Daily News Analysis
22 May 2013
Joseph Randall Medcalf, who in March of this year pled guilty to three counts of mail fraud and one count of bankruptcy in connection with a scheme that caused his investors to lose a total of some $3. 3 million, has been sentenced to six and a half years in prison, according to US Attorney Benjamin Wagner . Medcalf, 56, has been ordered to pay restitution of over $3.
20 May 2013
Canada-based CIBC Global Asset Management has made two senior appointments, including a chief investment officer, to strengthen its portfolio management team. Suzann Pennington has been appointed managing director and CIO, while Stephen Carlin starts as a vice president and senior portfolio manager for Canadian equities . Pennington will oversee all of CGAM’s portfolio management and research efforts, but will remain as head of equities and continue to manage the Canadian all-cap mandate, the firm said.
17 May 2013
Inflows for long-term mutual funds stood at a “healthy” $37. 8 billion in April, but continued to moderate from levels seen earlier this year, according to Morningstar data . Inflows for US equity funds slowed to $895 million, their lowest intake this year.
17 May 2013
Webster Private Bank has hired Yves Cochez as senior vice president and chief investment strategist, based in Stamford, CT. The CIS role is newly-created, the firm confirmed, and comes at a time when other firms have also strengthened their investment strategy teams in response to the difficult markets of recent years . JP Morgan Private Bank announced earlier this week that it has created a chief investment strategist role to work closely with its chief investment officer, and in February United Capital Financial Advisers also added a chief investment strategist.
16 May 2013
The US has been identified as the best market for fund investors, whilst South Africa has been rated as the worst, according to a new study by investment researcher Morningstar. Morningstar's Global Fund Investor Experience report assesses the experiences of mutual fund investors in 24 countries across North America, Europe, Asia and Africa and is based on criteria including investor protection, transparency, fees, taxation and investment distribution . Each country was assigned a letter grade for each category, which was then used to produce an overall country grade.
13 May 2013
Here, top executives at Citi Private Bank explain how the bank’s “Voice of the Client” initiative has rapidly gained traction among both staff and clients.
11 April 2013
WE Family Offices is trying to change the landscape of high-end wealth management with its offering focused on “wealth as an enterprise.”
2 April 2013
Mexico is home to the world’s richest man in the form of telecoms magnate Carlos Slim, but its wealth management market has not received the attention of Brazil’s. That may be changing as the emerging economy garners attention from the industry.
27 March 2013
GenSpring Family Offices is in some ways a poster child for the multi-family office industry: it grew assets under management very quickly for many years but has recently had to tackle problems that come with this increasing scale.
25 March 2013
Relevancy, transparency and ease of use emerged as goals for wealth management firms to strive for in delivering client-centric communications at a recent event of industry leaders held in New York.
News and Features
Comment and Analysis
BNY Mellon Wealth Management is planning to double the size of its global sales force, as well as adding a raft of private bankers.
22 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