Daily News Analysis
24 May 2013
KeyBank, the US-based financial services firm, has appointed Scott L Harris as vice president, relationship manager for the firm’s New York district. Harris joins KeyBank from Sagemark Consulting/Lincoln Financial, where he served as a wealth planning advisor . He is FINRA series six and 63 securities registered and holds life, accident and health licenses in multiple states.
24 May 2013
JP Morgan Chase has appointed Barry Sommers as chief executive of its consumer bank, which includes Chase Wealth Management. Sommers was latterly head of Chase Wealth Management, which includes the Chase Private Client segment, in a role he held since 2010 . He takes over as head of consumer bank from Ryan McInerney, who is leaving the firm after eight years to become president of VISA.
23 May 2013
PNC Wealth Management, the wealth arm of Pittsburgh-based PNC Financial Services Group, is expanding its wealth management team in Alabama, according to a report by the Birmingham Business Journal. The team will be headed by PNC Wealth Management director Felix Tankersly . The team includes: Harvey Hutchinson, vice president and senior wealth planner; Dean Johnson, vice president and senior trust advisor; Bob Ireland, vice president and senior relationship manager; Maggie Tanner, vice president and senior banking advisor; Guillermo Araoz, senior vice pre.
23 May 2013
Lyxor Asset Management, a wholly-owned subsidiary of Societe Generale, has appointed Frank Frecentese to its New York office as the deputy head of hedge fund research, in a move furthering the firm's expansion plans. Frecentese joins from Citi Private Bank, where he was managing director and global head of hedge fund investments . Prior to joining Citigroup, he was an executive director at Morgan Stanley, where he was the head of alternatives research for Graystone Research, part of the Morgan Stanley group.
22 May 2013
Jane Fraser, who has been chief executive of Citigroup’s private bank for the past four years, is to be replaced by Mark Mason as Fraser takes up the post as new head of the US bank’s mortgage business. The current CitiMortgage CEO, Sanjiv Das, plans to leave the bank to “pursue other opportunities,” according to the wording of an internal memo . The move was announced by Citigroup CEO Michael Corbat.
7 May 2012
As liquidity and wealth creation has slowed down, Gresham Partners wanted to tackle the issue of sustainable growth for the next five to ten years.
18 April 2012
How will the financial services industry divvy up the $28.6 trillion Americans currently have in investable assets? If you are a heavy hitter in the wealth management business, you were probably at the latest Tiburon CEO Summit at the Ritz-Carlton at Battery Park in New York City to find out.
4 January 2012
A round-up of the key moves in the North American wealth management industry for December 2011.
7 November 2011
Here, the significant moves in the North American wealth management market for October are summarized.
9 May 2011
A round-up of the North American industry moves for April 2011.
News and Features
Comment and Analysis
Zürcher Kantonalbank, the biggest Swiss cantonal bank, expects to pay a fine to US authorities as part of a deferred prosecution agreement for its alleged role in helping US citizens evade taxes, media reports said.
24 May 2013
Here Diane Harrison, principal and owner of Panegyric Marketing, argues that the debate over fees in the hedge fund industry often focuses on the wrong topics.
20 March 2013
Here, Jimmy Chang, a senior portfolio manager and a managing director of Rockefeller & Co, discusses some issues around investing in the current environment.
4 April 2013
The period between 2008 and 2012 saw an uptick in risk reviewing business at New York’s Rothstein Kass Family Offices Group, says partner Evan Jehle.
9 April 2013
Building functionality into a family’s business affairs involves defining each person’s role but it’s never easy to think differently about family members who were children at the dinner table, but are now adults around the board table.
8 April 2013
Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.
25 March 2013