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In this edition: will non-doms leave the UK if their status is scrapped; weak yen lures foreign money to the ski resort of Niseko; Asian families turn to pre-nups to protect their wealth; Uruguay’s stability
...Fraser told investors last month that the wealth management business “isn’t where it needs to be”....
...A $111bn investment boutique owned by BNY Mellon is seeking seed capital from investors to enter the multi-manager hedge fund business dominated by the likes of US giants Citadel and Millennium....
...Odey Asset Management’s wealth business is to close and return assets to clients months after founder Crispin Odey was accused of sexual misconduct....
...The most venerable star in this week’s issue is Lombard Odier, the global wealth and asset management group founded in Geneva in 1796....
...Morgan Stanley is planning to cut hundreds of jobs at its wealth management business in the first major action under new chief executive Ted Pick, said a person familiar with the matter....
...*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com....
...“Wealth management should be boring,” says Kearney. “It is about grinding out returns, year after year.”...
...Access to large sums of money and sensitive data makes high-net-worth individuals ideal victims for cyber crime, warns Annabelle Bryde, head of UK private bank wealth management & crown dependencies at Barclays...
...Meanwhile, cutting the dividend and the provision makes some sense in terms of responsible financial management....
...At Goldman, Solomon is also seeking to achieve a similar strategic transformation to Morgan Stanley by expanding in asset and wealth management....
...It will be managed by Lunate, with BNY Mellon serving as its global custodian....
...John MerrillPresident, Tanglewood Total Wealth Management, Houston, Texas, US...
...“UBS continues to be seen and valued like a conventional European bank, despite being the largest global wealth manager and deriving around 60 per cent of its revenues from wealth and asset management,”...
...Finn, 45, was previously chief operating officer of wealth management under Andy Saperstein....
...De Ferrari had been serving as a senior adviser to Iqbal Khan, the head of UBS’s wealth management business, since last summer....
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...However, the more mass affluent, that is to say high end-focused wealth management businesses have seen “some growth”, he adds....
...According to Pridham, the gross sales figures “show that established groups like Schroders, Jupiter, BNY Mellon and JPMorgan are attracting significant new flows”....
...Some 44 per cent of asset managers said they expect an uptick in mutual fund-to-ETF conversions over the next year, according to a recent report from BNY Mellon....
...How do wealth management platforms offer these services?...
Digital tokens authenticated on blockchain ledgers offer the potential to make buying and selling assets much easier
...Last year, Norway’s $1.5tn sovereign wealth fund revealed that it had lost NKr980mn, roughly $92mn, on an error relating to how it calculated its mandated benchmark....
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