-
AIG broker-dealer division Royal Alliance Associates has acquired Rehmann Financial.
-
Quilter, the boutique investment manager which became owned by a joint venture between Citigroup and Morgan Stanley, has tapped a regional sales manager for its growing Dublin team.
-
JP Morgan’s private bank is looking to reduce its focus on the United States.
-
A former information-technology staffer at HSBC’s Swiss private-banking arm stole data on 24,000 accounts.
-
Paul Peckosh, who has served in various trust and wealth management capacities for 35 years for Heartland Financial, will retire in April.
-
Lazard Frères Gestion, the French wealth manager, plans to open a wealth management office in Switzerland.
-
Towergate Financial has tapped Steve Petrie as a director in the private client business.
-
HSBC Private Bank has appointed Anna Blomqvist and Mark Winterburn as investment advisors.
-
Third Financial Software, a provider of wealth management technology solutions, has launched tercero wealth management platform.
-
U.S banks might dominate the list of top wealth managers in the world in terms of assets under management, but, for the most part, they haven’t been able to duplicate their size in Europe.
-
Bank of America Merrill Lynch Wealth Management has hired Arnaud Lambillon from UBS to cover resident non-domiciled U.K. clients and U.K. citizens based in Zurich.
-
Citi Private Bank has snagged Mark Connally and Michael Smith from Barclays Wealth to head regional offices.
-
PNC Wealth Management has appointed Gail Horvath the new managing director for Northeastern Pennsylvania.
-
Julius Baer has named David Lim as its private banking head for Southeast Asia.
-
WSFS Financial has named Janis Julian as senior v.p. for its trust and wealth management division.
-
Credit Suisse’s Swiss private banking head Rolf Boegli said that wealthy clients still hold a considerable portion of their assets in cash or cash products.
-
Bank Delen, one of Belgium’s biggest private banks, saw its assets under management rise by 21% to €13.2 billion in 2009.
-
David Carroll, a Wells Fargo senior executive v.p. overseeing wealth management, has a long-term goal of adding 10,000 additional advisers to its wealth management unit over time.
-
Neil Roderick, head of Macquarie Adviser Services, has taken on a new role as Macquarie Banking and Financial Services group’s coo.
-
Rothschild plans to at least double the size of its British private banking arm.
-
Deutsche Bank plans to double the assets it manages for wealthy Indians living overseas to $10 billion in three years.
-
Philip Fett has left Morgan Stanley Smith Barney to join J.P. Morgan.
-
RBC Wealth Management reported net income of $213 million for the quarter that ended Jan. 31, up $88 million from a year earlier.
-
U.S.-based private bank Atlas One has named a senior fixed income banker Brian Lazell to run its new London-based office.
-
UBS named Axel Hoerger head of wealth management in Germany, replacing Stephan Zimmermann.
-
Credit Suisse has named Werner Schlossmacher as director and head of investment solutions for Southeast Asia and Australasia for its private banking division.
-
RBS Coutts Bank, the private banking unit of Royal Bank of Scotland, has relocated Nick Cringle, its global co-chief investment officer, from London to Hong Kong.
-
Standard Chartered Private Bank’s assets under management grew by 12% globally in the 12 months to December.
-
Private bank Sarasin has seen a 6% rise in full-year profit.
-
Morgan Stanley’s Private Wealth Management division has hired an executive director to strengthen team in the Middle East.
-
A former executive of Appleton, Wis., investment firm Wealth Management LLC has agreed to pay $1.4 million to settle civil accusations of misleading clients and accepting undisclosed kickbacks.
-
BMO Financial Group said fiscal first-quarter profit jumped almost three times from the same period last year.
-
Geneva-based wealth and asset manager, Bedrock Group, is poised to launch a multi- strategy fund of hedge funds with commitments worth $50 million.
-
Pre-tax profits at HSBC Private Bank slid over a fifth last year to $1.1 billion.
-
Serge Robin, the former head of Merrill Lynch in Switzerland, has left to join Geneva partnership bank, Gonet & Cie.
-
Abu Dhabi Commercial Bank (ADCB) and Schroeder Bank have formed an alliance to offer private banking services in Switzerland.
-
Rhonda Breard, founder of Breard Associates and Wealth Management in Kirkland, Wash., hasn’t been seen since Feb. 10 when she abruptly shuttered her office.
-
Schroders has applied for a banking license in Singapore to expand its private banking business to Asia from Europe.
-
Bank of America is combining its online brokerage with Merrill Lynch’s web offerings.
-
UBS has increased the maximum bonus private bankers in Hong Kong and Singapore can earn this year.
-
Bank of America Merrill Lynch has named veteran portfolio strategist, Bill O’Neill, to cio of wealth management in Europe, Middle East and Africa.
-
Rothschild has hired a team of three from Morgan Stanley to bolster its U.K. private banking and trust business.
-
Citi Private Bank and conglomerate China Resources Group have launched two real estate funds.
-
The Royal Bank of Scotland’s wealth division, which includes private banking, stood at £453 million in 2009 before impairment losses, up from £354 million in 2008.
-
GenSpring Family Offices has promoted Christina Burroughs to president of the firm’s Phoenix family office.
-
Hamburg-based Berenberg Bank has recorded a net profit of €65.1 million in 2009, up 38% from the previous year.
-
HSBC Private Bank has appointed Desmond Liu, the current head of the firm’s Chinese operations, to the newly-created post of head of Greater China.
-
Wilmington Trust is looking to expand by adding more high-net-worth advisers in the Southeast and targeting customers of its commercial bank for new business.
-
Jacobus Wealth Management has named Dale Fritz as executive v.p. and cio.
-
RBC Wealth Management has tapped Thomas Brockley to join its Albany, N.Y., branch.
-
Rosemary Berkery, former general counsel at Merrill Lynch, will join UBS Wealth Management Americas as vice chairman.
-
Emirates NBD has opened its first private banking center in Abu Dhabi.
-
Bank of Singapore, the private banking arm of OCBC, plans to double client assets in three years.
-
A team of four private bankers from Merrill Lynch’s private client discretionary management team are poised to join Schroders Private Banking.
-
Barclays Wealth has hired Henry Fischel-Bock as head of London for the international private bank in Europe, Middle East and Africa.
-
Veriloquent Wealth Advisors is now offering distressed debt services for high-net-worth investors interested in investing in non-performing note pools.
-
Taiwan’s Chinatrust Financial Holding is planning to hire at least 100 wealth management specialists this year.
-
J.P. Morgan has launched a new office in Abu Dhabi to provide private banking to wealthy clients.
-
Swiss wealth manager Helvetia Wealth has announced the acquisition of a strategic stake in Dahl & Partner Vermögensverwaltung, the German family office.
-
Bank of America has named Kunal Kamlani managing director and head of Global Investment Solutions for its Global Wealth and Investment Management (GWIM) division.