All articles by PBI Editorial
PBI Editorial
Italian police claim HSBC accounts hold $6.9bn
Italys financial police, Guardia di Finanza, said an investigation into bank data stolen from a Swiss HSBC Private Bank branch has revealed close to 7,000 Italian-held accounts, containing an estimated $6.9bn.
Finantix launches iPad wealth applications
Financial software provider Finantix is to launch applications (apps) for financial advisers and individual investors that run on Apple iPads. The apps cover key elements of the advisory value chain: financial planning, portfolio analysis, order management, alerting and client reporting.
HSBC snaps up second $200m Washington block
HSBC Private Bank has bought a second $200m property in Washington DC for a syndicate of its private banking clients, a hint that client interest in the hard-hit commercial real estate sector is increasing. HSBC Alternative Investments Limited and the group of HSBC private banking clients paid $209.2 million for the corner site overlooking Franklin Square Park in the centre of the US capital.
Jupiter: A case of interplanetary overdrive?
Jupiter Asset Managements private client and charities division enjoyed its best year ever during 2009, says Colin Chisholm, who oversees its activities
Middle East: Creating the right model mix
Private banks are having to re-examine their business models as wealth in the Middle East matures from family offices structures to catering for increasing investment appetites
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Middle East: Rebuilding wealth confidence
A lack of business assurance and slow-moving capital markets are just some of the difficulties private banks and wealth managers face in the wake of the Middle Easts confidence crisis
Middle East: Family wealth, professional strain
Multi-family offices are increasing their reach and professionalisation in many wealth management markets, but barriers still exist for the Middle Easts very wealthy making the leap from single-family offices Private Banker International (PBI):The last 18 months have seen single-family offices increasingly appointing external risk and investment consultants, refreshing in-house teams and combining to form multi-family offices
Flavel hands over StanChart reins
The founding head of Standard Chartered Private Bank, Peter Flavel, is moving on to take on the role of global head of the banks personal banking unit Fellow Australian Shayne Nelson, the current regional chief executive for the banks Middle East and North Africa business, is to replace his countryman.
Sharia investing: promising or premature?
The Middle East wealth management industry is well placed to exploit the growth in Islamic investments which has a potential market estimated to be well over $700bn Ernst & Youngs 2009 Islamic Funds and Investments Report estimates that Sharia-sensitive investable assets in 2008 in the Gulf Cooperation Council (GCC) and Asia touched $736bn with assets under management (AuM) believed to be around $35bn
Russians lack succession plans, wealth strategy
Russias first generation wealthy are ill-prepared to pass on their wealth to the next generation with many more focused on wealth creation and immediate business needs following the financial crisis, according to UBS-sponsored research. The Campden Research study found more than half (56%) of wealthy Russians did not involve family members in their businesses with only 32% of respondents saying they would encourage their children to become involved in the family business.