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Morgan Stanley reports wealth management profit increase 08:00 GMT Morgan Stanley has reported third quarter pre-tax profits of $836 million for its wealth management division, a year on year increase from $668 million. The pre-tax margin was 22 percent.
Rathbones reports third quarter boosted by organic growth and Jupiter deal 16/10/2014 Rathbones has reported net operating income for the third quarter of £49 million, up 13.4 percent year on year.
Bank of America profit hit by DoJ settlement as wealth management reports record quarter 15/10/2014 Bank of America has reported a drop in profit to $168 million for the third quarter of 2014. This was due to a previously announced pretax charge of $5.3 billion for the settlement with the Department of Justice, certain federal agencies and six states. Profit for the same period in 2013 was $2.5 billion.
Citi pulls consumer banking out of 11 countries but reports private bank revenue increase 15/10/2014 Citigroup is withdrawing from retail banking in 11 markets, including Japan and several Latin economies, as it continues to search for measures to reduce costs.
JP Morgan increases global wealth management revenue 14/10/2014 JP Morgan has reported third quarter revenues from its global wealth management business of $1.4 billion, a year on year increase of five percent.
Hargreaves Lansdown increases assets under administration and management 14/10/2014 Hargreaves Lansdown has reported an increase in assets under administration and management.
Rupert Robinson's departure fails to dent revenue and profit growth at Signia Wealth 14/10/2014 Life appears to have been relatively quiet at Signia Wealth, the London-based wealth management firm launched by Natalie Dauriac-Stoebe and Gautam Batra, two former Coutts employees, following the departure of Rupert Robinson, its head of wealth management in November 2013 (see thewealthnet 05/11/2013). Nonetheless, the firm increased both revenues and profits during 2013 and, according to its most recent annual report and accounts, is still focused on growth.
Aberdeen Asset Management reports rise in AUM as net outflows moderate 29/09/2014 Aberdeen Asset Management has reported Ďmoderatedí net outflows and a 3 percent rise in AUM during the Scottish referendum period. Hargreaves Lansdown chief executive clears £10 million during 2014 financial year 24/09/2014 Ian Gorham, the chief executive of Bristol-based Hargreaves Lansdown, the UKís biggest direct investment specialist, received a total remuneration of £10,608,000 for the period from 1 July 2013 to 30 June 2014, according to the firmís latest annual report and accounts.
Close Brothers Asset Management CEO says full year results show strategy is working as he outlines plans for future growth 23/09/2014 Martin Andrew, chief executive of Close Brothers Asset Management, has always maintained the divisionís three year restructuring programme would result in it returning to profit and continuing to grow.
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