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
Duncan Lawrie appoints new CEO
Duncan Lawrie Private Bank has appointed Byron Coombs as its chief executive officer replacing Matthew Parden, who leaves after seventeen years.
SNB President believes Swiss private banking called into question
Swiss National Bank (SNB) president Thomas Jordan has claimed that legal altercations have cast doubts on Swiss cross-border private banking activities, according to Bloomberg.
Rothschild open Milan office
Rothschild Wealth Management has opened an office aimed at providing wealth management service to private investors in Milan.
ABN AMRO reports strong results
ABN AMRO recorded EUR 378 million underlying net profit in the first quarter of 2014, EUR 88 million higher than the same period last year.
Round Up: Highs and lows for private banks in Q1
The latest Q1 private banking figures show that confidence is coming back to the financial markets not just in revenue, but also in profit. Several banks saw positive results in the quarter, particularly in terms of revenue and asset flow. Some banks even broke records this quarter while others have seen the benefits of acquisitions come to fruition. On the other hand, certain private banks have seen diminishing returns in this quarter. This has led to consolidation plans from institutions hoping to cut their losses and remove themselves from turbulent markets. Another crucial aspect is attempting to keep client loyalty despite uninspiring results.
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Old Mutual Wealth more than doubles net sales
Old Mutual Wealth, which comprises of Skandia and Old Mutual Global Investors, has recorded net sales of £1.1 billion in the first quarter of 2014, more than double the £0.4 billion earned in the same period last year.
Arbuthnot aims to raise £20,000 for charity
Arbuthnot Latham, the private banking division of the UK-based Arbuthnot Banking Group, is aiming to raise £20,000 by 31st July for children’s literacy charity, Beanstalk.
Julius Baer sees AuM rise 4%
Swiss bank Julius Baer’s assets under management (AuM) have risen to CHF 264 billion in the first four months of 2014, a 4% rise from the end of 2013.
Rathbones’ FuM increase 16.3% year-on-year
British wealth manager Rathbone Brothers’ first quarterly results of 2014 were positive with funds under management (FuM) rising to £22.8 billion, 3.6% higher than the previous quarter and 16.3% higher than the same period last year.
Julius Baer completes transfer in Netherlands
The transfer of Merrill Lynch’s International Wealth Business (IWM) in the Netherlands to Julius Baer has been completed.