Managers of Wealth Offshore

ABN AMRO Q2 slips, warns of higher loan impairments in 2013

Dutch state-owned bank ABN AMRO reported second-quarter net profit of 402 million euros ($536.5 million)

Bellpenny acquires IFA firm

IFA acquirer and wealth manager Bellpenny has completed its acquisition of Glasgow based IFA firm KM Financial Advisers.

UBS Global Asset Management reorganizes hedge fund units

UBS Global Asset Management has announced that its leading Alternative and Quantitative Investments hedge fund platform will be reorganised into two separate business areas with immediate effect

Swiss private bank to wind up Oman operation

Although the reason for downing shutters is not known, informed sources indicate that it could be due to a global restructuring plan

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Raymond James Assets Under Administration Increase in July

Raymond James Financial Inc.'s assets under administration grew 12% in July to reach a new record of $418 billion

ANZ to invest into promotion of Wealth division

“ANZ Wealth is the overall division name we use globally, while OnePath is an external customer brand that is utilised to distribute offerings through financial advisers,” the bank’s spokesperson said.

Old Mutual’s new wealth unit to offer ‘integrated, holistic’ service

Old Mutual South Africa’s wealth management business, which combines seven of its business units into one division, started operating in August.

All shares in ABN Amro likely to be sold off

BN Amro bank is likely to be sold off in its entirety when the government privatises it, rather than divested in tranches

Boutique wealth manager launches first retail fund

A boutique wealth manager offering a bespoke private client service is to launch its first retail fund as it seeks to diversify its business.

Brown Advisory to support U.S. Expats

Currently around 126,000 U.S. nationals reside in the U.K.

AMG delves deeper into the RIA business with second deal

AMG Wealth Partners, LP, a subsidiary of Affiliated Managers Group, Inc. has acquired an equity interest in Clarfeld Financial Advisors, LLC.

Helm Godfrey profits hit by RDR costs

Helm Godfrey blamed the cost of the retail distribution review (RDR) and the acquisition of the employee benefits arm of Truestone Asset Management in 2011 for the dip in profits.

CertusBank Invests in Wealth Management division

Terms of the transaction were not disclosed and the completion of the transaction is subject to customary closing conditions.

Royal Bank of Canada Wealth Management to Close Uruguay Office

Some employees may move to other locations, and the office will provide services until Oct. 31, she said.

SNB says UBS can repurchase StabFund within three months

The asset valuation and completion of the purchase option transaction are expected to take approximately three months.

James Brearley hangs in the black after 36% profit fall

The wealth manager has increased its assets under management to more than £900 million across all divisions.

Merrill Lynch to dissolve into BofA

The firm will assume all of Merrill Lynch's obligations and debt.

AMP chief steps down as wealth management company's first-half profit increases

In wealth management, AMP’s largest business unit, operating earnings for 1H 13 were up 20 per cent

No rest for Collardi as Julius Baer grapples with Merrill

In July, five months after the integration began, Collardi raised the estimated integration costs to 455 million francs from 400 million, and retaining Merrill Lynch bankers is also costing money and slowing efforts to hire advisors in other areas.

Wealth and Asset Management