analyse a specific industry which plays a major part in driving high net worth wealth creation. This month, PBI looked at the technology and telecommunications industry in Japan, India, the United States, China and the United Kingdom.
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SGPB Hambros launches advisory division
SCPB Hambros, the UK wealth management arm of Société Générale Private Banking, has launched its advisory division featuring twelve professionals, nine of whom are new hires.
BCG: Global private wealth hits $152 trillion
Global private financial wealth grew by 14.6% in 2013, higher than the growth of 8.7% seen in 2012, to hit a staggering $152 trillion according to the Boston Consulting Group (BCG) in its Global Wealth 2014 survey.
Man Group to acquire Pine Grove
Man Group, the London-based investment management firm, has agreed to acquire US-based fund manager Pine Grove Asset Management.
Stonehage buys out Terra Nova
Stonehage Group, an international multi-family office, has bought out its joint venture partner, Terra Nova Services, in the United States.
Exclusive: Germany’s millionaire population expected to rise by 11%
Germany’s wealthy population has seen fruitful returns over the past five years. The overall wealth from the HNWI population in Germany totals at a staggering $4.2 trillion. This is more than a trillion higher than the $2.87 trillion recorded in 2009. The amount of German millionaires also increased from 1.29 million to 1.38 million between 2009 and 2013, a 7.6% rise. Germany is expected to keep creating millionaires, but an even faster pace in the next few years. PBI’s sister company, WealthInsight, has revealed that the total is forecast to grow by 11% and reach 1.56 million by 2018. However, despite the amount of sheer wealth in the country, the divide between the old East and West Germany is large.