Commodity prices are bouncing back, but will Asian asset owners now embrace an asset class they have long shunned? And is this the start of a new bull cycle, or a temporary rally?
Tag : merrill lynch
As KIC celebrates its 10th anniversary, the fund's CEO and president outlines an ambitious growth plan, including lifting the alternative asset allocation to 15%
The moves comes after the US fund house had gained a dominant share of Julius Baer's shelf space following the Swiss bank's acquisition of Merrill Lynch's wealth business.
BNP Paribas IP poaches BlackRock exec, Credit Agricole hires from BoA-ML, Julius Baer moves to new HK office, BNY Mellon launches new business in Japan, HK SFC appoints non-executive directors.
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.
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.