- April 6, 2010 - Fund-Raising In Private Equity Industry Rose Slightly In Q1 - Preqin
Private equity funds soliciting new investors raised $50. 4 billion in the first three months of this year, marginally better than the $48 billion collected in the final quarter of 2009, but the economic climate is still proving a challenge for this asset class, figures show.
A more substantial pickup in fund-raising is, however, expected to take place in the second quarter of this year,
Preqin, the research organisation, said in a report.
- April 1, 2010 - RBC Wealth Management Continues Hires To UK Domestic Team
RBC Wealth Management has recruited Sarah Macdonald, who was latterly with Barclays Wealth, as part of its drive to ramp up its London-based UK onshore business.
Macdonald joins as a director and will be working with UK-domiciled and resident individuals with an entrepreneurial focus.
Macdonald has over 10 years of experience in the financial services industry and has particular expertise in advising high and ultra high net worth clients on asset management and wealth structuring, including portfolio construction, wealth preservation, succession issues and philanthropy.
- March 30, 2010 - Quilter Continues Expansion Drive With London Hire
Quilter, the UK-based firm which is part of Morgan Stanley Smith Barney, has recruited investment manager Mark Hendricks from HSBC Global Asset Management as part of its continued expansion drive in both London and the regions.
Hendricks, who is based in London in his new role, has over 15 years of experience in private client portfolio management and has held roles at Merrill Lynch Investment Managers, City of London Investment Management and Grindlay’s Private Banking in addition to his most recent one at HSBC.
Hendricks’ hire is the latest in a string of appoi.
- March 30, 2010 - JP Morgan Private Bank Makes Senior Appointment in Spain
JP Morgan Private Bank has appointed Pablo Lopez Medrano as a senior private banker in Spain. Based in Madrid and reporting to the head of the private bank in Spain, Juan Manuel, he will focus on advising and developing relationships with ultra-high net worth clients in the country.
"The appointment highlights our commitment to further expanding our footprint in Spain," Juan Manuel Soto, head of the private bank in Spain, said with regards to the future of the firm in the country.
- March 26, 2010 - UBS Brokerage Unit In US Is Shedding 200 Staff
UBS's brokerage unit in the US is laying off nearly 200 employees, including about 25 managing directors, the Wall Street Journal said, citing unnamed sources. WealthBriefing also understands that cuts are taking place.
The job cuts affect about 1.
- March 26, 2010 - Thomson Reuters Announces Europe Lipper Fund Awards 2010
Thomson Reuters has announced the winners of its Europe Lipper Fund Awards 2010, which saw Fidelity International pick up 13 awards, while Blackrock, UBS and LGT Capital Management each picked up eight, and DWS Investments picked up seven.
Some of the main awards were as follows:
BlackRock, best fund group overall, large; LGT Capital Management, best fund group overall, small; Morgan Stanley, best bond fund group, large; Janus, best bond fund group, small; Deutsche Bank, best equity fund group, large; Financière de l’Echiquier, best equity fund group, small; BlackRoc. .
- March 25, 2010 - Swiss Banks Go Prospecting In Asia, Latin America
Swiss banks such as Credit Suisse and Julius Baer have stressed how they are expanding into Asia, Latin America and other fast-growing regions, bolstering their standing as domestic markets come under pressure, the Wall Street Journal reported.
Julius Baer’s chief financial officer Dieter Enkelmann said yesterday that the private bank will continue to build Asia into its "second home market," adding that the firm remains committed to Switzerland, the publication said.
Julius Baer, which has recently been an active acquirer and has opened new offices in South Americ.
- March 23, 2010 - UBS Head Of Equities Steps Down
UBS’s head of equities has quit the Swiss bank, dealing a setback to the firm as it tries to rebuild its investment banking unit, the Financial Times reports, citing an internal memo.
Daniel Coleman, who has been with the bank since joining as a graduate trainee in 1986, steps down with immediate effect. However he will remain as a senior adviser for the “next few months” before taking up “a new challenge” in the industry, the memo reportedly said.
- March 23, 2010 - Rothschild Commits To Growing Private Banking Business
Rothschild has reiterated its commitment to double or triple the assets under management at its private banking business over the next five years.
The focus for the immediate future is to grow the bank’s AuM from recent hires, rather than further hiring, although this would not be ruled out in the case of “unexpected opportunities”, a spokesperson for the bank told WealthBriefing.
The firm, which is part of Rothschild Continuation Holdings, a subsidiary of Paris-Orléans and separate to the Edmund de Rothschild banking group, serves around 600 clients in the UK.
- March 17, 2010 - Raft Of Hires To Build Credit Suisse Fixed Income In Russia
Credit Suisse is expanding its fixed income platform in Russia with five sales and trading hires. The bank believes the appointments will be instrumental in building Credit Suisse’s full service foreign exchange, rates and local securities presence in Moscow and form part of the bank’s continued development of its business in this key market.
Valery Pushnya joins as a managing director and head of trading for Russia and the CIS.
