The week in wealth management - most read on thewealthnet
A look at what caught readers' attention on thewealthnet this week.
Monday
Deutsche Bank’s global wealth management, now a component of its private and commercial bank, reported a EUR 274 million reduction of net revenues for the year to 31 December 2018, on the EUR 2,021 million reported for the previous year.
Saranac Partners added investment banker Riccardo Pavoncelli to the board as a non-executive director (NED).
Tuesday
Weatherbys Private Bank made three Scottish hires as it prepares to move into its new Edinburgh office.
Julius Baer hopes to make cost savings of around CHF 100 million which will enable a two percent net reduction in the full-time headcount to occur during 2019.
Wednesday
Kleinwort Hambros made a series of senior appointments to increase its regional presence across the UK. Andrew Hillery, head of UK private banking explained that “regional expansion will be a key aspect of [the firm’s] client offer and future growth.”
Ian Orton reported on the Financial Conduct Authority fining Paul Stephany, a former fund manager at London-based Newton Investment Management Limited, £32,200 for his conduct in relation to an Initial Public Offering (IPO).
Thursday
John Evans looked into Coutts banker Donna Ball, 53, who turned out to be paid more than all but one of her male colleagues in her commercial banking team, and lost her £400,000 sexism claim against her employer.
Smith & Williamson signed up to Avaloq’s Software as a Service (SaaS) solution, building on Smith & Williamson relationship with the fintech firm after it signed up to the Avaloq Banking Suite six months ago.
Friday
Editor of thewealthnet, Alexandra Newlove, profiled Helen Watson, chief executive of Rothschild & Co Wealth Management, as an example of someone who was once a hidden talent as diversity of background and education is the next frontier for wealth managers looking to have a more representative workforce.
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THIS WEEK'S TOP STORIES
- EXCLUSIVE: Maurice Turnor Gardner makes partner promotion
- Boodle Hatfield hires private client senior associate from Forsters
- Withers hires partner from Harbottle & Lewis to head London media and reputation team
- Switzerland to open its doors to British citizens if UK crashes out of EU with no deal
- UK Government stats show trusts income has plunged by £500 million
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