- September 3, 2010 - Man Group Hires GLG CEO, Approves GLG Acquisition
Man Group, the alternative investment management firm, has appointed GLG co-chief executive Emmanuel Roman to the newly-created role of chief operating officer - an appointment which will take effect after the acquisition of GLG, which shareholders approved yesterday, is completed.
The acquisition will see Pierre Lagrange, senior managing director of GLG, continue in his role, which involves overseeing investment management and running GLG’s flagship European long short equity strategy. Noam Gottesman will remain co-CEO of GLG with Roman, running GLG’s global opportunity strate.
- 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 - 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.
- July 21, 2010 - Swiss-German Wealth Management Services Provider Launched
Swiss wealth manager Reuss Private, German consulting and systems integration company BN & Partners and Fondsnet, a Germany-headquartered fund and insurance platform, have teamed up to launch Reuss Private Group, an alliance of specialist providers offering products and services for professional asset managers, family offices and private investors.
The group works with more than 2,000 independent financial services providers acting as distribution partners, managing assets of over SFr4 billion ($3. 8 billion), the new group said in a statement.
- July 2, 2010 - London Hedge Fund Firm Appoints Asia CEO
London-listed hedge funds firm RAB Capital has appointed David Seex as the chief executive officer of RAB Capital (Asia).
Seex will be tasked with developing the firm’s Asia activities, widening its contact base in the region, and will oversee RAB’s Hong Kong office, the firm said in a statement.
Seex was formerly a managing director at Citigroup, where he was a founding member of Citigroup's alternative investments management team and acted from 2001 as head of Citigroup alternative investments in Asia.
- June 29, 2010 - MFK Bank Acquires Asset Manager In Moscow
MFK Bank, the Moscow-headquartered firm that focuses on serving high net worth individuals, has acquired a 100 per cent stake in the asset manager Stolichnaya Financial Corporation, Vedomosti reports.
According to the publication, the bank, which belongs to Russian billionaire Mikhail Prokhorov, moved to make the acquisition just a month after it entered a partnership with Fleming Family & Partners, the Moscow-based subsidiary of the London-headquartered multi-family office.
Rustam Iseev, general director of FF&P in Russia, reportedly said that the firm is aware of .
- June 22, 2010 - Organisation Insight - Withers, A Legal Powerhouse
The regulatory tide continues to rise and a law firm that is leading the charge in explaining all this is Withers, one of the most global private client specialists in the business. If there is a legal issue affecting the wealth management industry, the chances are that Withers can shed light on it.
Barely a week goes by without one of the Withers team explaining some new legislation to wealth managers often left bemused by the torrent of regulatory developments pouring out of parliaments and civil service departments.
- June 8, 2010 - Close AM's Dyer Warns Of IFA "Inertia" Ahead of RDR
“It’s later than you think”, so the saying goes, and this couldn’t be truer than in the case of IFAs who are looking to quit the industry before the Retail Distribution Review kicks in, according to Stuart Dyer, head of intermediary acquisitions atClose Asset Management.
Speaking to WealthBriefing in an exclusive interview, Dyer warned that there is a lot of “inertia” in the industry and that a significant proportion of IFAs could be leaving it too late to implement their exit strategy, if that is the route they are choosing to take.
Close Asset Management is itself aiming .
- May 24, 2010 - UBS Treaty Likely To Pass Swiss Parliament, Tax On Bonuses Rejected
A new twist emerged in the political tug-of-war over the controversial "UBS Treaty" in the Swiss parliament, as the chances rise that the lower house of the parliament, the National Council, will pass the treaty. The party most strongly opposing the treaty now appears to have agreed to vote in favour of the deal in order to prevent a tax on bonuses.
The National Council’s economic commission appears likely to recommend passing the treaty, which regulates the transfer of data on up to 4,450 US UBS clients suspected of concealing money from the US tax authorities.
- May 6, 2010 - Executive Moves - April 2010
United Kingdom
Saffery Champness promoted Jonathan Fox, previously executive partner, to managing partner and appointed Rob Elliott as finance partner after eight years in the managing role.
Fox was previously chief executive of both a law firm (Collyer Bristow) and barristers' chambers St Philips.
Nucleus, the UK-based platform business, appointed Danby Bloch as a non-executive director, a role in which he is charged with ensuring that the interests of the business’ growing IFA community continue to be represented at the highest level.
