As global financial landscapes evolve, the Middle East, particularly Saudi Arabia, is experiencing a significant shift in wealth management practices. This transformation is fueled by the great wealth transfer, where substantial assets are being passed from older generations to their heirs. This transition is not only about wealth redistribution but
Geneva, August 6, 2024 — In a strategic move to expand its global wealth management capabilities, Union Bancaire Privée, UBP SA (UBP) has announced agreements to acquire Societe Generale’s private banking operations in Switzerland (Societe Generale Private Banking Suisse) and their wealth management businesses in the UK and Channel Islands
HSBC Global Private Banking (HSBC GPB) anticipates a buoyant global economic cycle and a broadening of earnings growth, supported by central bank rate cuts in the second half of 2024. As such, HSBC GPB is adopting a risk-on investment strategy, focusing heavily on quality bonds and global equities with a
Standard Chartered Bank has initiated its first variable capital company (VCC) in Singapore, introducing the Standard Chartered Funds VCC (SC Fund). This new corporate entity will offer clients unique access to specialized investment strategies, facilitated through collaborations with top global fund managers acting as sub-investment managers. The launch of the
J.P. Morgan Private Bank recently unveiled its 2024 Mid-Year Outlook, titled “A Strong Economy in a Fragile World,” emphasizing key investment strategies in today’s complex global environment. Grace Peters, Global Head of Investment Strategy at J.P. Morgan Private Bank, remarked on the resilience of the global economy despite ongoing high
In recent developments, the Bank of England (BoE) has signaled that borrowing costs across Europe are expected to decrease sooner and more significantly compared to the United States. This shift is setting the stage for substantial market adjustments as investors respond to the widening gap in monetary policies between the
Investors reflecting on the outlook for equities in 2024 must first consider the events of the previous year. The equity market saw a steady rise throughout 2023, but 2024 is expected to present more challenges, including increased volatility and periods of uncertainty. However, five key reasons suggest that 2024 could
Introduction to a New Venture J.P. Morgan Private Bank announced the launch of the U.S. Family Office Practice, a tailored initiative aimed at serving the financial giant’s largest clients and their family enterprises. Combining over 150 seasoned professionals, the practice will offer guidance on estate planning, life insurance, strategic wealth
HSBC has recently unveiled its Global Private Banking (GPB) business in India, with the aim of catering to high-net-worth (HNW) and ultra-high-net-worth (UHNW) professionals, entrepreneurs, and their families. This move underscores HSBC’s commitment to becoming a leader in wealth management across Asia, offering top-tier wealth solutions, global private banking expertise,
By Christopher Simpson The British Virgin Islands Financial Services Commission (FSC) has recently recognised Asia-based Fusang Exchange Ltd as its first digital securities and asset exchange. The Exchange was recognised by way of an amendment to the British Virgin Islands Regulatory Code (Recognised Exchanges) Notice, 2015, and took effect on
