Trump’s Truth Social Post Spurs Stock Surge, Boosts His Wealth By $500 Million
President-elect Donald Trump’s social media stock rebounded dramatically after a post on Truth Social, reportedly adding a half billion dollars to his net worth. Following a 42% drop since Wednesday’s peak, Trump…
‘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 Hopkins University said during a Tuesday CNN…
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, citing an interview with the segment’s global…
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 just 30% have set a target to…
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 it shunned the asset class, joining other…
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, the funds said on Monday, a deal…
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 and wealth management platform, sources familiar with…
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 “wealth, lifestyle or spending habits” at 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 professionals who consistently show a commitment to…
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 funds under management, it said on Thursday.…
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, according to an internal memo reviewed by…
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 activist investor said on Friday. Elliott’s stake…
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 to contributions from all its business segments.…
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 market uncertainty due to the Russia-Ukraine war,…
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 and many firms are on global sanctions…
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 to build its national presence in the…
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 wealth management companies should not use funds…
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 news agency reported on Wednesday, citing an…
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 of Sumatra and Java worth more than…
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 Kong chief executive, will oversee Citi’s wealth…
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 Friday. Slyngstad was chief executive officer of…
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 reported on Monday. LSEG will sell a…
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 newest partner firm, Ramapo Wealth Advisors, based…
Yellen says Treasury to curb wealth of Russian oligarchs over Ukraine war
By David Lawder CHICAGO – U.S. Treasury Secretary Janet Yellen said on Wednesday that the United States and Western allies have immobilized half of the assets of the Russian central bank and…
Factbox-Is Russia’s National Wealth Fund deep enough to counteract sanctions?
MOSCOW – Russia plans to tap its National Wealth Fund (NWF), a rainy day cushion, after it scrapped its borrowing plan this year amid Western sanctions and said it would spend up…
China to expand wealth management pilot scheme for retirement savers – regulator
SHANGHAI – China will from March 1 expand a pilot scheme developing wealth management products aimed at retail investors looking to boost their retirement savings to more cities including Beijing and Shanghai,…
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