All articles by PBI Editorial
PBI Editorial
UBS signs F1 sponsorship, launches ad campaign
Swiss Bank UBS has signed one of the biggest sponsorship deals of the year, teaming up with the organisers of motor racings Formula 1 (F1) championship The agreement will formally launch at the Singapore Grand Prix at the end of September.
Sarasin back in Bahrain after JV false start
Bank Sarasin has stepped back into Bahrain a year after it halted a joint venture in the Gulf state The new venture, Sarasin-Alpen (Bahrain) BSC, has been granted an Investment Business Firm Category 2 licence from the Central Bank of Bahrain to offer advisory services to wealthy private clients Bank Sarasin hinted to PBI in May it wanted to re-launch a joint venture with Bank Sarasin-Alpen, its Dubai-based subsidiary.
Aberdeen eyes fixed income with QFII licenc
Chinas Securities Regulatory Commission granted Aberdeen Asset Management a Qualified Foreign Institutional Investor (QFII) licence allowing Aberdeen to invest in domestic Chinese securities. Aberdeen said it sought the licence to support its Singapore-based Asian fixed income team, which manages more than $5bn in assets The asset manager said it saw Chinas index share growing substantially in the years ahead as, in addition to government issuance, companies are being encouraged to diversify their borrowing away from bank debt.
New York leads US HNW rankings: Capgemini
The population of high net worth individuals (HNWI) in the top 10 US metropolitan statistical areas (MSAs) increased 18% in 2009 Capgemini said it was the highest growth rate in the past four years
People: Rockefeller names former diplomat CEO
Reuben Jeffery, a former Goldman Sachs managing partner, is set to take over the landmark multi-family office following the death of his predecessor Jim McDonald. Former US Commodity Futures Trading Commission chair Reuben Jeffery is to take over as chief executive of US multi-family office Rockefeller Financial following the death of its former chief executive Jim McDonald.
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HSBC sets up Latin America desk in UK
Former Royal Bank of Canada Latin America head Roberto Islas Salcedo is to lead HSBC Private Banks dedicated Latin American desk as part of the UK International platform
Think-tank questions private equity returns and firms’ fees
A UK think-tank study says overall private equity (PE) returns over the past 30 years have been disappointing and raise questions about investors sophistication when choosing to invest in leveraged buy-outs. The study, commissioned by UK economic think-tank Centre for the Study of Financial Innovation, also called into question whether private equity firms deserve to charge high fees.
HSBC eyes Nedbank Wealth in buy-out talks
Nedbank Wealth, the private banking arm of the South African bank, reported assets under management of ZAR97.4bn ($13.4bn) to 30 June 2010, a 17.6% increase from the first six months in 2009.
Morgan Stanley pushes UBS into third
Morgan Stanley-Smith Barney (MSSB) has edged past UBS to become the worlds second-largest wealth manager Deutsche Banks purchase of Sal Oppenheim has lifted it into the top five of Private Banker Internationals Global Index. Improved first quarter figures for both Bank of AmericaMerrill Lynch and UBS suggested the big players were returning to health
ANZ ramps up Asian affluent platform roll-out
Australian bank ANZ swooped on RBSs former private banking businesses in Asia and has launched an affluent platform to target clients with more than $100,000 in assets ANZ Asia-Pacific managing director for retail banking andwealth Wendy Lim outlines what she calls the banks return to the old-fashioned banker concept. ANZs acquisition of selected Royal Bank of Scotland (RBS) private banking businesses across Asia-Pacific cemented its foothold in six of the regions developed and developing wealth markets.