- September 3, 2010 - Morgan Stanley Hires For Latin American Business
As private banks look to increase their Latin American coverage, Bank Morgan Stanley, the Swiss subsidiary of the US bank, has hired Luca Majic as an investment advisor covering Argentina, WealthBriefing has learned.
“Luca's in-depth knowledge of the Argentine market will make him an important addition to our team as we continue to grow our Latin America business,” said an internal memo seen by this publication.
Majic joins from Banco Santander Geneva, and has experience in various private markets including Argentina, the US and Switzerland.
- September 3, 2010 - Banking Pay Reforms Taking Hold, More Focus On Long-Term - Report
Bankers are reducing their use of big unconditional payouts to hire and retain staff and instead are trying to set pay more in line with long-term performance to avoid undue risk-taking, according to a new report on the industry.
An international survey of wholesale banks found that most are now implementing compensation systems in line with the standards published by the Financial Stability Board in September 2009. Substantial changes are taking place in governance, risk adjustment and deferred pay-outs, the report said.
- September 3, 2010 - FF&P Hires Head of Client Affairs, Plans Agent Network Expansion In Russia
The Russian-based subsidiary of the multi-family office Fleming Family & Partners has appointed Svetlana Voyueva as vice president and head of its client relations and services department.
In her new role, Voyueva will be responsible for expanding the firm's agents network and ensuring its effective operation, a spokesperson told WealthBriefing. She also will assume responsibility for expanding FF&P's client base as well as further marketing its open-ended mutual funds.
- September 3, 2010 - F&C Restructures Senior Roles In Wake Of Thames River Acquisition
F&C Asset Management has made a number of changes in personnel as it completes its acquisition of Thames River Capital, which will now handle F&C’s multi-manager funds business.
The combined group will see Thames River focus on distribution to IFAs and wealth managers, whilst F&C will concentrate on institutional distribution.
Charlie Porter, founder and chief executive of Thames River, will join the F&C executive committee, responsible for the group’s retail and wholesale fund business.
- September 2, 2010 - UK Investment Trust Launches Asset Management Business
London-listed Majedie Investments is setting up a subsidiary, Javelin Capital, to manage its assets under a new investment management agreement.
Javelin’s senior management, all Majedie staff, will include Gerry Aherne as chief executive, Victor Pina as chief investment officer, Dr Steven Asprey as portfolio manager and Nick Rundle, who is currently investment director. The new entity will be governed by a management board which consists of both Majedie directors and Javelin partners.
- 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 - Rothschild Creates New Role As It Expands Emerging Markets Business
Rothschild Private Banking & Trust, part of the Rothschild banking group, has appointed Dominique Maire as head of emerging markets fixed income portfolio management – a newly-created role in a segment the firm intends to expand in.
Maire took up the role on 1 September, working with Siegbert Böttinger to manage fixed-income mandates for family offices and high net worth clients. He will also be responsible for managing the RBZ Dollar Bond Fund.
- September 2, 2010 - Equity Trust To Change Owners As Candover Investments Winds Up
Candover Investments, the LSE-listed investment trust, is not planning to invest in any further deals through its private equity subsidiary Candover Partners, but will distribute cash to shareholders as these positions are realised. The realisations of all these positions will see Equity Trust under new ownership.
“We consider that the best way to optimise value for shareholders is likely to be Candover remaining as a listed investment trust, with the sole purpose of returning cash to investors over time as portfolio realisations are made by Candover Partners,” the firm’s chief exe.
- September 2, 2010 - Credit Suisse Appoints Ex-UBS Man As Private Bank CEO For Hong Kong
Credit Suisse said today it has appointed former UBS senior manager James Hong as private banking chief executive for Hong Kong, effective from 1 September.
Hong reports to Marcel Kreis, head of Private Banking Asia Pacific, the Swiss bank said in a statement.
The post of private banking CEO in Hong Kong was a role created in May this year; Kreis acted as interim chief executive for the bank in Hong Kong prior to Hong's appointment.
- September 2, 2010 - Morgan Stanley Launches Third Tranche Of FTSE Products
Morgan Stanley has launched a third tranche of its FTSE Income and the FTSE Bonus Growth structured products. Both plans have a six-year investment term and are open for subscription until 11 October 2010.
The FTSE Income Plan 3 offers investors income of 6.
