A look back at the top stories to feature on thewealthnet this week...
10.
As we move into the New Year, jurisdictions will continue making efforts to be attractive to family offices.
This is because they have seen the importance of family offices, Lucia Perchard, head of family office product and corporate solutions at Apex Group, believes.
As a result, Ms Perchard says there will be more people like her, who will be employed to look at this area of the market. [Read more]
9.
LGT Private Banking hired three from Credit Suisse to set up a new non-profit desk.
Rocco Baldinger has been appointed head of the non-profit desk and senior relationship manager.
Additionally, Roman Tomic and Mile Lukic have both also joined the non-profit desk as relationship managers.
8.
Wealth manager Brooks Macdonald appointed Joe Capaldi as investment director within its alternative investment management (AIM) portfolio service.
He joins from CS Investment Managers, where he was an investment director and lead manager of its AIM inheritance tax (IHT) service.
Mr Capaldi said: “I am thrilled to have joined Brooks Macdonald. Brooks Macdonald is one of the most established AIM IHT managers in the industry because it puts client performance first, as demonstrated by its strong track record since inception. I look forward to working with the team to continue building on their success.”
7.
Nothing says 'Merry Christmas' like a £1,500 hamper.
'Recession? What recession?', Emelia Wilde listed the most ludicrously luxurious christmas hampers on the market.
6.
At the start of 2022 many people were expecting a frenzy of merger and acquisition (M&A) activity. The market was hot and valuations were very high. While rising interest rates in the second half of the year started to dampen this, there were still a number of significant deals in the wealth management sector.
Katie Royals gave a run down of some of the deals that got the sector talking…
5.
Investec Wealth & Investment (W&I) appointed Dr Pela Strataki, CFA, as head of research within its investment and research office.
Dr Strataki has buy-side experience in multi-asset portfolio settings covering fund of hedge funds and UK wealth management.
Her 15 year career spans a variety of roles, most recently with Architas where she was leading the AXA Group unit linked investment oversight function.
4.
It isn’t just old soldiers that fade away instead of dying. Private banking diarists or, to be more specific Freddie Pooter, thewealthnet’s long serving diarist, do so too, Ian Orton wrote.
Regular readers will recall that back on 1 July Freddie announced he was taking a well-earned summer break.
The long extended break must have been really efficacious because two months later Freddie informed us that he was closing his diary for good. [Read more]
3.
Swiss private bank and wealth manager Cité Gestion merged with multi-family office Sartus Capital.
According to Sartus Capital’s website, the merger was legally effective on 1 July following regulatory approval from FINMA – the Swiss financial market supervisory authority.
The merger brings the firms' assets under management to approximately CHF 7 billion.
2.
Lauren Harzo joined Barclays Private Bank as relationship director, Isabel Baxter reported.
She joins from Zedra - a provider of corporate services, active wealth and fund solutions - after nearly four years.
Most recently, she was client manager and prior to that was assistant trust manager.
1.
2022 could still turn out to be a record year for revenues earned by the UK wealth management sector according to the latest data released by Compeer, a London-based research and consultancy firm.
Although investment assets managed by the firms encapsulated within Compeer’s wealth management database continued to fall during the third quarter, as they had for both the preceding quarters, total revenues continued to increase, as they have done during every other quarter of 2022.
Furthermore, with revenues increasing faster than costs during the third quarter, margins increased. [Read more]
