Sentiment on Europe rises, with investors reporting the largest divergence between US and European equity valuations in the history of the BoA Merrill fund manager survey.
Tag : merrill lynch
The Hong Kong regulator reprimands and fines Merrill Lynch for regulatory breaches dating back to before the global financial crisis.
The firm questions whether acquisitions are counterproductive to the private banking industry. It comes after Julius Baer’s recent move, with a wave of consolidation forecast.
Group CEO Boris Collardi offers assurances that the Swiss private bank can successfully integrate the international wealth management business of brokerage Merrill Lynch.
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The new reality for wealth managers will be characterised by lower margins, increased costs and client caution. Firms must focus either on global reach or adopt a specialised approach.
The firm hires Song Kun from Merrill Lynch as senior client partner and adds Jimmy Lee and Lee Chin Lit from Clariden Leu, while reorganising its internal structure to retain talent.
The region now boasts 3.3 million high-net-worth individuals and has driven the global level of wealth above pre- crisis levels of 2007, finds the World Wealth Report 2011.
The regulator says Merrill failed to assess the objectives of investors. It also fines Core Pacific-Yamaichi International (HK) over the sale of Lehman-related structured products.
Sam Tabar, who has joined Bank of America Merrill Lynch from PMA to lead its capital-raising efforts for hedge-fund clients, is expecting a wider range of strategies among Asia fund launches.
Yu leaves retirement to become the firm’s Asia-Pacific chairman in a newly created role, and will represent American affiliate Columbia Asset Management.
The city’s high-net-worth population is still well behind its 2007 peak asset level despite having rebounded, according to the Asia-Pacific Wealth Report 2010, which underpins some key trends and offers allocation forecasts.
Michael Benz jumps ship from UBS to BoA Merrill to replace Antony Hung as head of wealth management for the region.