UBS mulls sweeteners to keep Credit Suisse wealth bankers – source
By Stefania Spezzati LONDON (Reuters) – UBS Group AG told Credit Suisse wealth bankers it’s weighing financial sweeteners for them to stay as it seeks …
wealth
UK drops plan to tax sovereign wealth funds
LONDON (Reuters) – British finance minister Jeremy Hunt has dropped a plan to tax sovereign wealth funds investing in Britain, according to a government document. …
Abu Dhabi shakes up wealth funds with top royals chairing
By Yousef Saba DUBAI (Reuters) – Abu Dhabi announced a reshuffle at the top of its two biggest sovereign wealth funds on Thursday, appointing senior …
JONATHAN WILLIAMS And NICK STARK: Why A Wealth Tax Is A Really Bad Idea
JONATHAN WILLIAMS And NICK STARK: Why A Wealth Tax Is A Really Bad Idea Jonathan Williams And Nick Stark on March 8, 2023 It’s that …
Credit Suisse obtains key approval to launch wealth business in China
By Selena Li HONG KONG (Reuters) – Credit Suisse has received regulatory green light from China after years of waiting to launch a full-fledged wealth …
BofA promotes Lindsay Hans to lead private wealth management
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp promoted Lindsay Hans to lead its Merrill Private Wealth Management, international …
Australia’s CBA simplifies financial reporting after sale of wealth management unit
(Reuters) – Commonwealth Bank of Australia said on Monday it will simplify its financial reporting in upcoming half-year fiscal results to reflect the sale of …
Norway to raise spending from wealth fund to aid Ukraine, PM says
OSLO (Reuters) – Norway will increase the spending from its sovereign wealth fund in the coming years to fund military and civilian aid to Ukraine, …
Russia eyes end to liquidity caps on wealth fund ‘anti-crisis’ spending
By Darya Korsunskaya and Alexander Marrow (Reuters) -Russia’s finance ministry on Thursday proposed scrapping liquidity restrictions for spending on “anti-crisis” investments from its National Wealth …
‘It’s A Wealth Transfer’: Locals Blast Colossal Idaho Wind Project That Would Mostly Export Power To California
‘It’s A Wealth Transfer’: Locals Blast Colossal Idaho Wind Project That Would Mostly Export Power To California Jack McEvoy on January 9, 2023 A proposed …
Maryland Man Sentenced to More Than Six Years in Federal Prison for His Role in a $28 Million Ponzi Scheme Involving “1st Million Dollars” Wealth Management Company
Greenbelt, Maryland – U.S. District Judge Theodore D. Chuang sentenced Arley Ray Johnson, age 63, of Bowie, Maryland, yesterday to 78 months in federal prison, …
Permitted share of China’s yuan in Russian wealth fund doubled to 60% -Finance Minister
MOSCOW (Reuters) – Russia’s finance ministry on Friday said the maximum possible share of Chinese yuan in its National Wealth Fund (NWF) had been doubled …
Australia’s sovereign wealth fund buys gold, commodities as shadow of 1970s looms
By Lewis Jackson SYDNEY (Reuters) – Australia’s A$200 billion ($134.28 billion) sovereign wealth fund is increasing exposure to gold, commodities, private equity and infrastructure as …
Philippine central bank to back wealth fund after raising transparency concerns
MANILA (Reuters) – The Philippine central bank on Thursday said it was backing the creation of a sovereign wealth fund being pushed by President Ferdinand …
Chinese bank wealth units seek to smooth performance amid redemptions
SHANGHAI (Reuters) – The asset management arms of some Chinese banks are turning to an accounting method that smoothes out the performance of wealth management …
Credit Suisse wealth boss De Ferrari targets growth markets, tech boost
By Oliver Hirt, Noele Illien and Michael Shields ZURICH (Reuters) – Francesco De Ferrari, the head of Credit Suisse’s wealth management business, is focused on …
UAE wealth fund ADIA reports strong 2021 returns, restructures internally
By Yousef Saba DUBAI (Reuters) – The Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, said it delivered strong returns …
New Franchisees Bring Wealth of Knowledge and Expertise to Taziki’s Mediterranean Café Locations in DFW
New operators take over ownership of cafés in Plano and Southlake with plans to remodel and expand in DFW Metroplex Dallas, TX (-) They say …
Abu Dhabi transfers Etihad Aviation Group to wealth fund ADQ
By Yousef Saba DUBAI (Reuters) -Abu Dhabi sovereign wealth fund ADQ said on Tuesday the government had transferred full ownership of Etihad Aviation Group to …
Saudi wealth fund braves market tumult in green bonds debut, others unlikely to rush
By Yousef Saba DUBAI (Reuters) – Saudi Arabia’s Public Investment Fund faced little scrutiny over its green credentials when it sold $3 billion in green …
Credit Suisse’s deputy head of Asia wealth business resigns
By Anshuman Daga SINGAPORE (Reuters) – The deputy head of Credit Suisse’s Asia-Pacific wealth management business Young Jin Yee has resigned, according to a company …
Saudi wealth fund’s Savvy Games Group to invest $37.8 billion
(Reuters) -Saudi Arabia’s Savvy Games Group, owned by sovereign wealth fund PIF, will invest 142 billion riyals ($37.8 billion) in initiatives aimed at making the …
Indonesian sovereign wealth fund draws $20 billion in co-investments
By Anshuman Daga and Yantoultra Ngui SINGAPORE (Reuters) – Indonesia’s sovereign wealth fund has garnered more than $20 billion of co-investments from funds including Singapore’s …
Saudi Arabia’s wealth fund hires banks for debut green bonds
By Yousef Saba DUBAI (Reuters) -Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has hired banks including Citi and JPMorgan to arrange a …
Russia to spend $6.8 billion from wealth fund on infrastructure projects in 2022
KAZAN (Reuters) -Russia plans to spend 400 billion roubles ($6.8 billion) of its National Wealth Fund money on investment projects this year, on top of …
Bank of America enlists thousands of employees for wealth lending group
By Lananh Nguyen NEW YORK (Reuters) – Bank of America Corp created a new group in its global wealth and investment management division to focus …
Trump ally wants details of wealth excluded from foreign agent trial
By Luc Cohen NEW YORK (Reuters) – Tom Barrack, a former private equity executive and fundraiser for Donald Trump, wants evidence of his wealth, spending …
Exclusive-Embattled Credit Suisse aims to launch China wealth business next year
By Anshuman Daga SINGAPORE (Reuters) – Credit Suisse, which has been buffeted by a string of scandals, management changes and global strategy rejigs, is still …
‘Widen The Racial Wealth Gap’: Economist Breaks Down Effects Of Biden’s Student Loan Scheme
‘Widen The Racial Wealth Gap’: Economist Breaks Down Effects Of Biden’s Student Loan Scheme Harold Hutchison on August 23, 2022 An economics professor from Johns …
Citigroup plans 500 hires for new wealth unit – Bloomberg News
(Reuters) – Citigroup Inc is planning to hire 500 employees over the next three years for a new wealth division, Bloomberg News reported on Tuesday, …
More sovereign wealth funds adopt a formal ESG policy – study
By Simon Jessop LONDON – Three quarters of the world’s sovereign wealth funds now have a formal policy on environmental, social and governance investing, yet …
Pictet Wealth Management returns to Chinese stocks after 18-month hiatus
By Xie Yu HONG KONG – The wealth management arm of Swiss bank Pictet Group is buying Chinese equities again more than 18 months after …
China agrees to invest $3 billion in Indonesia sovereign wealth fund
JAKARTA – China’s Silk Road Fund (SRF) has signed an agreement to invest up to 20 billion yuan ($2.99 billion) in Indonesia’s sovereign wealth fund, …
RedBird backing Raymond James exec for asset, wealth manager venture -sources
By David French NEW YORK – RedBird Capital Partners is partnering with an outgoing executive from Raymond James Financial Group to establish a new asset …
Nikola founder asks judge to block evidence of ‘wealth’, ‘lifestyle’ in fraud case
(Reuters) – Trevor Milton, the billionaire founder and former chief executive of Nikola Corp has asked a federal judge to block evidence related to his …
Round Table Wealth Advisors Mariella Foley and Michael Fischer Earn Five Star Wealth Manager Awards
Mariella Foley and Michael Fischer of Round Table Wealth Management win national industry awards Tweet this Five Star Professional conducts market-specific research to recognize wealth management …
S.African wealth manager Investec’s annual profit nearly doubles
JOHANNESBURG – South African lender and asset manager Investec’s full year profit soared by almost 91% thanks to strong loan growth, client acquisitions and increasing …
Citi promotes Asia-based banker Valderrabano as global wealth COO
By Selena Li HONG KONG – Citi has appointed Valentin Valderrabano as its new chief operating officer (COO) for Citi Global Wealth, effective in July, …
Activist Elliott increases stake in UK wealth manager Brewin Dolphin
LONDON -Elliott has pushed its stake above 5% in Brewin Dolphin, a British wealth manager which is under offer from Royal Bank of Canada, the …
Mediobanca says no wealth management deal in sight as profit beats consensus
MILAN -Mediobanca on Wednesday ruled out the prospect of a wealth management acquisition in the immediate future, after reporting higher than expected quarterly results thanks …
Wealth manager AMP’s Australia unit posts net cash outflows on uncertainties
(Reuters) – AMP Ltd said on Thursday its Australian wealth management business logged another quarter of cash outflows as it continued to lose investors amid …
Norway wealth fund unable to sell Russian stocks now, CEO says
OSLO – Norway’s sovereign wealth fund is currently unable to sell its portfolio of Russian stocks as the market for such assets is not functioning …
Sanctuary Wealth Continues to Expand NY Metro Footprint with Addition of Questar Capital
Veteran team with $850 million AUM joins from UBS INDIANAPOLIS, April 29, 2022 — Sanctuary Wealth, home to the next generation of elite advisors, continues …
China regulator publishes internal control rules for wealth management companies
SHANGHAI – China’s banking and insurance regulator on Friday published draft rules regulating internal control and management at wealth management companies. Such rules included that …
Russia may spend $1.3 billion from wealth fund to recapitalise Aeroflot – Ifax
(Reuters) – Russia is considering spending around 107 billion roubles ($1.34 billion) from its National Wealth Fund (NWF) to recapitalise flagship airline Aeroflot, the Interfax …
Indonesia’s wealth fund signs $2.7 billion toll road investment
By Stefanno Sulaiman and Gayatri Suroyo JAKARTA – Indonesia’s sovereign wealth fund on Thursday signed two agreements to invest in toll roads on the islands …
Citigroup appoints new Asia Pacific wealth boss
HONG KONG – Citigroup Inc said on Tuesday it appointed Angel Ng to lead its Asia Pacific global wealth management business. Ng, currently Citigroup’s Hong …
Deutsche Bank nominates former Norway wealth fund head to supervisory board
FRANKFURT – Deutsche Bank has nominated Yngve Slyngstad, the former head of Norway’s sovereign wealth fund, to its supervisory board, Germany’s largest lender said on …
LSE owner sells wealth technology platform for $1 billion – Sky News
– The London Stock Exchange Group entered into a $1 billion deal to sell a wealth technology platform to a consortium of investors, Sky News …
Steward Partners Global Advisory Welcomes Ramapo Wealth Advisors, a New Jersey-based $600 Million Team
WASHINGTON, March 8, 2022 — Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership associated with Raymond James Financial Services, Inc. (member FINRA/SIPC), welcomes its …