08/09/2012
The dinner meetings will be held three times a year, Wharton and IPI said in a statement. After the New York dinner, the next gathering will take place in March in San Francisco.
08/08/2012
It is unclear why the discussions fell through, although one of the sources said he believed it was because the two companies could not agree on pricing and succession.
08/08/2012
Year-to-date 2012 net interest income totaled $8.7 million, a 21% increase over the prior year.
08/08/2012
Canaccord Wealth Management generated $37.6 million in revenue and, after expense allocations, recorded a net loss of $7.3 million before taxes in Q1/13
08/07/2012
Morgan Stanley has told investors its wealth management business, weighed down by an expensive merger integration and a tough market environment, can deliver mid-teens pre-tax profit margins.
08/06/2012
The assets that FMP supervises grew 30 percent to $2.6 billion as of Dec. 31, just behind Signature, a Norfolk, Virginia-based family office that expanded 36 percent in 2011 to $3.6 billion.
08/06/2012
He joins Monarch with over 28 years of banking and investment experience.
08/06/2012
Wall Street bankers look set to be hit by severe pay cuts this year as the industry's heavyweights come under pressure to axe costs, recruiters have warned.
08/06/2012
CIBC buys private wealth management firm
The business manages some $1.4 billion in assets for high net worth individuals families, endowments and foundations.
08/05/2012
Your humble correspondent’s mind drifts back to December when Magne Orgland, head of asset management at Wegelin & Co, sat in the same room telling the very same story.
08/05/2012
Harris' vaunted bond portfolio was vulnerable because the bank had expected long-term interest rates to subside before they eventually did.
08/02/2012
According to a new industry analysis surveying 96 money managers worldwide that oversee approximately $21 trillion in assets, profit margins since the financial crisis have been managed by controlling compensation and benefits expense.
08/01/2012
Online capabilities crucial to younger generations, Aite Group study finds
08/01/2012
Banco Santander operates an “Edge Act” bank based in Miami that provides private banking services exclusively to wealthy foreigners, primarily Latinos.
08/01/2012
The Times notes that by giving back $2 billion Bacon is losing revenue and potential performance fees if the remaining investments do well.
08/01/2012
Newly formed group will include a network of 230 professionals serving clients in 11 states
07/31/2012
Key Access Services focuses on clients who do not yet require complex financial planning or tax management services, but would like to take advantage of optimized, low-cost, and tax-efficient investment models.
07/31/2012
The new rules, set to go into effect early next year, require U.S. banks to report interest information on accounts held by nonresident foreign nationals to the Internal Revenue Service, which could then share it with depositors’ home countries.
07/31/2012
The global banks are allocating more resources to private banking and wealth management in a bid to capture the growing wealth globally and switch to more stable fee-based revenues.
07/31/2012
Why Hedge Funds Are Going Mainstream