In the first nine months of the year, Bank of America's investment bank, wealth management and capital markets units earned $6.7 billion, or well over half the company's overall profits.
Sergio P. Ermotti, UBS's chief for now, wrote in an internal memorandum on Wednesday that the firm would maintain an "integrated bank model" -- an investment bank, wealth management and asset management -- despite the welter of problems that the bank has had to deal with over the last few years.
The new data on trust company assets appear to encompass about 70 percent of that total, as bank wealth-management products usually involve cooperation with a trust company.
"With an estimated net worth of US$820 million… Jerry Seinfeld is laughing all the way to the bank," Wealth-X wrote in the release.
The British bank has sold its retail banking, wealth, investment management and corporate banking business in Spain to Caixa Bank for €800m (£632m).
Credit card, corporate banking, wealth management and asset management operations at Barclays had assets of £140 billion at the end of last year.
[C4.] Merrill Posts 49 Percent Increase in Quarterly Profit Merrill Lynch reported a 49percentt increase in third-quarter earnings on major gains in trading and investment banking, wealth management and asset management.
The "East Side" is shorthand for massive banking wealth and, yes, Dano says, he was raised in one of those ritzy neighbourhoods, but without much money.
In recent years, Singapore has begun to focus on banking, wealth management and other services, moving on from the manufacturing boom of the 1970s and 1980s that first brought prosperity to the city.
The exchange has had a difficult few years, including a couple of failed forays abroad.Switzerland's twin financial centres, Geneva and Zurich, have done well in their specialities of private banking, wealth management and, in Zurich, insurance.
"Fitch has long emphasized that the greatest risk associated with Chinese banks' wealth management activity is the strain it places on funding and liquidity," Charlene Chu, a Fitch analyst, wrote in a research note.
