United Kingdom

Global Wealth Management


U.S. SEC mulls streamlining launch of exchange-traded funds

NEW YORK The U.S. Securities and Exchange Commission will consider a proposal this year that would sweep away regulatory barriers to launching certain types of exchange-traded funds, a senior official said.


Banks turn to tech to cut cost of new regulation

GENEVA Swiss private banks are hoping to gain a competitive edge by investing in the latest technology for risk management and compliance to keep down the cost of new regulations brought in since the financial crisis.

TD Ameritrade's Tomczyk sees dividend payouts, no acquisitions

NEW YORK TD Ameritrade Holding sees little opportunity to buy other companies with its ample cash but will likely return some of it to shareholders in the form of dividends in the next few months, Chief Executive Fred Tomczyk said.

TD Ameritrade CEO says its clients more bullish

NEW YORK In a view that contrasts with pessimism at full-service brokerage firms, TD Ameritrade Holding Corp's chief executive said small investors are returning to trading stocks and options.


Private banks step up efforts to court mega rich

GENEVA The mega rich have become the hottest property in private banking and wealth managers are pulling out all the stops to court them, offering perks ranging from lunches with sports stars to track days at the Monaco Grand Prix circuit.


Bankers want twin-pronged attack on richest pickings

GENEVA Private bankers are rallying behind the one-bank model of cross-selling investment banking services, insisting that it is essential to the pursuit of richer rewards from the wealthiest clients.


FINRA to warn investors on alternative securities

NEW YORK Wall Street's industry-funded watchdog will soon publish the latest in a series of warnings to investors, this time about the risks of alternative securities, its chief said on Tuesday.


Rich Europeans urged to free up cash holdings

ZURICH Europe's rich need to take more investment risk to prevent their wealth from being eroded, several private bankers said this week.

Morgan Stanley dealmaker Heaton on wealth team

NEW YORK Morgan Stanley said on Tuesday that David Heaton, a long-time banker and specialist in asset management deals, was moved to its wealth management business, in a new role aimed at generating more leads for the firm's multitude of financial advisers.


Swiss stability anchors banks in choppy tax waters

GENEVA The world's wealthy will continue to trust their fortunes to stable, neutral Switzerland even as a clampdown on tax evasion undermines the country's secrecy laws, Swiss bankers said.

Fleming opens Morgan Stanley's wallet

NEW YORK Greg Fleming has taken his foot off the brake and put it on the gas pedal as he pushes to generate more profit from Morgan Stanley's army of brokers.