All articles by Ronan Mccaughey
Ronan Mccaughey
BMO’s private client group reports positive results
BMOs Private Client Group net income, excluding insurance, was $103m in Q4 2011, a year-on-year rise of 20% as the business continued to grow despite challenging equity markets. Revenue for BMOs Private Client Group was $699m in Q4 2011, up $106m or 18% from the prior year Assets under management and administration at BMOs Private Client Group grew from $264bn in Q4 2010 to $422bn in Q4 2011.
Bank Millennium offers private banking in Poland
Bank Millennium whose strategic shareholder is Portugals Millennium bcp has launched a private banking service in Poland that is available to consumers with assets in excess of PLN 1m ($300.809) According to Bank Millennium in Poland, it has almost 2000 such customers, with their funds accounting for almost 20% of the total value of assets of all its individual customers.
Credit Suisse makes senior appointments for Philippines
Credit Suisse has appointed Angela Bow and Albert Ma to senior roles in its private banking division where they will cover the Philippines market Bow is due to become Credit Suisses managing director and market leader for the Philippines in its private banking division from 6 December 2011. Based in Hong Kong, she will report to Martin Kuenzler, managing director and market area head for emerging Asia at Credit Suisse
Environmental responsibility ‘low priority’ for UHNW clients
Securing their families financial security ranks higher to ultra high net worth clients (UHNW) than charitable activities, ethical investing and environmental responsibility, according to a poll of 60 international advisors in the UK for UHNW clients
Go for gold’ says UBP’s CIO
Alan Mudie, chief investment officer of Union Bancaire Prives private banking division has argued that gold is the only asset that can get investors through the current economic crisis as it is the ultimate shield from the risk of monetary chaos and the depreciation of currencies.
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Banker KPIs need to be focused on client
The presentation by Bruce Weatherill, CEO and founder of Bruce Weatherill Executive Consulting, at the PBI Summit came after his recently released a report, The Value of Trust. The report is based on the responses of 369 clients and 285 wealth managers from around the world.
Defined segments must shape strategy
Delegates at the 21st Private Banker International Wealth Summit in Singapore heard that success in global private banking depends on clearly deciding which clients to target, focusing on sustainable growth and delivering client centricity. Numerous challenges currently face the global private banking and wealth management industry from regulatory obstacles and declining industry profitability, to attracting talented staff.
Winning strategies in global private banking
Delegates at the 21st Private Banker International Wealth Summit in Singapore have heard that success in the global private banking industry significantly depends on clearly deciding which clients to target, focusing on sustainable growth and delivering client centricity These were just some of the key themes presented at a packed and interactive summit , which was organised by VRL and held at Raffles Hotel in Singapore, on 13 October Commenting on winning strategies in global private banking, Nick Pollard, CEO of RBS Coutts Asia, said the financial institution has understood where it can build a critical mass, which is a key strength
Nikko AM seals alliance with DBS Bank
Nikko Asset Management Group (Nikko AM) has completed the acquisition of DBS Asset Management (DBSAM) from DBS Bank making Nikko AM the largest regional asset manager headquartered in Asia
Singapore private bankers’ salaries outstrip Swiss peers
Senior private bankers in Singapore can earn nearly double the salary than their counterparts in Switzerland, according to a study on wealth management compensation in Asia and Europe from executive search firm EMA Partners International. This reveals that senior private bankers in Singapore can earn between $164,216 and $410,541 while the comparative range in Switzerland is $152,736 to $209,396.