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Viewing 246 - 250 out of 254 Blogs.
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The outcome of the financing battle of mega buy-outs, such as BCE in Canada (USD48.5 bn) or Clear Channel Communications in the US (USD19.5 bn) is still largely unknown. Beyond these headlines on credit crunch, the future of the sector is de facto conditioned by Basel II and Solvency II. According to the EVCA, banks have seen their role reduced by half, from 27.8 to 11.8% of invested funds over the last 10 years in Europe. Even wo... Read More
I’ve recently read a couple of reports that indicate that the effects of the sub-prime crisis on the wealth management industry have been relatively limited and have actually created an opportunity for those in the wealth management industry that remain unaffected. One of the reports is by Owen James and Scorpio Partnership, based on the results of the second of their Meeting of Minds events hel... Read More
Well, the second quarter reporting season has a bit further to run - we are due to get UBS and Deutsche over the next couple of weeks - but many European and US banks have put out their numbers. What are they saying? Well, in a nutshell, that wealth management businesses are still making money for their parents, which is obviously very welcome since the parent groups are still reporting write-downs... Read More
We’ve heard recently that some wealth managers and private banks are making plans for how to manage their businesses in the face of a sustained market downturn. For instance in the UK, Kleinwort Benson has not ruled out such a scenario.
"So far, this year will be very much the same as last year in terms of net profit. We had planned for a substantial rise for this year, when we began budgeting in May 2007, but the markets have not been benign," Robert Taylor, Kleinwort's chief execut... Read More
Swiss bank Julius Baer still sees strong opportunities in offshore private banking in the years to come, the bank's chief executive Alex Widmer said on Wednesday. "We still see huge opportunities," Widmer told a media and analyst conference following the release of the group's half-year results. The Bank is seen in a positive light as a pure play private bank that is less affected by the sub-prime crisis even though net money inflows was dwarfed by the negative effects of the... Read More
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