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The week in wealth management - most read on thewealthnet

11/06/2018 News Team

Monday

International editor John Evans took a look at whether Coutts offers the most tempting benefits to their clients in private banking, particularly those who are high up on the net worth scale.  

Indosuez Wealth Management has appointed Jacques Prost as chief executive, with effect from 18 June 2018. He joins from Crédit Agricole which he joined in 2000 as head of structured finance for corporate and investment banking in Italy.

Tuesday

Julius Baer expands its private banking team in Guernsey with the appointment of Robert Pickford as a relationship manager. Mr Pickford will be responsible for meeting the wealth management needs of a portfolio of Channel Island and UK based clients.

Self Trade Bank, a Spanish online wealth provider, has been acquired jointly by private equity firm Warburg Pincus and Javier Marín Romano, a Spanish private banking veteran. The bank has been sold by the Boursorama subsidiary of Societe Generale.  

Wednesday

Coutts & Co is to finance for property investment company Ace Liberty and Stone who has bought an office building in Leicester for £4.4 million. The entire property will be occupied by the Leicester Crown Prosecution Service at an annual rent of £290,000.

The Indian-owned Canara Bank has been fined £896,100 by the UK’s Financial Conduct Authority (FCA) for failings in its anti-money laundering systems. 

Thursday

Edinburgh-based Hamden & Co., the UK’s newest specialist private bank, to stabilise losses during 2017 according to its latest set of accounts, whilst income for the year came in at £3.91 million, a £2.27 million increase on the £1.64 million recorded for 2016.

Adam & Co has launched a new discretionary fund management service designed for independent financial advisers with wealthy or very wealthy clients. Anna Miller, investment director, told thewealthnet that the additional benefits that Adam & Co can bring to advisers through its private banking services are an additional attraction for advisers with the right kind of client.

Friday

In a diary of a private banker Freddie Pooter looked at Nathalie Dauriac, star of wealth management and the London courts who has also had a run in over cake like Marie Antoinette who replied, ‘Let them eat cake’ when it was pointed out to her the poor of France didn’t even have even bread to keep body and soul together.

Sandaire, a London-based private investment office originally established to manage the wealth of the Scott family, has appointed Vincent Thomson as a director. Mr Thomson is a partner at Easton Partners LLP, a London-based corporate finance boutique, he established in 2009 and has spent around 40 years specialising in corporate finance.

Editor at large Ian Orton looked at the latest results reinforcing credentials of Vancouver-based Canaccord Genuity as a leading UK non-bank wealth management firm.

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