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People Moves: StanChart names global WM boss; Credit Suisse makes two senior appointments
StanChart names Didier von Daeniken global head of PB and WM. Von Daeniken joins Standard Chartered from Barclays, where he ran the British firm’s Asia-Pacific and EMEA private banking division since 2007. In his new role, von Daeniken will handle both private banking and wealth management, divisions previously been ran by separate people. Deal Street Asia Credit Suisse makes two
The difference between investment and private banking
Stiffer capital requirements and more onerous regulatory burdens have taken their toll on traditional investment banking activities. Sales and trading margins are also being undercut by new competitors as well as technologies that make an intermediary’s function redundant. Some banks, notably Credit Suisse and Deutsche Bank a couple of months ago, are if not re-inventing themselves as private bankers then
Video: Dollars vs impact: How millennials measure success
In a speech before the Financial Research Associates, wealth marketer April Rudin describes the key values for "global, mobile" millennials.
Who will dominate the retirement advice business?
In the way Amazon dominates the book-selling business, a financial-service provider will emerge as the leading provider of retirement-income strategies. Here is how to assemble a full business model and my predictions about which companies have the best chance to take over. The retirement advice business is fragmented, inefficient and serves only a small segment of the population. It’s a
Planning to avoid family conflict
  The wealth management industry tends to sing similar tunes. The strength of an individual private bank's voice might vary, but the songs don't. Sometimes they emphasise open architecture, other times digital technology, philanthropy, holistic service, all-round corporate strength or access to trophy assets. An especially loud trope at the moment is "succession planning". In terms of succession planning, many family businesses fail, not
People Moves: Old Mutual Wealth distribution chief exits after 3 months
Old Mutual Wealth distribution chief exits. Mary-Anne McIntyre is leaving Old Mutual Wealth after just three months as chief distribution officer. She will be pursuing other opportunities. Andy Thompson has been appointed CEO of Intrinsic Financial Services, reporting to Richard Freeman, the new chief distribution officer. Financial Times Photo: ©    
Classic cars are top performers
Passion investments normally make up a small part of a wealthy person's portfolio. The bulk goes into stocks, bonds and real estate, some into racier alternatives such as private equity but only the leftovers into collectibles for a bit of fun. Experts advise you to have a genuine interest, whether it's in art, stamps, watches or even comic books and old toys,
People Moves: Manulife AM makes two senior hires; Crédit Agricole veteran to leave
Victor Choi to exit Crédit Agricole. Choi, the French firm’s Asia head of market and investment solutions, will be leaving the private bank at the end of year. Choi is a 10-year veteran of Crédit Agricole’s wealth management arm, and was the firm’s head of FX and precious metals advisory prior to recent station. He will be replaced by Norbert
People Moves: UBS names head of Asia-Pacific wealth management
UBS appoints Edmund Koh head of Asia-Pacific wealth management. Koh, an over 20-year veteran of the financial services industry, will be replacing Kathryn Shih, who was named regional president of the Swiss bank. He will also continue with his previous role as UBS’ country head in Singapore, and remains a member of the firm’s global wealth management executive board. Finance
Morgan Stanley focuses on wealth management
<p>Morgan Stanley reportedly plans to fire a quarter of its fixed income staff, and the move could be another step closer to Morgan Stanley's focus on wealth management.<br /> "If Morgan Stanley downsized FICC, then we believe that would also decrease volatility in earnings and move them closer to a long-term strategy of having Wealth Management be the main revenue contributor to total revenues," writes Brian Kleinhanzl of KBW, in Barron's. "We believe that MS could see a better relative multiple versus the Universal Bank group once the percentage of Wealth Management and Investment Management revenues reach 75% of total revenues (expected to be 51% in 2016)."<br /> Staff cuts always hurt, but it sounds like Morgan Stanley is making smart, strategic moves with this one.<br /> Photo: gerlos </p>