- August 24, 2010 - RBC Launches New Emerging Markets Bond Fund
RBC Global Asset Management, part of Royal Bank of Canada, has launched its RBC Emerging Markets Bond Fund, a vehicle which the firm says is only available to individual investors in Canada.
The fund is suitable for investors that seek a combination of income and capital growth potential while looking to diversify the fixed income segments of their portfolios through exposure to emerging market debt securities, RBC Global Asset Management said in a statement.
"Currently representing about 35 per cent of global output, emerging markets have been the engine of growth.
- August 19, 2010 - New Basel Rules Will Not Saddle US Banks With Heavy Capital Burden - Analysts
As policymakers look to overhaul bank capital requirements to prevent a repeat of the recent financial crisis, new calculations by Barclays Capital suggest that large US banks could meet tighter global rules without having to raise large capital sums, according to the Financial Times.
The analysis by BarCap’s debt capital markets group estimates that the 35 largest US banks will have to come up with half as much new capital as had been expected following last month’s rewrite of proposed requirements by the Basel Committee on Banking Supervision.
The significance of this stor.
- August 4, 2010 - Executive Moves - July 2010
UK
Mark Atherton left the Birmingham branch of Rathbone Brothers, the UK based private wealth and investment management firm.
John Lamb Partnership, the London-based IFA, named Campbell Edgar as head of private clients, a role in which he will oversee an eight-strong team of financial planners. He joins the firm from Andersen Charnley, where up until April of this year he served as consultant director within its City division.
- July 29, 2010 - RBC Wealth Management Creates New Division, Names Head
Royal Bank of Canada’s wealth management arm has created a new division, Private Client Wealth Management, British Isles, appointing Philip Harris as its head.
As part of his new role, Harris, who was latterly head of UK Domestic, is charged with growing the firm’s platform by recruiting teams covering Eastern Europe and the Middle East, and will report to Paul Patterson, head of RBC Wealth Management, British Isles.
The firm additionally said that it will be pressing ahead with the expansion drive around its UK Domestic business and that a number of new appointments are to.
- July 12, 2010 - Morgan Stanley Lauds European Stress Tests On Banks
Regulators’ “stress-tests” on 91 European banks are likely to be more rigorous and disclose more detail than investors currently expect, according to Morgan Stanley.
The tests, designed to see how much damage would be done to banks’ capital strength and liquidity in the event of market shocks, are being conducted to avoid a repeat of recent financial blowups. Banks will be tested to see how they fare in the event of a shock to interest rates, government bond markets, and other events.
- July 8, 2010 - Wealth Management Assets Rise, Concerns About Margins, Efficiency - Scorpio
Assets under management of the world’s wealth management industry rose by 17 per cent to $16. 5 trillion in 2010 from a year ago, but the industry has become far less efficient and margins are under pressure, according to a new survey of almost 230 institutions tracked by Scorpio Partnership.
Its Key Performance Indicator of profitability has dropped by a median of 35 per cent from its level in 2009.
- July 7, 2010 - RBC Dexia Names New Swiss MD
RBC Dexia, which is jointly owned by Royal Bank of Canada and Dexia, has appointed Marco Siero as the new managing director of its Switzerland office.
Based in Zurich, Siero is charged with driving the further growth of RBC Dexia’s operations in the Alpine state, along with managing the firm’s regulatory relationships in the country. He reports to Simon Shapland, head of sales and distribution for Continental Europe.
- July 2, 2010 - Executive Moves - June 2010
United Kingdom
UK-based Close Asset Management continued its expansionary moves with the appointment of a new business development manager for the northern region, who is to focus on Manchester, Leeds and Sheffield in particular. Edward Sale joins from IFA Network, Standard Financial.
Ariadne Capital, a London-based investment and advisory network, brought in six new investor members from some of the world’s most prominent businesses.
- June 29, 2010 - Focus On Being Primary Advisor, Says RBC Wealth Management Chief In US
Royal Bank of Canada US Wealth Management chief John Taft says brokerages must work to be considered the primary advisor by more of their customers if they expect to thrive and survive, according to Reuters.
RBC Wealth Management is focusing this year on increasing revenue from its existing brokers. Investing in technology is critical, Taft told the news service.
- June 16, 2010 - Clydesdale Bank International Continues To Build Out Guernsey Team
Clydesdale Bank International, a subsidiary of National Australia Bank that provides offshore banking services out of Guernsey, has bolstered its customer service team with the appointment of associates Tara Harvey and Leanne Richards.
Harvey most recently worked within HSBC’s banking back office, having previously been a relationship manager at HSBC Private Bank, and before that at Royal Bank of Canada.
Richards, meanwhile, brings with her four years of marketing experience, two of which were within financial services; she has also held customer services and .
