The minimum investment is €200,000, making it accessible to a large number of private banking customers.īNP Paribas has announced the exit from domestic wealth management in India in order to “focus on areas where its global footprint and diversified business strengths allow it to provide clients with more value-added services”. Through the partnership, Berenberg is now able to add top-tier private equity funds to its portfolio recommendations when they match the customer’s investment goals and strategy and clients will benefit from access to high return investments and have the opportunity to further diversify their portfolios with this asset class. Amol Prabhu, newly appointed Africa Market Head for the Private Bank will have regulatory accountability for the Africa businesses.īerenberg, Germany’s oldest private bank, has teamed up with Berlin-based fintech company Moonfare to offer private equity solutions to clients who will have digital access to top-tier private equity funds via Moonfare’s digital private assets investment platform. The bank will now be able to proactively reach out to and meet individuals in South Africa, offering the advisory and discretionary products and services provided by the private bank. Bank Private Client Partners was founded in 1998 by Andreas Bodenmann, who will continue to play an active role with clients, but the subsidiary will now be run by Beat Widmer.īarclays has been granted a licence to offer private banking clients a full range of services in South Africa, providing access to investment products, wealth management services and wider solutions of the Barclays Group. PCP’s CHF 1.9 billion of assets under management and team of 15 will transfer to Banque Bonhôte, while the subsidiary bank will maintain its PCP name. The bank is also evaluating setting up an onshore presence in China which could be done with local partnerships.īanque Bonhôte has bought Zurich-based private bank Private Client Partners (PCP) from M.M. Bank of Singapore continues to invest in Hong Kong. Hong Kong CEO Derrick Tan recently commented in an interview that the city will continue to serve as a portal to China, particularly for wealth management. The Greater China business, which includes clients from Hong Kong, the mainland and Taiwan, recorded a 10% increase in AUM year on year in the first quarter, and growth is expected to continue. ![]() Despite the bank’s global AUM declining to $104 billion in the year to March from $108 billion a year ago, due to the market downturn, assets of the family office segment rose 20%. Raffles will work with Bank of Montreal Private Bank Asia to identify clients who require advice and management of their family trusts, custodian and private banking accounts.īank of Singapore, the private banking arm of OCBC, is focusing resources on its fast-growing family office business, by expanding its investment products for this segment and targeting clients outside of Asia too, especially Middle East and Europe. Profitability in the private client division was hit by a mid-year decision to abandon annual charges within its nascent planning division and instead ‘concentrate on providing event based financial advice and thus charge clients for specific advice on a transactional basis’.īank of Montreal Private Bank Asia has announced a partnership with multi-family office Raffles Financial Group in Asia, to provide clients in the region with a comprehensive and customized suite of corporate finance, investment, and private banking solutions. At group level though, the company reported pre-tax profit of £7m in 2019 (up from £6.8m in 2018), as assets climbed 12% from £985m to £1.1bn. Private banking profits nearly halved last year at Arbuthnot Latham from £4.6m (2018) to £2.9m (2019), due to a major revision of its planning charging structure and lower lending as clients had a reduced appetite for credit due to Brexit uncertainty. The new business is going to be headed by ex-Peel Hunt broker Mark Thompson and JP Morgan investment specialist Eddie Nissen, and will give investors an opportunity to meet, analyse, trade and participate in the growth of some of the leading investment trusts, including REITs, in the market. ![]() Multi-family office Alvarium has announced the launch of a trust brokerage business, dubbed Alvarium Securities, that will provide corporate advice, distribution and research services to corporate clients.
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