- September 2, 2010 - Executive Moves - August 2010
North America
JP Morgan Asset Management named Michael O'Brien to the newly created role of global head of institutional client group. He reports to chief executive Mary Callahan Erdoes. Prior to this position, O Brien was head of the institutional investment management division of BlackRock.
- September 2, 2010 - HSBC Targets Global South Asian Diaspora
HSBC Private Bank’s Global South Asian Diaspora team has appointed Mrinalini Ramakrishnan as a director and investment counsellor based in London, in a bid to target the increasing number of high net worth global South Asians, whose collective wealth is estimated to be in excess of $1 trillion.
HSBC’s GSAD team comprises more than 110 client-facing staff across nine geographical locations, with regional offices in India, North America, the UK, Switzerland, the Channel Islands, Dubai, Luxembourg, South Africa, Singapore and Hong Kong.
Ramakrishnan has had a range of we.
- September 1, 2010 - Signia Appoints New Managing Director From Barclays Wealth
Signia Wealth, the UK-based multi-family office which was established earlier this year, has appointed Mark Elliott from Barclays Wealth as managing director.
In his new role Elliott will look after ultra high net worth client relationships and support chief executive Nathalie Dauriac-Stoebe in the future development of the business.
Prior to joining Barclays Wealth, where he was head of the Financial Institutions Group and the Professional Practices business, Elliott held senior roles at Coutts.
- August 27, 2010 - Barclays Wealth Strengthens Guernsey Captive Team
Barclays Wealth has appointed two relationship managers to its captive insurance team in Guernsey in response to a growing client base.
Jo Walker and Claire Blondel will join manager Dave Bartram in a team that works with Guernsey-based captive insurance managers.
Walker previously worked for Barclays in the UK and Guernsey for 18 years, while Blondel has been with the company for 13 years.
- August 26, 2010 - Credit Suisse Is In The UK Regions And It's Here To Stay
Credit Suisse’s private bank in the UK already has built a regional presence in the country and there are plans to extend it further as part of a long-term strategy, one of the firm’s top executives told this publication.
The Zurich-listed bank, along with a number of its European and UK peers, such as Société Générale, Coutts and Barclays Wealth, has been developing a regional footprint in the UK, realising that there are strong business opportunities beyond London.
And this commitment will not waver even if economic conditions prove to be difficult on occasion, Richard Ki.
- August 25, 2010 - Barclays Wealth Appoints New Board Director In Isle Of Man
Barclays Wealth Private Clients International has appointed David Stanley to its board of directors in the Isle of Man, strengthening its global executive team.
Stanley joined Barclays Wealth in 2006 as global head of offshore financial markets, before which he spent five years as global transaction services country head at Citigroup. Prior to his time with Citi, Stanley worked in a number of banks and finance houses in both Jersey and London.
- August 24, 2010 - Citi Battles To Gain Edge In Hunt For NRI Business
Citi Private Bank has an almost unrivalled capacity to serve a fast-growing and important segment of the world’s wealth management industry – non-resident Indians – one of the US private bank’s senior executives argued recently.
In the alphabet soup of acronyms that infest financial news, one that comes up with increasing frequency is NRI, a term describing people of Indian origin or citizenship living outside the home country. It is testimony to increased globalisation and the wealth of the Indian sub-continent that this segment is now getting such prominence.
- August 23, 2010 - Credit Suisse's Private Bank Adds To UK Team With Four Hires
Credit Suisse’s private bank in the UK has made a number of fresh appointments, bringing in staff who previously worked at Barclays Wealth, AIG and The Access Bank UK, this publication has learned.
Ian Hale has joined the Swiss bank as a director in the investments team, and head of investment consulting. He joined Credit Suisse earlier this month and reports to Gary McGraw, having previously served as chief investment officer at The Access Bank UK.
- August 20, 2010 - Barclays Wealth Launches New FTSE-Linked Product
Barclays Wealth has launched its six-year Regular Income Bond, a product designed for income-seeking investors disappointed with today’s rock-bottom interest rates.
The FTSE 100-linked bond, for which the minimum investment is £5,100 (around $8,000), offers investors the option of either a fixed annual payment or monthly income; the annual option pays 5. 75 per cent for each year the plan is held, while the monthly option gives investors 0.
- August 19, 2010 - Managers Depart From Barclays Wealth In UK
The revolving door at Barclays Wealth continues to spin. A number of managers are leaving the UK business, this publication understands, adding to other departures. On the other hand, this publication exclusively reported yesterday on the hire of three senior figures to its private banking unit.
