Wire
FT: Goldmans vs the Senate
Goldman Sachs’ woes mounted on Tuesday as a Senate subcommittee attacked the bank for profiting from the financial crisis at the expense of its clients and accused it of “intolerable” conflicts of interests.
WSJ: Swiss banks turning nose up at suspicious clients
ZURICH—Swiss banks such as UBS AG are getting tougher with European clients they suspect of dodging home-country taxes, a move that could mark the beginning of the end of this country's mysterious yet lucrative global franchise.
Citywire: Ex-Goldmans director angered by product-pushing
A former executive director from Goldman Sachs’ private wealth management division believes wealthy families are ill served by private banks. He has set up what he describes as a lower cost multi-family office model, which he hopes will prove durable.
WBrief: Hargreaves Lansdown CEO stepping down
Hargreaves Lansdown, the UK-based wealth advisory firm, has announced that its chief executive and co-founder, Peter Hargreaves, is to step down in the autumn of this year.
Reuters: Lloyds PB wants in top five
LONDON, April 26 (Reuters) - Lloyds Banking Group (LLOY.L) plans to become one of the five largest private banks in the UK within five years after beefing up its wealth management service to lure more super-rich clients, a senior executive said.
WSJ: Swiss committee votes against US-UBS plan
ZURICH—A Swiss parliamentary commission recommended that lawmakers vote against a government plan under which UBS AG could hand client data to U.S. authorities.
SEI: Clients feels WM independence is impossible
The study revealed that although 73 percent of private clients believe independence is of high or medium importance, only 32 percent feel it is achievable in a wealth advisory relationship
Rich List 2010: Mittal doubles to £22bn, total up 30% to £333.5bn
The 2010 Sunday Times Rich List, published tomorrow, April 25, shows that the collective wealth of Britain’s richest 1,000 people has increased by 30% in a year.
FT: Greece's true deficit revealed
Greece’s budget deficit last year reached 13.6 per cent of gross domestic product, Eurostat said on Thursday, prompting Moody’s to downgrade Greek debt as two-year bond yields exceeded 10 per cent.
ES: Bankers criticise IMF tax plans
London bankers today hit out at plans by the International Monetary Fund to impose two new taxes on their industry to pay for any future bailout.
Unbillable Hours
Our specialists solve your HNW problems (gratis!)
Q
I have been reading in the press recently that if you are not a UK citizen it is going to become more difficult to divorce in the UK. Is this true?
A
It is a fact that in recent years there has been an increase in ‘forum shopping’ divorces and London has been described as the divorce capital of the world.
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The Hedgehog
Spear's Spiky Undercover Agent Dishes the Gossip
