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...US asset managers Fidelity and Capital Group between them raised their stakes by more than SFr1.5bn and are now top-10 independent shareholders, according to data from S&P Capital IQ....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...However, these asset management operations are dominated by fixed income asset management and fixed income has been out of vogue over the past two years....
...Seven managers, including Amundi, UBS and Swisscanto, now have over half of their European assets in passive funds, compared with only four a decade ago....
...As part of the three-year strategy, Ermotti has targeted increasing invested wealth management assets from $3.8tn to more than $5tn by 2028....
...ICBC Credit Suisse Asset Management became the latest firm to announce on February 8 that it would reduce management and custodian fees for its ICBC Credit Suisse CSI 300 ETF with immediate effect, according...
...The bank reported $77bn of new assets and another $77bn of new deposits across wealth management and personal banking businesses last year....
...The bank has a new three-year strategy designed to boost its wealth division that includes an aim of increasing invested wealth management assets from $3.8tn to more than $5tn by 2028....
...“Ever since the diesel scandal, the flaws [in Volkswagen’s governance] have become clearly evident,” said Bert Flossbach, co-founder of Flossbach von Storch, which has €70bn of assets under management and...
...However, Markus Manns, a portfolio manager at Germany’s third largest asset manager Union Investment, was more upbeat....
...An incremental positive for the asset mgmt industry....
...An investigation by the FT found that the Austrian bank had posted 2,400 job advertisements in Russia since December, with some 1,500 for sales management and customer service roles....
...JPMorgan derives a smaller proportion of group income from wealth (and asset) management — under 15 per cent — yet has more US wealth assets under management than UBS, points out Cevian....
...In the four months following UBS’s March rescue of Credit Suisse, Julius Baer pulled in SFr9.2bn ($10.6bn) of new money, boosting its assets under management to SFr441bn, and poached scores of relationship...
...One person who worked closely with him at Adidas called him “a blast from the past”, arguing that his management style was “stuck in the 1980s”....
...A new group including Mubadala, Michael Dell’s family office, Goldman Sachs Asset Management and Lexington Partners will also invest cash into Endeavor....
...Norges Bank Investment Management certainly seems to think so....
...The long-running problems at Credit Suisse came to a head in March, when a collapse in the bank’s share price and exodus of client assets prompted Swiss authorities to call on UBS to rescue its neighbour...
...Ermotti said Credit Suisse had lost 500 relationship managers in the previous 12 months, but had suffered just $20bn of asset outflows as a result....
...Outgoing chief executive James Gorman has promised to triple its assets under management to $20tn....
...The watchdog catalogued the “repeated scandals and management errors” in the fallen bank’s final few years....
...The big beasts of wealth management — Morgan Stanley (the world leader, with $4.8tn of assets under management) and UBS (the number two, with $3.7tn) — are also aiming to grow....
...Roughly 80 per cent of PBB’s cover pool — the collection of assets backing its covered bonds — is made up of commercial real estate mortgages....
...The broker reckons the shares, on a forward price/earnings ratio of six, and trading at 16 per cent below net tangible assets, are undervalued. We tend to agree....
...GAM’s new board has appointed Elmar Zumbuehl as chief executive of the Swiss asset manager, after the previous board stepped down following the blocking by activist investors of a takeover bid by UK rival...
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