Credit Suisse in Saudi Arabia private banking push
Credit Suisse has identified Saudi Arabia as a priority for its wealth management business and is on the hunt to recruit more private bankers.
Wealth Management
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ANALYSIS: Will wealth managers avoid scrutiny on charges?
Has the FCA asset management review missed a trick by not expanding its demands for transparency to wealth management?
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MetLife shuts UK wealth management arm to new business
MetLife UK is closing its range of third-way “wealth management” retirement products to new business citing the ongoing low interest rate environment.
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Schroders launches US focused wealth management company
Schroders has set up a new company as part of its wealth management division called Schroder Wealth US that will sit alongside its existing UK subsidiary, Cazenove Capital.
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Regulation to make life ‘harder and harder’ for wealth firms
Regulation will make the job of a wealth manager “harder and harder” over the coming years, Quilter Cheviot’s Mark Hallam has said.
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Deutsche Bank wealth arm eyes super-rich in Asia, Middle East
Deutsche Bank Wealth Management is hiring 100 client managers around the world in a bid to target the ultra-wealthy, particularly in Asia and the Middle East.
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Science beats psychology in advice, says S Africa’s PCH
With South African clients focused on overseas investment opportunities, local wealth manager Private Client Holdings (PCH) uses investment science rather than psychometric testing to advise clients.
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Tax evasion crackdown will see wealth managers lose $13bn
Wealth managers around the world will lose around $13bn (£10bn, €11.5bn) of annual revenue due to a global crackdown on tax dodging as clients are set pull out $1.1trn out over the next few years, a new report suggests.
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SJP unveils ‘smarter cash’ management platform
St James’s Place has partnered with London fintech group Flagstone to offer clients a new online cash management platform.
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Strong pension business helps SJP net inflows rise to £2bn in Q1
UK-based wealth manager St James’s Place (SJP) has reported net inflows of £1.99bn in the first quarter of 2017, bringing assets under management (AUM) to nearly £80bn, helped by solid growth in its pensions business.
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Succession founder Simon Chamberlain dies, aged 51
Succession Group founder and group chief executive Simon Chamberlain died on Friday 17 March, aged 51.
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China’s bank regulator to close loopholes, increase oversight
The freshly appointed chairman of the China Banking Regulatory Commission (CBRC) has vowed to close cross-market financial product loopholes and tighten oversight of the nearly CNY30trn (£3.5trn, $4.4trn, €4.1trn) held in Chinese banks’ wealth management products.