All articles by PBI Editorial
PBI Editorial
UAE wealthy rush to invest in property
Friends Provident International (FPI) have released their latest investor attitudes report and found that UAE investors now believe property second only to gold as their preferred asset class.
JP Morgan and HSBC lead too big to fail list
The Financial Stability Board’s annual list of the world’s too big to fail banks was released today. Since 2011 the FSB, an international body that monitors and makes recommendations about the global financial system, has ranked the group of global systemically important banks (G-SIBs) in order of extra capital they require.
RDR hits unsatisfied clients with a 7% fee rise
High-net-worth individuals have been hit with a fee rise by the retail distribution review (RDR). The key dispute is that many of them noticing no improvement or difference in the quality of advice given after the fees introduction, writes Patrick Brusnahan.
Australia to be worth an extra $250 billion
Deloitte Access Economics published research today stating that ‘the wealth management industry will be worth an extra $250 billion to the Australian economy over the next 20 years, establishing it as a top five growth sector.’
Million pound donations at highest level since financial crisis
The 6th annual Coutts Million Pound Donors report, in association with the University of Kent, showed a 9% rise in million pound donations in the UK, which took the total up to £1.35 billion, the highest amount since the global recession.
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Butterfield appoints new head of European Private Banking
Kim Hillier will be Butterfields new European head of private banking, chiefly responsible for the private banking arms in both London and Guernsey.
Ireland considered as a ‘corporate tax haven.’
Transparency watchdog, The Tax Justice Network, released their Financial Secrecy Index yesterday, in which they described claims that Ireland’s corporate tax rate as being close to the 12.5% headline rate as ‘fictional’, writes Patrick Brusnahan.
Exclusive: Single-family offices think poorly of many private banking arms
Some of the largest private banking arms, including Merrill Lynch and Goldman Sachs, are starting to be scrutinised by single-family offices in the US.
PBI tests out virtual exhibition
The first ever Virtual Financial Fair (FinFair), the first of its kind, launched today. The event, run by Lombard Odier and E-MERGING, hosted 33 exhibitors and over 700 attendees.
Cost-cutting and consolidation sweeps the industry
The Private Banker International Global Wealth Summit 2013 held in Singapore last month brought together pivotal private banking industry leaders to engage in much needed discussion on evolving business models and the use of technology, the impact of regulatory complexity, and the unique proposition on ultra-high-net-worth clientele. Meghna Mukerjee and Sruti Rao report on key insights from the summit.