- November 26, 2008 - New Wealth Management Strategy Head at RBC, More Moves in Asset Management
Royal Bank of Canada Wealth Management has promoted Brenda Vince to be head of wealth management strategy, moving into her new post on
1 February 2009.
George Lewis, group head of
RBC WM, said: "Brenda has been tremendously successful in building
RBC Asset Management into an industry leader in
Canada. With her exceptional strategic insight, client focus experience and commitment to operational excellence, Brenda will now be a great asset to all of our wealth management businesses as we continue to execute our strategy to extend our lead in
Cana.
- November 17, 2008 - Combine Investment With Packaging Skills to Win in Wealth Management
Exciting opportunities for wealth managers are starting to appear from the rubble of the credit crash. We believe that this new era will create opportunities for firms who combine investment with packaging skills. This trend for “solutions – not products” is especially favourable to the wealth management industry.
- October 27, 2008 - Plunge In Asset Values Creates Opportunities For Tax Planners
Pulling the banking sector back from the brink has put
UK public finances under immense strain, causing speculation that inheritance tax and non-domiciliaries might be high on the
UK government’s revenue-raising agenda.
However, it has also been suggested that the depressed state of the markets might actually provide significant benefits in terms of inheritance tax mitigation. WealthBriefing spoke to trust and tax lawyers, and wealth managers to find out more about this issue.
- October 17, 2008 - SG Private Banking Strengthens Middle East Offering
SG Private Banking, the wealth management arm of Société Générale, has appointed two new managers in a move to strengthen its teams in the Middle East. Dina ElYacoubi and Ashish Anand are both based in the firm’s regional hub in the Dubai International Finance Centre and report to Patrick Thiriet, global market manager for the Middle East.
Dina ElYacoubi has joined SG Private Banking as senior vice-president and head of the firm’s women’s desk for the Middle East.
- September 24, 2008 - RBC Shuns Acquisitions Aims to Hire Wealth Managers Instead
Royal Bank of Canada is planning to extend its US wealth management business by hiring experienced financial consultants, rather than buying entire firms, Reuters reports.
George Lewis, head of RBC's wealth management unit, told an investor conference that the bank is receiving calls from wealth managers at embattled US financial firms who are looking to move.
"Frankly we think we have an 'acquisition opportunity' in the turmoil that's gone on with Lehman Brothers, at Merrill at other firms there," Mr Lewis was quoted as saying.
- August 29, 2008 - Royal Bank of Canada Net Income Dips, Wealth Unit Makes Headway
Royal Bank of Canada said its net income in the third quarter ended 31 July fell by 10 per cent year-on-year to C$1. 262 million ($1. 99 million), while diluted earnings per share fell to C$0.
- August 21, 2008 - Jersey Finance Hires to Support Overseas Promotions
As part of its continuing efforts to drive international awareness, finance industry promotional organisation Jersey Finance has made two new appointments to develop its overseas strategic planning.
Head of special projects Christine Whitfield will, among other initiatives, be analysing target locations for their business potential. On the basis of her findings, she will consider the feasibility of opening promotional offices overseas.
- August 6, 2008 - AuM Flat at RBC Asset Management
Royal Bank of Canada Asset Management had net sales of $917 million last month, with money market fund net sales of $744 million and long term funds net sales of $173 million. Assets under management decreased by $0. 8 billion, or 0.
- August 5, 2008 - Executive Moves July 2008
Europe
Mauro Costa has joined Banca Arner
Italy as president. He joins from UBS where, since 2005, he served as vice president in
Monte Carlo. He was also chief executive of
Italy from 2001.
- July 8, 2008 - RBC Loses Head of London Trusts
Pauline Gale, head of trusts at the London operation of Royal Bank of Canada Wealth Management, has left, the bank has confirmed.
At the time of publication, WealthBriefing was not able to determine whether Ms Gale has joined another organisation.
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