The Americas Banking News Network http://ambankers.net/ Fri, 21 Sep 2018 17:05:31 BST part of MediaG8way Group http://ambankers.net/ http://ambankers.net/assets/images/logo.png The Americas Banking News Network KohanaPHP Rothschild Merchant Banking Closes First US Private Equity Fund with Total Capital Commitments in Excess of $655 Million News Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38977/rothschild-merchant-banking-closes-first-us-private-equity-fund-with-total-capital-commitments-in-excess-of-655-million Five Arrows Capital Partners completes fundraising above target Wealth and Asset Management 1-Year-Old Cresset Surpasses $3 Billion AUM News Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38984/1-year-old-cresset-surpasses-3-billion-aum Cresset provides its clients with access to sophisticated investment strategies and planning, the next evolution of family office services, private direct investments, and open source credit solutions arranged by Cresset's Chief Credit Officer. Wealth and Asset Management Peter Bermont Named To Forbes List Of Top Wealth Advisors News Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38962/peter-bermont-named-to-forbes-list-of-top-wealth-advisors The Forbes ranking of America's Top Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative and quantitative data, rating thousands of wealth advisors with a minimum of seven years of experience. Wealth and Asset Management RBC Wealth Management Launches First National Ad Campaign News Aggregation Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38972/rbc-wealth-management-launches-first-national-ad-campaign Later this year, RBC plans to use its advisors in select markets to personalize the campaign by sharing their RBC Wealth Management story. Wealth and Asset Management Barron’s Places Destination Wealth Management’s Michael Yoshikami in its Nationwide Top 100 List News Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38970/barronamprsquos-places-destination-wealth-managementamprsquos-michael-yoshikami-in-its-nationwide-top-100-list For the 10th straight year, Michael Yoshikami has once again made the list of top advisors recognized by Barron’s. Wealth and Asset Management Captrust, prominent 401(k) advice firm, ramps up its wealth management business News Aggregation Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38931/captrust-prominent-401k-advice-firm-ramps-up-its-wealth-management-business Captrust's CEO wants to grow the firm's annual revenue from wealth management to 50%, up from 30%, within five years Wealth and Asset Management Do-it-yourself deals are all the rage among rich investors News Aggregation Team Sunday, September 16, 2018 1:00 am http://ambankers.net/article/38918/do-it-yourself-deals-are-all-the-rage-among-rich-investors Ultrawealthy look beyond hedge funds and private equity to making direct investments in businesses Wealth and Asset Management The Pricing War Among Asset Managers Heads To Zero News Aggregation Team Sunday, September 16, 2018 1:00 am http://ambankers.net/article/38923/the-pricing-war-among-asset-managers-heads-to-zero On the other hand, if brokers and asset managers work together and enter into self-indexing at low price points, the competition can effectively be dealt with. Wealth and Asset Management Morgan Stanley Passes $25B in Impact Assets News Aggregation Team Friday, September 14, 2018 1:00 am http://ambankers.net/article/38901/morgan-stanley-passes-25b-in-impact-assets In the six months, Morgan Stanley has launched two programs that have helped drive its platform’s success. Wealth and Asset Management 2019 Comp: UBS Leaves Plan Mostly Untouched, Retains Strings on Bonuses News Aggregation Team Thursday, September 13, 2018 1:00 am http://ambankers.net/article/38875/2019-comp-ubs-leaves-plan-mostly-untouched-retains-strings-on-bonuses The firm is the second big U.S. brokerage firm to try to control expectations about the annual pay program Wealth and Asset Management Baird Add Brokers from Morgan Stanley, Wells Fargo News Aggregation Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38976/baird-add-brokers-from-morgan-stanley-wells-fargo The advisors in Wisconsin and North Carolina were managing an aggregate of $235 million. People Moves Bank of America’s investment banking boss to depart News Aggregation Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38978/bank-of-americaamprsquos-investment-banking-boss-to-depart Christian Meissner steps down in wake of loss of market share in M&A People Moves Technology investment bank Qatalyst hires Zweig from JPMorgan News Aggregation Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38979/technology-investment-bank-qatalyst-hires-zweig-from-jpmorgan At JPMorgan, Zweig was focused on executing mergers and acquisitions in the technology sector. People Moves Goldman Names Dees Co-Head of Investment Banking News Aggregation Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38981/goldman-names-dees-co-head-of-investment-banking Goldman Sachs promoted Dan Dees to co-head of its investment-banking division alongside Gregg Lemkau and Marc Nachmann, the latest in a series of management changes for incoming CEO David Solomon. People Moves Prudential Appoints New CFO News Aggregation Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38983/prudential-appoints-new-cfo Ken Tanji takes over as executive vice president and CFO of Prudential Financial, replacing Robert Falzon. People Moves Tencent’s investment director departs for US hedge fund News Aggregation Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38959/tencentamprsquos-investment-director-departs-for-us-hedge-fund Jonathan Lai’s move comes as Chinese tech group grapples with gaming crackdown People Moves RBC Nabs $500M Commonwealth Financial Team News Aggregation Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38973/rbc-nabs-500m-commonwealth-financial-team This month, the firm recruited several advisors from the wirehouse who collectively oversaw around $640 million, and in July, RBC poached a team of Merrill Lynch advisors managing $465 million. People Moves AXA XL Names New Regional Broker & Client Management Leader in Canada News Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38971/axa-xl-names-new-regional-broker-ampamp-client-management-leader-in-canada Jonathan's impressive experience in the insurance industry is a great asset to our objectives People Moves J.P. Morgan Hires Away Lifetime UBS Manager in San Francisco News Aggregation Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38947/jp-morgan-hires-away-lifetime-ubs-manager-in-san-francisco McCashin replaces Robert Spawn, who left as J.P. Morgan’s West Coast regional director in April after a little more than two years with the firm People Moves Janus Henderson boosts US offshore sales team with ex-MFS hire News Aggregation Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38950/janus-henderson-boosts-us-offshore-sales-team-with-ex-mfs-hire He will report to Ignacio de la Maza, head of continental Europe wholesale and Latin America at Janus Henderson, and boost the firm’s nine-strong team focusing on Iberia, US offshore and Latin America. People Moves SEC Shuts Down $345 Million Fraud and Obtains Asset Freeze News Team Saturday, September 22, 2018 1:00 am http://ambankers.net/article/38986/sec-shuts-down-345-million-fraud-and-obtains-asset-freeze The SEC appreciates the assistance of the U.S. Attorney's Office for the District of Maryland and the Federal Bureau of Investigation. Legal, Regulation & Compliance Morgan Stanley sues $660M team for soliciting clients via phone, Facebook News Aggregation Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38975/morgan-stanley-sues-660m-team-for-soliciting-clients-via-phone-facebook The firm’s legal maneuvering mirrors similar court battles it initiated earlier this year against other ex-Morgan Stanley advisors who moved to rival firms. Legal, Regulation & Compliance SEC Indicts Husband and Wife of World Tree Financial for “Cherry-Picking” Scheme News Aggregation Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38980/sec-indicts-husband-and-wife-of-world-tree-financial-for-ampldquocherry-pickingamprdquo-scheme Favored clients allegedly got the winning trades and others got the losers so the firm could profit more. Legal, Regulation & Compliance Ex-UBS FA Sues to Vacate Finra Award News Aggregation Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38961/ex-ubs-fa-sues-to-vacate-finra-award But the broker is arguing that two of the arbitrators violated the industry’s self-regulator’s procedures, AdvisorHub writes, citing a petition to vacate the award filed in the southern district of New York by Miller’s lawyer. Legal, Regulation & Compliance Joint statement: Inaugural meeting of US-UK Financial Regulatory Working Group News Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38964/joint-statement-inaugural-meeting-of-us-uk-financial-regulatory-working-group This cooperation is especially important given transition in the UK’s regulatory relationships as it withdraws from the European Union. Legal, Regulation & Compliance CADE launches investigation into six Brazilian banks regarding cryptocurrency trading News Aggregation Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38966/cade-launches-investigation-into-six-brazilian-banks-regarding-cryptocurrency-trading Brazil’s anti-trust agency has launched an investigation into six of Brazil’s financial institutions as a result of potential illicit trading practices. Legal, Regulation & Compliance How Misplaced Trust in Advisors Contributed to Massive Fraud Against Pro Athletes News Aggregation Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38955/how-misplaced-trust-in-advisors-contributed-to-massive-fraud-against-pro-athletes Among the factors that increase the chance of an athlete being defrauded is misplaced trust in financial advisors, business managers and family, according to the report. Legal, Regulation & Compliance Investors hope central banks will extend a rescue line to ailing emerging markets News Aggregation Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38930/investors-hope-central-banks-will-extend-a-rescue-line-to-ailing-emerging-markets The pressure to hike will be particularly strong for Brazil and SA, both of which have seen their currencies plunge this year Legal, Regulation & Compliance Trade wars step up, more to come News Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38941/trade-wars-step-up-more-to-come China may bide its time, but we expect they will follow with tariffs on a further $60 billion of imports from the US. Legal, Regulation & Compliance $150B Money Laundering Probe of Danske Bank Implicates Citigroup and Deutsche Bank News Aggregation Team Monday, September 17, 2018 1:00 am http://ambankers.net/article/38924/150b-money-laundering-probe-of-danske-bank-implicates-citigroup-and-deutsche-bank Danish and Estonian authorities have been investigating the bank and have shared information with their U.S. counterparts, several European officials familiar with the matter told the news outlet. Legal, Regulation & Compliance Emotomy To Provide Wealth-Management Platform To Transatlantique Private Wealth News Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38932/emotomy-to-provide-wealth-management-platform-to-transatlantique-private-wealth Digital platform to serve worldwide private bank FinTech Avaloq upgrades open software architecture designed to make banks more agile News Team Monday, September 17, 2018 1:00 am http://ambankers.net/article/38927/avaloq-upgrades-open-software-architecture-designed-to-make-banks-more-agile The upgrade to Avaloq’s open software architecture allows financial institutions to consolidate IT operations onto a single platform. FinTech MAS, CFTC Sign Fintech Cooperation Arrangement News Aggregation Team Monday, September 17, 2018 1:00 am http://ambankers.net/article/38929/mas-cftc-sign-fintech-cooperation-arrangement Cooperation arrangement focuses on information sharing and facilitating referrals of fintech firms between Singapore and the US. FinTech Crypto Regulations Need a ‘Do No Harm’ Approach: CFTC Chairman News Aggregation Team Sunday, September 16, 2018 1:00 am http://ambankers.net/article/38922/crypto-regulations-need-a-amplsquodo-no-harmamprsquo-approach-cftc-chairman US CFTC Chairman J. Christopher Giancarlo suggested a “do no harm” approach to cryptocurrency regulations, comparing it with the rise of the Internet. FinTech SEC takes first enforcement action against cryptocurrency hedge fund News Aggregation Team Friday, September 14, 2018 1:00 am http://ambankers.net/article/38909/sec-takes-first-enforcement-action-against-cryptocurrency-hedge-fund CAM and Enneking agreed to the SEC’s cease-and-desist order and censure without admitting or denying the findings against them, and agreed to pay a penalty of USD200,000. FinTech Oranj Named 2018 WealthManagement.com Industry Awards Finalist News Team Thursday, September 13, 2018 1:00 am http://ambankers.net/article/38890/oranj-named-2018-wealthmanagementcom-industry-awards-finalist Winners are selected by a panel of independent judges made up of top names in the industry. FinTech TD Bank Group and The Hydrogen Technology announce North American agreement to bring automated, digital investing solutions to TD clients News Team Wednesday, September 12, 2018 1:00 am http://ambankers.net/article/38872/td-bank-group-and-the-hydrogen-technology-announce-north-american-agreement-to-bring-automated-digital-investing-solutions-to-td-clients The agreement makes TD the first Canadian bank to offer clients the ability to independently create financial plans and investment portfolios, all seamlessly integrated via an online brokerage account. FinTech Citigroup is making cryptocurrency investments less risky for Wall Street News Aggregation Team Tuesday, September 11, 2018 1:00 am http://ambankers.net/article/38838/citigroup-is-making-cryptocurrency-investments-less-risky-for-wall-street The banking titan now lets you invest in cryptocurrencies without owning them FinTech How Artificial Intelligence Will Transform Wealth Management News Aggregation Team Tuesday, September 11, 2018 1:00 am http://ambankers.net/article/38848/how-artificial-intelligence-will-transform-wealth-management AI has the potential for greater returns for both ourselves and our clients. FinTech Bank of China’s US branches goes live with Fenergo solutions News Team Tuesday, September 11, 2018 1:00 am http://ambankers.net/article/38856/bank-of-chinaamprsquos-us-branches-goes-live-with-fenergo-solutions Fenergo CLM provides BoC US Branches with an end-to-end client management solution FinTech Official Tapped by Biggest U.S. Public Pension Fund Worked for Predatory Chinese State Investment Fund News Aggregation Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38974/official-tapped-by-biggest-us-public-pension-fund-worked-for-predatory-chinese-state-investment-fund America’s largest public pension fund has tapped a manager of China’s predatory investment fund as its next chief investment officer. Alternative Investments Former CEO of AB and Generali launch disruptive asset manager News Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38985/former-ceo-of-ab-and-generali-launch-disruptive-asset-manager Aperture Investors is another important milestone in Generali's multi-boutique strategy launched last year Alternative Investments Bank of America to sell alternative operations with $20 billion to iCapital News Aggregation Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38969/bank-of-america-to-sell-alternative-operations-with-20-billion-to-icapital The operations for feeder funds pool client money to invest in hedge funds and private equity Alternative Investments Canada’s CDPQ acquires 40% stake in CLP India News Aggregation Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38946/canadaamprsquos-cdpq-acquires-40-stake-in-clp-india The move is in line with the pension fund’s aim to boost its low-carbon investments, and also gives it exposure to a key Asian market. Alternative Investments moneycorp expands US presence News Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38948/moneycorp-expands-us-presence The US investment is an integral part of moneycorp’s international expansion strategy Alternative Investments Expansion continues at AFL Insurance Brokers with acquisition News Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38958/expansion-continues-at-afl-insurance-brokers-with-acquisition Investment in professional, entertainment and event insurance Managing General Agent further diversifies AFL’s rapidly growing business Alternative Investments Zombie Hedge Fund Stakes Haunt Investors a Decade After Lehman News Aggregation Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38934/zombie-hedge-fund-stakes-haunt-investors-a-decade-after-lehman Side-pockets include a Vietnam casino and high-yield loans Alternative Investments Instinet announces liquidity streaming relationship with SSW Market Making News Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38937/instinet-announces-liquidity-streaming-relationship-with-ssw-market-making The arrangement means SSW interacts with Instinet as a known counterparty, with one of the benefits being that the liquidity provider can offer price improvements and larger sizes. Alternative Investments Insurers look to boost profits with riskier investments News Aggregation Team Monday, September 17, 2018 1:00 am http://ambankers.net/article/38926/insurers-look-to-boost-profits-with-riskier-investments Allocations to alternative assets and cash set to increase Alternative Investments EPIC Acquires Alternative Asset Management Industry Specialist News Team Friday, September 14, 2018 1:00 am http://ambankers.net/article/38897/epic-acquires-alternative-asset-management-industry-specialist Purchase expands EPIC's operations in key regions and further strengthens one of the nation's fastest growing insurance brokers and employee benefits consultants Alternative Investments Goldman Sachs passes Citigroup in investment bank rankings News Aggregation Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38963/goldman-sachs-passes-citigroup-in-investment-bank-rankings Rebound fuelled by revenue from fixed income and banking Investment Banking TD Only Canadian Bank Listed on the Dow Jones Sustainability World Index News Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38943/td-only-canadian-bank-listed-on-the-dow-jones-sustainability-world-index This accomplishment acknowledges the efforts of its over 85,000 employees globally that help make TD a leader in sustainability. Investment Banking JP Morgan says trading revenues for this quarter will be down 'about mid-single digits' News Aggregation Team Friday, September 14, 2018 1:00 am http://ambankers.net/article/38913/jp-morgan-says-trading-revenues-for-this-quarter-will-be-down-amp039about-mid-single-digitsamp039 The news from J.P. Morgan, the world's biggest Wall Street firm by revenue, is likely to be seen as a bearish signal for the performance of other investment banks in the third quarter. Investment Banking Citigroup late in the game to merge key investment bank units News Aggregation Team Tuesday, September 11, 2018 1:00 am http://ambankers.net/article/38837/citigroup-late-in-the-game-to-merge-key-investment-bank-units Wall Street’s other banks have long run their advisory and capital markets businesses as one unit Investment Banking Bank of America cryptocurrency storage patent News Aggregation Team Monday, August 27, 2018 1:00 am http://ambankers.net/article/38706/bank-of-america-cryptocurrency-storage-patent While the bank is yet to make any comment on it, the patent envisions a future where cryptocurrencies are a common means of payment - and people are trusting third-party services such as banks to keep their cryptocurrencies. Investment Banking Merrill Loses Advisors Collectively Managing $470M News Aggregation Team Wednesday, August 22, 2018 1:00 am http://ambankers.net/article/38654/merrill-loses-advisors-collectively-managing-470m Michael Kernicky and his two sons, Michael J. Kernicky and John Kernicky have joined Janney’s Media, Pa., office as the Kernicky Group, Janney says. Investment Banking BMO Capital Markets Announces New U.S. Power, Utilities and Infrastructure Investment and Corporate Banking Group News Team Tuesday, August 21, 2018 1:00 am http://ambankers.net/article/38641/bmo-capital-markets-announces-new-us-power-utilities-and-infrastructure-investment-and-corporate-banking-group Hires three managing directors in the U.S. Investment Banking Goldman Faces Losses on Venezuelan Bond Deal That Drew Criticism News Aggregation Team Monday, August 20, 2018 1:00 am http://ambankers.net/article/38619/goldman-faces-losses-on-venezuelan-bond-deal-that-drew-criticism Venezuela bond declines underscore the risk Goldman and its clients took on with an opportunistic investment in a country facing challenges Investment Banking Houlihan Lokey Launches Syndicated Leveraged Finance Platform News Team Tuesday, July 24, 2018 1:00 am http://ambankers.net/article/38387/houlihan-lokey-launches-syndicated-leveraged-finance-platform Houlihan Lokey, through this platform, will participate in both committed and best efforts transactions across a broad range of financings Investment Banking Euromoney names the world’s best banks in its 2018 Awards for Excellence News Aggregation Team Thursday, July 12, 2018 1:00 am http://ambankers.net/article/38273/euromoney-names-the-worldamprsquos-best-banks-in-its-2018-awards-for-excellence Bank of America and Citi win top prizes; Credit Suisse’s Tidjane Thiam is named Banker of the Year; Asian banks make their mark in global awards. Investment Banking New Fund Firm Cuts Pay If Managers Don’t Beat the Market News Aggregation Team Friday, September 21, 2018 1:00 am http://ambankers.net/article/38982/new-fund-firm-cuts-pay-if-managers-donamprsquot-beat-the-market Peter Kraus, former CEO of AllianceBernstein, pushes a new formula to beat index funds Comment, Analysis & Research World Retail Banking Report 2018: Banks must respond to soaring customer expectations as non-traditional competition looms News Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38967/world-retail-banking-report-2018-banks-must-respond-to-soaring-customer-expectations-as-non-traditional-competition-looms The report also surveyed banking executives about the main causes of industry disruption. Comment, Analysis & Research Few countries are pricing carbon high enough to meet climate targets News Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38945/few-countries-are-pricing-carbon-high-enough-to-meet-climate-targets New carbon pricing initiatives in some countries, such as China’s emissions trading scheme and renewed efforts in Canada and France to price carbon, could significantly reduce these gaps. Comment, Analysis & Research Wilshire Consulting Report Shows Retirement System Funding Levels Increased in Cities and Counties in Fiscal Year 2017 News Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38954/wilshire-consulting-report-shows-retirement-system-funding-levels-increased-in-cities-and-counties-in-fiscal-year-2017 The estimated aggregate value is the highest since Wilshire began reporting on City and County-sponsored retirement system funding levels Comment, Analysis & Research Increased Regulation Represents Top Challenge Facing Canadian Asset Managers News Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38957/increased-regulation-represents-top-challenge-facing-canadian-asset-managers While increased regulation remains the top challenge, an overwhelming number of the 82 respondents also believe that proper data management can benefit their firm and 94 per cent are confident they can adapt to the changing environment. Comment, Analysis & Research Options Strategies For The Ultra-High Net Worth Family Balance Sheet News Aggregation Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38956/options-strategies-for-the-ultra-high-net-worth-family-balance-sheet To bring portfolios back to their strategic targets after prolonged consolidation, cash must be deployed Comment, Analysis & Research T. Rowe Price Study Finds Strong Correlation Between Financial Performance of Companies and Quality of Their 401(k) Plans News Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38936/t-rowe-price-study-finds-strong-correlation-between-financial-performance-of-companies-and-quality-of-their-401k-plans The study controlled for factors such as the size of the company and its sector. Comment, Analysis & Research Study: Growing High-Net-Worth Opportunity For Life Insurers News Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38938/study-growing-high-net-worth-opportunity-for-life-insurers The study also includes Conning's estimates of the opportunities for insurers through an analysis of financial needs and resources for the U.S. consumer. Comment, Analysis & Research Embracing digital disruption News Aggregation Team Monday, September 17, 2018 1:00 am http://ambankers.net/article/38925/embracing-digital-disruption Consumer buying preferences and life insurance in a digital age Comment, Analysis & Research Has bumper growth led to bumper pay for fund managers? News Aggregation Team Sunday, September 16, 2018 1:00 am http://ambankers.net/article/38919/has-bumper-growth-led-to-bumper-pay-for-fund-managers Questions raised about CEO remuneration even as profit margins rise Comment, Analysis & Research How Puerto Rico Became the Newest Tax Haven for the Super Rich News Aggregation Team Thursday, September 20, 2018 1:00 am http://ambankers.net/article/38965/how-puerto-rico-became-the-newest-tax-haven-for-the-super-rich A year after the tragedy of Hurricane Maria, the 51st state has become the favorite playground for extremely wealthy Americans looking to keep their money from the taxman. Tax Andersen Global Continues South American Expansion News Team Wednesday, September 19, 2018 1:00 am http://ambankers.net/article/38949/andersen-global-continues-south-american-expansion BKM Berkemeyer also specializes in M&A’s, joint ventures, foreign investment, infrastructure, project finance and financial transactions, advising also on issues regarding telecommunications, water and energy projects. Tax IRS Moves to Ease Pain of New Tax That Targets Offshore Profits News Aggregation Team Friday, September 14, 2018 1:00 am http://ambankers.net/article/38908/irs-moves-to-ease-pain-of-new-tax-that-targets-offshore-profits Rules for foreign tax credits won’t come for another 60 days Tax Canada, Others, Taking New Steps to Thwart Global Tax Evasion News Aggregation Team Thursday, September 13, 2018 1:00 am http://ambankers.net/article/38888/canada-others-taking-new-steps-to-thwart-global-tax-evasion The AEOI is designed to shine a new light on “offshore” investments and bank accounts, as it requires countries to automatically and annually exchange financial account information of non-residents with the account holder’s country of re Tax Half of U.S. foreign profits booked in tax havens, especially Ireland: paper News Aggregation Team Tuesday, September 11, 2018 1:00 am http://ambankers.net/article/38854/half-of-us-foreign-profits-booked-in-tax-havens-especially-ireland-paper The research was made possible by the U.S. tax cut in December 2017 that contained a mandatory repatriation of profits, which allowed researchers to calculate the final tax bill for the companies. Tax The Three Tax Changes Most Confusing To Wealthy Clients News Aggregation Team Tuesday, September 11, 2018 1:00 am http://ambankers.net/article/38865/the-three-tax-changes-most-confusing-to-wealthy-clients We’re getting a lot of questions from all of our clients, regardless of net worth Tax Time Is Running Out For Taxpayers To Take Advantage Of The Offshore Voluntary Disclosure Program News Aggregation Team Wednesday, September 05, 2018 1:00 am http://ambankers.net/article/38779/time-is-running-out-for-taxpayers-to-take-advantage-of-the-offshore-voluntary-disclosure-program Additional filing requirements were written into the Foreign Account Tax Compliance Act, more commonly called FATCA. Tax Deloitte Tax looks at executive comp guidance News Team Sunday, September 02, 2018 1:00 am http://ambankers.net/article/38754/deloitte-tax-looks-at-executive-comp-guidance The Treasury Department and the IRS anticipate further guidance will be issued in the form of proposed regulations and that the proposed regulations will incorporate guidance addressed in the notice. Tax OECD releases fourth round of BEPS Action 14 peer review reports on improving tax dispute resolution mechanisms News Team Sunday, September 02, 2018 1:00 am http://ambankers.net/article/38755/oecd-releases-fourth-round-of-beps-action-14-peer-review-reports-on-improving-tax-dispute-resolution-mechanisms A document addressing the implementation of best practices is also available for each jurisdiction that opted to have such best practices assessed. Tax IRS warns of looming deadline for US offshore amnesty News Aggregation Team Thursday, August 30, 2018 1:00 am http://ambankers.net/article/38737/irs-warns-of-looming-deadline-for-us-offshore-amnesty In the announcement, the IRS encouraged taxpayers who need to disclose non-compliant and unreported foreign accounts and assets to come forward before the September deadline. Tax African Development Bank: The status quo must change.” - Adesina tells FinDev Canada conference in Montreal News Team Tuesday, September 18, 2018 1:00 am http://ambankers.net/article/38940/african-development-bank-the-status-quo-must-changeamprdquo-adesina-tells-findev-canada-conference-in-montreal Launched six months ago, FinDev’s mandate is to support the growth and sustainability of businesses in developing markets Retail Banking Citi wins tender to buy Israeli government's Bank Leumi stake News Aggregation Team Wednesday, September 05, 2018 1:00 am http://ambankers.net/article/38783/citi-wins-tender-to-buy-israeli-governmentamp039s-bank-leumi-stake Nearly 89 percent of Leumi trades on the Tel Aviv Stock Exchange. Retail Banking Wells Fargo to lay off 638 jobs in mortgage division News Aggregation Team Monday, August 27, 2018 1:00 am http://ambankers.net/article/38702/wells-fargo-to-lay-off-638-jobs-in-mortgage-division Of the 638 job cuts, 137 will be concentrated in Orlando. Retail Banking Israel’s Bank Leumi Eyes Growth as U.S Tax Probe Rankles Rivals News Aggregation Team Tuesday, August 21, 2018 1:00 am http://ambankers.net/article/38642/israelamprsquos-bank-leumi-eyes-growth-as-us-tax-probe-rankles-rivals Leumi settled its investigation by paying a $400 million fine in December 2014—an amount that will likely pale in comparison to the penalties Israel’s two other large lenders will end up paying. Retail Banking JPMorgan to Shut Investment Accounts for Foreign Retail Clients News Aggregation Team Tuesday, August 14, 2018 1:00 am http://ambankers.net/article/38562/jpmorgan-to-shut-investment-accounts-for-foreign-retail-clients JPMorgan’s private-bank clients won’t be affected, the people said. Retail Banking Webster Reports Second Quarter 2018 Earnings News Team Friday, July 20, 2018 1:00 am http://ambankers.net/article/38364/webster-reports-second-quarter-2018-earnings Adjusting for $7.2 million related to an accrual for deposit insurance assessments for periods prior to 2018 and $1.4 million of banking center optimization expenses, earnings per diluted share would have been $0.92. Retail Banking European Challenger Bank invests in US consumer loans News Team Thursday, July 19, 2018 1:00 am http://ambankers.net/article/38342/european-challenger-bank-invests-in-us-consumer-loans This loan purchase programme was implemented by Fintex Capital Retail Banking Bank of America beats, profits climbs 33% News Aggregation Team Monday, July 16, 2018 1:00 am http://ambankers.net/article/38301/bank-of-america-beats-profits-climbs-33 Solid operating leverage and client activity drove earnings higher this quarter Retail Banking HSBC Bank Canada looking to boost retail presence after mortgage blitz News Aggregation Team Thursday, July 05, 2018 1:00 am http://ambankers.net/article/38185/hsbc-bank-canada-looking-to-boost-retail-presence-after-mortgage-blitz The country's seventh-largest lender has been undercutting of other major banks with a five-year, 2.39-per-cent variable mortgage rate and wants to expand Retail Banking CoBiz Financial sold in $1 billion deal News Aggregation Team Wednesday, June 20, 2018 1:00 am http://ambankers.net/article/37975/cobiz-financial-sold-in-1-billion-deal CoBiz also has private bank, wealth management and commercial insurance business. The transaction is expected to close in the fourth quarter. Retail Banking CalPrivate Bank Announces Two New Small Business Lending Divisions News Team Friday, August 24, 2018 1:00 am http://ambankers.net/article/38691/calprivate-bank-announces-two-new-small-business-lending-divisions Adding the right people in the right markets has allowed us to accelerate that process. New Products & Services Pritzker Group Plans to Raise a $1.5 Billion Private-Equity Fund News Aggregation Team Wednesday, October 25, 2017 1:00 am http://ambankers.net/article/35118/pritzker-group-plans-to-raise-a-15-billion-private-equity-fund The duo have already invited other wealthy families to co-invest in private-equity deals New Products & Services Ex-HMC Portfolio Manager Fellas Said To Be Launching Crypto-Focused Hedge Fund News Aggregation Team Friday, August 18, 2017 1:00 am http://ambankers.net/article/34242/ex-hmc-portfolio-manager-fellas-said-to-be-launching-crypto-focused-hedge-fund Fellas will be the new venture’s CIO, according to the Bloomberg article, while former Morgan Stanley executive Ronnie Potel will be managing partner. New Products & Services J.P. Morgan Asset Management Launches Two New ETFS: JPIH and JPEH News Aggregation Team Tuesday, April 05, 2016 1:00 am http://ambankers.net/article/26453/jp-morgan-asset-management-launches-two-new-etfs-jpih-and-jpeh As hedged versions of existing ETFs, JPEH and JPIH provide investors with the potential for higher returns New Products & Services Islamic finance’s global surge remains a missed opportunity for banks in US and Canada News Aggregation Team Friday, March 06, 2015 12:00 am http://ambankers.net/article/18667/islamic-financeamprsquos-global-surge-remains-a-missed-opportunity-for-banks-in-us-and-canada It’s a trend that has accelerated since the 2008 crisis shook confidence in conventional banking, prompting most of the world’s financial capitals from London to Dubai to join the battle to dominate the industry. New Products & Services Hawaii and Islamic Finance News Team Monday, March 02, 2015 12:00 am http://ambankers.net/article/18506/hawaii-and-islamic-finance Alsaboosi mentioned that Emirates airlines recently bought 120 new planes from Boeing New Products & Services FAAIF Brings Islamic Finance to the United States News Team Friday, October 17, 2014 1:00 am http://ambankers.net/article/15685/faaif-brings-islamic-finance-to-the-united-states Paldi explains that in general, educated Americans are excited to learn about new alternative financial structures and investment opportunities. New Products & Services Fallen Heroes of September 11, 2001 Congressional Gold Medals News Aggregation Team Friday, September 12, 2014 1:00 am http://ambankers.net/article/15087/fallen-heroes-of-september-11-2001-congressional-gold-medals The three medals were prepared and struck by the United States Mint and bear unique designs for the World Trade Center, the Pentagon, and Flight 93 in rural Pennsylvania. New Products & Services BNY Mellon launches MyOnCore to enhance oversight and transparency for investment manager outsourcing arrangements News Team Thursday, June 19, 2014 1:00 am http://ambankers.net/article/13450/bny-mellon-launches-myoncore-to-enhance-oversight-and-transparency-for-investment-manager-outsourcing-arrangements BNY Mellon, a global leader in investment management and investment services, has launched MyOnCore, an online portal that offers transparency and oversight to investment managers that have outsourced their middle-office operations. New Products & Services Vonnegut: Bitcoin's Place in Wealth Management News Aggregation Team Friday, June 13, 2014 1:00 am http://ambankers.net/article/13325/vonnegut-bitcoinamp039s-place-in-wealth-management Every financial adviser knows this story in one form or another. It is Friday afternoon, 10 minutes to the market close. New Products & Services Reinsurance sector net income jumps 75% in H1 News Aggregation Team Thursday, September 06, 2018 1:00 am http://ambankers.net/article/38801/reinsurance-sector-net-income-jumps-75-in-h1 The reported combined ratio for the companies included in the index improved to 94.3 percent from 95.0 percent during the period. Company Results Royal Bank of Canada reports record third quarter 2018 results News Team Thursday, August 23, 2018 1:00 am http://ambankers.net/article/38677/royal-bank-of-canada-reports-record-third-quarter-2018-results This quarter’s strong performance also reflects relatively stable credit quality with provision for credit losses (PCL) on impaired loans ratio of 17 basis points (bps) and PCL ratio on loans of 23 bps. Company Results Fiera Capital reports second quarter 2018 results and increases quarterly dividend News Team Monday, August 13, 2018 1:00 am http://ambankers.net/article/38553/fiera-capital-reports-second-quarter-2018-results-and-increases-quarterly-dividend Assets under management amounted to $139.4 billion as at June 30, 2018 Company Results Stifel Reports Second Quarter 2018 Financial Results News Team Tuesday, July 31, 2018 1:00 am http://ambankers.net/article/38456/stifel-reports-second-quarter-2018-financial-results Net revenues of $742.7 million, increased 2.4% compared with the year-ago quarter. Company Results Cowen Announces Second Quarter 2018 Financial Results News Team Friday, July 27, 2018 1:00 am http://ambankers.net/article/38427/cowen-announces-second-quarter-2018-financial-results Strong Q2 Execution Builds on Record Q1 Results to Represent the Company's Best First Half Performance Since Inception Company Results Ameriprise Financial wealth unit earnings soar 20% in Q2 News Aggregation Team Thursday, July 26, 2018 1:00 am http://ambankers.net/article/38409/ameriprise-financial-wealth-unit-earnings-soar-20-in-q2 The company said that the rise was driven by client net inflows, client acquisition and market appreciation. Company Results BNY Mellon Reports Second Quarter 2018 Earnings of $1.06 Billion News Team Thursday, July 19, 2018 1:00 am http://ambankers.net/article/38348/bny-mellon-reports-second-quarter-2018-earnings-of-106-billion Following the release of our CCAR results, we are now authorized to repurchase $2.4 billion in common shares by mid-2019 Company Results JPMorgan profit beats on better-than-expected trading, loan growth News Aggregation Team Monday, July 16, 2018 1:00 am http://ambankers.net/article/38296/jpmorgan-profit-beats-on-better-than-expected-trading-loan-growth Overall, the bank's revenue rose 6.5 per cent to US$28.39 billion Company Results Citigroup executives see better growth ahead, but not yet News Aggregation Team Monday, July 16, 2018 1:00 am http://ambankers.net/article/38297/citigroup-executives-see-better-growth-ahead-but-not-yet Although some businesses are not operating at their full potential, management has confidence in longer-term growth prospects, chief financial officer John Gerspach said. Company Results Class II Multi-Family Office, Reports Record Revenue for Q2 News Team Tuesday, July 10, 2018 1:00 am http://ambankers.net/article/38228/class-ii-multi-family-office-reports-record-revenue-for-q2 The company maintained an approximate 20% cash position throughout the 2nd Quarter of 2018 with approximately $186 Million in risk on (long) trades during the same period. Company Results