- September 29, 2009 - UK Private Bank Boosts Edinburgh Team
UK private bank Kleinwort Benson has bolstered its Edinburgh office with the appointment of private banker Chris Arbuthnott.
Mr Arbutnott joins Kleinwort Benson from Arbuthnot Latham, where he spent three years as a private banker managing the financial affairs of both private clients and their families, and of charities. Prior to this he spent seven years at Reuters, latterly as business development manager with responsibility for the firm’s FX trading business across Europe, the Middle East and Africa.
- September 29, 2009 - ANZ Appoints New Regional CEO
ANZ has appointed Philip Chronican as chief executive officer for Australia, conferring upon him regional responsibility for the bank’s wealth management, commercial and retail businesses as from November.
Until July of this year Mr Chronican was group executive at Westpac Institutional Bank, holding responsibility for the global corporate and institutional banking business. His 27-year career at Westpac also includes having been chief financial officer from 2001 to 2005, along with holding several senior roles within the firm’s retail banking group.
- September 29, 2009 - Credit Suisse Looks To Grow Market Share - Report
Credit Suisse chief executive Brady Dougan has told Swiss daily TagesAnzeiger: "As we have done very well in the crisis, we are profiting from the demands of clients for more safety and stability. We really believe that we have very good chances to build up our market share among wealthy and very wealthy private customers. "
Mr Dougan said Credit Suisse had been working for five years to make sure it conformed with foreign banking laws, building up its onshore banking business and making sure its offshore businesses are compliant, Reuters reports.
- September 25, 2009 - ING Sells Australian, NZ Wealth, Life Insurance Joint Venture
ING has reached an agreement to sell its life insurance and wealth management venture in Australia and New Zealand to
ANZ, its joint venture partner.
Under the terms of the agreement, ING will sell its 51 per cent equity stakes in ING Australia and ING New Zealand to ANZ, who now will become the sole owner of these businesses. ING will receive €1.
- September 15, 2009 - Kleinwort Benson Says Final Bank Bids Due This Week
Kleinwort Benson, the UK private bank up for sale by its German parent, will receive final bids this week but the bank declined to name any of the bidders.
When asked by WealthBriefing the identity of such bidders, or whether the number of suitors had been reduced to one, the bank declined to comment.
“Negotiations are at a critical stage.
- September 14, 2009 - Philanthropic Trends, As Seen By A Private Banker
Philanthropy is increasingly a topic that is raised by our clients and one that we are starting to raise proactively with them. For some cultures or religions, there is a clear imperative to give on an annual basis, for other people it may be a simple desire to give something back to the broader community.
This creates both opportunities as well as obstacles, due to the cross-border nature of their giving.
- September 9, 2009 - Swiss Private Bank Finds Something to Smile About
Swiss private bank CIC has decided to give Alpine state's financiers something to smile about with a two week comedy festival.
To celebrate its 100th anniversary, CIC are hosting its own comedy extravaganza.
Although - disappointingly for GoldFinger - no bankers are taking to the stage, sixteen well-known comedians from around Europe are being drafted in to make up for it.
- September 4, 2009 - Indian Firm Appoints High Profile CEO For Wealth Management Push
Bajaj Financial Solutions, a subsidiary of Bajaj Finserv, has appointed Arpit Agarwal as chief executive to spearhead its launch into advisory-led financial services in India, WealthBriefingAsia, the sister publication to WealthBriefing, has exclusively revealed.
Mr Agarwal is the former chief executive and managing director of Dawnay Day AV, a joint wealth management venture between UK-based Dawnay Day International and well-known Indian investor Alok Vajpeyi, which was launched in 2005 to target India’s high net worth individuals individuals and the mass affluent investor populati. .
- September 2, 2009 - Executive Moves - August 2009
UK
JP Morgan Asset Management has appointed Pierre-Yves Bareau as head of emerging market debt, the Wall Street Journal reports.
Mr Bareau joins the company from Fortis Investments, where he worked as chief investment officer for emerging market debt for more than ten years.
The Financial Services Authority, the UK regulator, has appointed Julian Adams as director of its retail firms division.
- September 1, 2009 - Kleinwort Benson's Name Remains As German Parent Rebrands Units
A rebranding move by Germany’s Commerzbank of all its investment banking activities will not affect its UK private bank, Kleinwort Benson, the firm has confirmed to WealthBriefing.
Kleinwort Benson, a wealth management firm tracing its origins to the 19th century, is being put up for sale by Frankfurt-listed Commerzbank. The German bank acquired the UK business when it purchased Dresdner Bank from Allianz, the German insurance and financial services group, last year.
