French private bank enters UK wealth space
Banque Transatlantique, part of French banking group Crédit Mutuel-CM11, is launching a wealth management business in the UK.
Wealth Management
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Financial adviser numbers surge in Malaysia
The number of firms engaged in financial planning in Malaysia has increased by 45% since 2015, while the number of licensed financial planners has grown by around 23%, according to Ahmad Fairuz Zainol Abidin, Malaysia’s Securities Commission deputy chief executive.
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Abu Dhabi creates foundations framework for wealth management
Abu Dhabi Global Market (ADGM), the financial free zone in the capital of the UAE, has launched of a new legal structure to support the growth of its wealth management industry.
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Hong Kong’s Mason plans acquisitions for wealth unit launch
Hong Kong financial company Mason Group Holdings has announced plans to build an offshore wealth management business with at least $3bn (£2.3bn, €2.5bn) in assets from the ground up through a series of acquisitions.
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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.
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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.