Another look at HSBC's wealth management activities 08:02 GMT The activities of HSBC Global Private Banking (GPB), and in particular its Swiss operations, have dominated the headlines during February, especially in the general media. But GPB does not comprise the sum total of HSBC’s wealth management activities. Nor is it necessarily the most important, especially in terms of revenues, profits and client assets under management.
Rory Tapner leaves Coutts on a high note 26/02/2015 If an epitaph was needed for Rory Taper, whose departure as chief executive of Coutts was confirmed this morning by RBS, then perhaps this would be most apt: the private bank has just reported a handsome rise in pre-tax profits for 2014 of £250 million, up from £170 million in 2013.
Dollar strength and US recovery – a potential stumbling block? 25/02/2015 The US recovery now looks unassailable: The economy added another 257,000 jobs in January, and revised employment figures for November and December suggest it is growing faster than previously thought. The Federal Reserve has sufficient faith in the strength of the recovery that it appears to be on the cusp of raising interest rates. The one black cloud on this otherwise benign horizon is the US Dollar and its impact on US companies.
The polarisation in emerging markets 24/02/2015 Emerging markets used to be seen as homogenous, rising or falling with global risk appetite. Partly this was a function of the growth of China, whose insatiable demand for commodities lifted many emerging markets in unison. However, there is now an increasing divergence in the fortunes of different emerging markets. Emerging market performance is increasingly determined by whether a country is a commodity producer or importer, the extent of their dollar debt exposure and whether they display significant political risk.
Jonathan Fry to launch multi-family office 24/02/2015 More than 30 years since the launch of his eponymous financial planning and investment management firm, Jonathan Fry has departed jonathanfry plc to focus on a new multi-family office.
Smaller US banks set to rerate - Hermes 23/02/2015 Regional banks are looking like the most attractive value of the US small and mid-sized financials with a rerating on the horizon, according to Hermes Investment Management.