The agreement, through votes in both chambers of Parliament, came after eleventh-hour negotiations between the upper and the lower house in which deputies dropped a demand for the treaty to be opened to a nationwide referendum. Continue Reading…
The agreement, through votes in both chambers of Parliament, came after eleventh-hour negotiations between the upper and the lower house in which deputies dropped a demand for the treaty to be opened to a nationwide referendum. Continue Reading…
Morgan Stanley plans to take on about 100 private bankers in Asia by the end of 2010. The drive will be lead by Nick Chan – its former Indonesian private bank boss – who has been promoted to the newly-created post of head of talent management for private wealth management in Asia. Continue Reading…
German Chancellor Angela Merkel discussed with bankers and industry leaders the possible creation of a fund by banks to ease access to financing for small and mid-sized companies, ministers said on Wednesday. Continue Reading…
Wealth managers around the world have learnt the hard way that they need to become more transparent but this will push up costs, prompting further consolidation in the crisis-hit sector. Continue Reading…
Julius Baer’s decision to split its business to allow it to focus its full attention on private banking is interesting in the broader context of the future of that most Swiss of businesses – the custody of the wealth of the world’s super rich. Continue Reading…
Emirates NBD, the region’s largest bank in terms of assets, has started offering personalised banking and investment services to its high net worth individuals to help them safeguard and diversify their wealth. Continue Reading…
UBS is expected to announce that it will write down at least $2 billion in illiquid assets and cut another 8,000 jobs in the next few days, Swiss newspaper Sonntag reported Sunday, according to Reuters. Continue Reading…
Societe Generale has laid off about 10% of its private banking staff in Asia, according to Dow Jones Newswires, which cited people familiar with the situation. Continue Reading…
Asia’s private-banking industry will experience a “big shakeout” as a global recession saps investors’ appetite for risk and drives down fees, according to UBS AG. Continue Reading…
President Barack Obama will seek support on Friday from executives of the nation’s largest banks for his plan to stabilise the financial system and try to get beyond the furor over bailouts and bonuses. Continue Reading…