Managers of Wealth Americas

The Private Bank of California Reports Second Quarter 2012 Results

Year-to-date 2012 net interest income totaled $8.7 million, a 21% increase over the prior year.

Canaccord Wealth Management reports $7.3 million loss

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

Morgan Stanley 'could close offices and cut staff'

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.

Richest Family Offices Seeing Fastest Growth as Firms Oust Banks

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.

Monarch Bank to launch private banking unit

He joins Monarch with over 28 years of banking and investment experience.

Wall Street bankers face severe pay cuts

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.

CIBC buys private wealth management firm

The business manages some $1.4 billion in assets for high net worth individuals families, endowments and foundations.

Active investor champions unlimited partnerships

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.

Charles M. Bliss, former chairman and CEO of Harris Bank, dies at 90

Harris' vaunted bond portfolio was vulnerable because the bank had expected long-term interest rates to subside before they eventually did.

Global Asset Management Profit Margins at Risk - Research

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.

Young Investors’ Assets and Loyalty Up for Grabs by Wealth Managers

Online capabilities crucial to younger generations, Aite Group study finds

Wealthy Foreigners Lured by U.S. Based Private "Edge" Banks

Banco Santander operates an “Edge Act” bank based in Miami that provides private banking services exclusively to wealthy foreigners, primarily Latinos.

Billionaire Hedge Fund Manager Returns $2B To Investors, Blames Merkel

The Times notes that by giving back $2 billion Bacon is losing revenue and potential performance fees if the remaining investments do well.

BMO Financial Group Merges Harris Bank and M&I Bank's Financial Advisor Networks

Newly formed group will include a network of 230 professionals serving clients in 11 states

Hewins Financial Launches Key Access Services

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.

Miami’s international banking clients move money to protect financial privacy

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.

Private banking: Wonder of world wealth

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.

The rich may not be so different after all

Why Hedge Funds Are Going Mainstream

H&R Block Tax Mogul to Leave Fortune to Family Foundation

Mr. Bloch, who tied for 39th on last year’s Philanthropy 50 list of the nation’s top donors, said the dollar amount of contributions to the foundation would remain private for now but that it would ultimately rank among the region’s larg

Wealth management industry not sufficiently in tune with the needs of young investors - research

More than 1,000 US investors surveyed reveal convenience and online tools are key reasons for Gen-Xers and Gen-Yers to shift assets between financial institutions

Wealth and Asset Management