Swiss Banking Giant UBS To Launch VC Fund Targeting Fintechs
While wealth management — UBS’s biggest business — is traditionally a high-touch operation, with clients valuing personal contact, the coronavirus pandemic has accelerated a shift toward digital services.
Chinese Real Estate Mogul Plans Acquisitions To Build Offshore Wealth Management Business
Mason Group Holdings, a Hong Kong financial firm backed by Chinese property tycoon Hui Wing Mau, is poised for an acquisition spree as it seeks to build an offshore wealth-management business of at least US$3 billion (S$4.08 billion) in assets from scratch.
Hong Kong’s IAMs And Family Offices Want Clearer Guidance On KYC Requirements
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China To Promote Wealth Management Investment In Commodities
China's securities regulator said it will encourage wealth management firms to invest in commodity futures in a bid to promote its domestic derivatives industry and raise the amount of commodities in the nation's assets under management.
$385B Fund Chief: There Are Too Many Fund Managers On Wall Street
Investors have been pouring their money into low-cost index funds at a clip, leaving some people wondering if the active management business is dead. Warren Buffett, the billionaire every investor looks to for advice, has repeatedly said anyone who gives their money to someone to manage is essentially throwing money away.
Asian Wealth Management And Asian Private Banking - A Different Kind Of Family Office In Asia
Alex Scott of Sandaire explains the approach and value proposition of his firm’s offering as part of its growth plan for the regional market. Five years ago, the founder of Sandaire Investment Office, which manages his own funds and those of 40 other families globally, set up his office in Singapore.
Investcorp Appoints Ex-morgan Stanley Banker As Saudi Arabia CEO
<p>Investcorp Bank BSC, the Bahrain-based private equity firm, appointed former Morgan Stanley banker Gabriel Aractingi as chief executive officer for its business in Saudi Arabia.</p>
<p>Aractingi, previously head of Morgan Stanley’s operations in the kingdom for three years, has been with Investcorp since last year as a managing director, according to an emailed statement from Investcorp on Tuesday. Aractingi was the US lender’s head of private wealth management in the Middle East and North Africa region and left the bank in August.</p>
KKR, Stone Point-Led PE Group To Buy Focus Financial Partners
A group of private equity investors is purchasing a majority stake in New York-based Focus Financial Partners. The group, led by Greenwich, Conn.-based Stone Point Capital and New York-based KKR, are buying interest in Focus from private equity investors Centerbridge Partners, Summit Partners and Polaris Partners, wealth management affiliates and employees.
Veteran Advisers Set Up Advisory To Advise Ultra-Wealthy Families On Investing
A trio of family office veterans have launched a new advisory service to help ultra-wealthy families and individuals achieve their long-term wealth management goals, including the setting-up of family offices. Former lawyers and bankers Adam Wethered (pictured) and William Drake founded their multi-family office Lord North Street in 2000 then sold it to the family-owned international investment office Sandaire in 2014. Wethered and Drake departed the merged firm to form Owl Private Office with broker Andrew Wimble in 2016.
Embattled Bellevue Hedge Fund Adviser Accused Of Fraud
Federal prosecutors have charged the former head of a Bellevue wealth management firm accused of running a Ponzi scheme with wire fraud and making false statements to the United States. Seattlepi.com reports charges against Summit Asset Strategies CEO Chris Young Yoo were unsealed Monday. Yoo’s attorney Michelle Peterson says her client will be pleading guilty as part of a plea deal. The charges are related to claims that he misled his firm’s clients while using new investments to […]