Offshore wealth defined as assets booked in a country where the investor has no legal residence or domicile rose by 6.1% in 2012, with Western Europe the predominant source and Switzerland “the most popular destination”.
London & Capital, the London-based wealth management firm, said a new division launched last year to cater for high-net-worth immigrants to the UK is off to an “impressive start”.
Reyl & Co is opening a London office which will focus predominantly on wealth management, the Swiss bank has announced.
Tony Shah has left Christchurch Investment Management to join OakTree Wealth Management in Henley-on-Thames where he will head a new international division.
Deutsche Bank has launched a fund specifically seeking to identify stocks most likely to continue to pay dividends to investors.
The distance between the worlds largest international wealth management firms and its smaller, boutique players widened in 2011, as the bigger institutions weathered the storms of 2011 more successfully, according to an annual assessment of the industry by Scorpio Partnership.
Deutsche Bank International has promoted Jonathan Peake to head of operational risk management for private wealth management of its Channel Islands and Cayman Islands operations.
HSBC has entered an agreement to dispose of its Thailand-based retail banking and wealth management arm, and expects the deal to be completed in the first half of 2012.
Barclays Wealth will expand its Hong Kong-based banking team and set up a Greater China desk in Singapore.
UBS has bolstered its wealth management division in Mexico, with the appointments of Jaime Lopez Hidalgo Preciado, Gabriel Gomez Zaragoza and Enrique Ignacio Morales Abiega.
The management of personal wealth has come a long way since 1852, when Charles Dickens used a bitter and drawn out family battle over an inheritance as the basis for the plot of his then-latest novel, Bleak House.
RBC Wealth Management has appointed two US-based directors, to cover the north-east and west coast regions of the country.
