All articles by PBI Editorial
PBI Editorial
Lack of confidence clouds Middle East outlook
The Middle East wealth management market is struggling to find its feet again as it deals with a wavering capital market, a lack of suitable investment products and questions over whether Sharia-compliant solutions provide the returns they promise.
Leaders shape up to regain global bank crown
The worlds wealth management leaders have had to battle tough trading conditions over the past 12 months, making competition for PBIs Outstanding Global Private Bank award even more intense
Hinduja Bank snaps up KBC private banking arm
Hinduja Group is to buy KBC Groups banking subsidiary KBL for 1.35bn ($1.65bn) to give its Swiss bank greater access to the fast-growing Middle Eastern, Indian and Asian markets. Family-run Hinduja Bank, based in Switzerland, has long been linked with KBCs private banking arm and group CFO Ajay Hinduja hinted in March (see PBI 258) that Hinduja was in discussions with several other potential merger and acquisition targets.
ANZ opens wealth management office in Nagoya
Australian bank ANZ has opened a new wealth management sub-branch in Nagoya as part of its focussed growth plans to service affluent clients in Japans key cities.
Wealthy German clients threaten to switch banks
Nearly half of private banking clients in Germany (43%) are considering switching to another provider despite being largely satisfied with their banks and wealth managers, according to research firm MyPrivateBanking The study, Client Monitor Wealth Management Germany, found 47% of clients with investable assets of more than 500,000 ($617,676) were considering a change
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Lloyds wants top 5 spot in 3-5 years
Lloyds is looking to leverage its position as the UKs largest retail bank to build into one of the top five UK private banks in the next 3-5 years, according to the director of its international ultra high net worth (UHNW) unit Malcolm Glaister.
Discretionary managers outperform funds: ARC
Private client managed funds tend to be more benchmark aware and exhibit more stable risk profiles but private client discretionary portfolios have the edge in returns over a full investment cycle, according to Asset Risk Consultants. The Guernsey-based consultants’ study sought to investigate whether discretionary managers have added value versus managed funds during the difficult markets of the last couple of years.
Investec signs on Mercer for HNW research
Investec Specialist Private Bank is to use US consultant Mercer to provide its high net worth client investment research. Mercer employs more than 70 manager research professionals dedicated to maintaining ratings on more than 5,500 investment strategies. Investec will access Mercer’s Global Investment Manager Database and its Manager Performance Analytics tool in selecting funds and constructing client portfolios.
Sarasin ends Spanish JV, again eyes Bahrain
Bank Sarasin, the Swiss private bank owned by Rabobank, may re-launch its joint venture in Bahrain after announcing it is to close down its Spanish subsidiary Sarasin Aln Agencia de Valores S.A.
Julius Baer AuM up 14%, ING integration nears
Julius Baer Group’s reported positive net new money inflow compared to the second half of 2009 in the first quarter of 2010, although this was reduced by the impact of the Italian tax amnesty and it winding down its US client business.