Wire
Scorpio Partnership Expands
Pioneering global wealth management insight and business consultancy firm Scorpio Partnership is pleased to announce the appointment of three experienced senior executives to the team.
New Government Means New Regulation, Say Wealth Managers
Wealth managers this morning predicted that the new Tory-Lib Dem Government will mean great increases in regulation for their industry, possibly including the splitting of big banks.
Reuters: Julius Baer AuM up 14%
ZURICH, May 11 (Reuters) - Private bank Julius Baer (BAER.VX) said on Tuesday strong money inflows in its growth markets compensated for tax pressure on Swiss banks that prompted many European off-shore clients to repatriate funds.
WBrief: Schroders PB revenue falls
Schroders has posted first quarter net revenue from private banking of £24.3 million, falling from £26.4 million from the same period a year before, largely as a result of lower interest income.
WBrief: RBS wealth arm's profits fall
The wealth division of UK-listed Royal Bank of Scotland – which includes businesses such as Coutts & Co, the private bank – said today that it logged an operating profit, before impairment losses, of £66 million ($96.9 million) in the three months to end-March, compared with £100 million a year ago.
WBull: Hermes sales up 19% 1Q10
French high-end fashion house Hermes International Thursday said first-quarter sales jumped 19%, the latest luxury purveyor to unveil a strong rebound after last year's sales were smacked by the economic crisis.
FT: EU agrees £625bn bailout
Global financial authorities launched an audacious package of measures in the early hours of Monday morning – including €720bn of government-backed loan guarantees and a commitment to buy European sovereign bonds – to combat rising financial market tensions triggered by worldwide fears over public finances.
Tel: Harrods sold for £1.5bn to Qatari royals
Mohamed al Fayed sold Harrods, Britain's most famous shop, to the Qatari royal family for £1.5 billion yesterday.
NASDAQ: Chinese brokerage to set up WM arm
Chinese mid-size brokerage Orient Securities Co. said Wednesday the country's securities regulator has approved its plan to set up a private wealth management unit.
WBrief: BNP Paribas income sharply up
Pre-tax income at the wealth and asset management arm of BNP Paribas – including much of its private banking business – rose sharply in the first quarter of 2010 to €254 million (around $324 million) from €118 million a year before, while the overall French financial services group said pre-tax income surged by 67.7 per cent to €3.84 billion.
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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
