Don’t fritter away your cash on gratuitous advice fees September 9, 2010 MANY a City worker spends her hours turning over millions for institutional or super-rich private clients as a matter of course. But when it comes to managing one’s personal wealth, the right strategy can seem far less clear. The perceived security of an independent financial advisor (IFA) can seem appealing, but the fees of the [...]
Don’t fritter away your cash on gratuitous advice fees September 9, 2010 MANY a City worker spends her hours turning over millions for institutional or super-rich private clients as a matter of course. But when it comes to managing one’s personal wealth, the right strategy can seem far less clear. The perceived security of an independent financial advisor (IFA) can seem appealing, but the fees of the [...]
Basel rules overhauled to curb risk July 26, 2010 BANKS face a tough cap on leverage to stop them using off-balance sheet vehicles to hide their borrowings, under sweeping rules agreed by global regulators last night. Institutions will be asked to hold tier one capital equal to three per cent of their unweighted assets, the Basel Committee on Banking Supervision said. The ratio will [...]
Peers quit for non-dom status July 6, 2010 Four members of the House of Lords have quit in protest at new “non-dom” rules. The Conservative Lords quitting are Lord Laidlaw, based in Monaco, Lord McAlpine, a former party treasurer and Lord Bagri – former London Metal Exchange chair. Baroness Dunn, former deputy chair of HSBC bank, has also resigned her right to sit [...]
Calls for Voda chair’s head July 21, 2010 A powerful investor group has called for the head of veteran Vodafone chairman Sir John Bond. The Ontario Teachers’ Pension Plan (OTTP), which has a 0.42 per cent stake in the telecoms giant, has demanded a radical shake-up at board level and says it will vote against his re-election. Though the OTTP stopped short of [...]
HSBC fund eyeing up fresh demand for investment grade corporate bonds January 21, 2010 HSBC is launching a new investment grade corporate bond fund, seeking to tap demand from latecomers to a sector which saw dramatic returns last year. The HSBC GIF Global Core Credit Bond will be run by the bank’s specialist active management arm, Halbis, under chief investment officer for fixed income Xavier Baraton. Baraton yesterday said [...]
CITY MOVES | WHO’S SWITCHING JOBS July 12, 2010 HSBC Private Bank The bank has appointed three associate directors to its high net worth team. Simon Gamse has over 28 years of experience, including working for Merrill Lynch, Goldman Sachs and Barclays Wealth. Jonathan Reed joins from Seven Investment Management, while Paul Avant (pictured) returns to London to take up his new position, having [...]
Bankers warn of brain drain as rules loom August 15, 2010 BANKERS have renewed warnings of a talent exodus from the UK as the financial watchdog begins consulting the City on a tough set of bonus and pay rules drafted in Europe. The Financial Services Authority (FSA) is engaging with institutions and shareholders over plans to cap the upfront cash portion of large rewards at 20 [...]
Bankers warn of brain drain as rules loom August 15, 2010 BANKERS have renewed warnings of a talent exodus from the UK as the financial watchdog begins consulting the City on a tough set of bonus and pay rules drafted in Europe. The Financial Services Authority (FSA) is engaging with institutions and shareholders over plans to cap the upfront cash portion of large rewards at 20 [...]
CITY MOVES | WHO’S SWITCHING JOBS August 4, 2010 BNY Mellon Curtis Arledge, formerly chief investment officer for BlackRock’s fundamental fixed income portfolio, is to join BNY Mellon as vice chairman of the corporation and chief executive of BNY Mellon Asset Management. Arledge also previously worked as co-head of US fixed income at BlackRock, and has over two decades of asset management and investment [...]