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UBS said in August that it would separate its three main businesses — wealth management, investment banking and asset management — to give each greater autonomy and "maximum strategic flexibility".
While the technology industry and its compensation practices have increased the region's income inequality over the last generation, taxing businesses, wealth or investments alone for affordable housing funds won't solve the housing issue.
Royal Bank of Canada's purchase of City National Corp., the priciest bank deal since the financial crisis, will create major expansion opportunities for the L.A. banking firm's key businesses — wealth management, entertainment services, private and commercial banking.
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They will also have to rethink two related businesses: wealth-management products and interbank claims.Wealth-management products raise money, mostly from better-off individuals, for fixed periods (often less than six months).
Business: wealth creators?
Americans have long been seen as admirers of business wealth.
But they nevertheless represent the most significant concentration of business wealth in the world.
Business wealth was also severely impacted by the recession.
First, we attempt to explain wealth holdings defined as the sum of financial, equity and business wealth.
Deconstructing Conflict: Understanding Family Business, Shared Wealth and Power.
Now executives describe Merrill's business as "wealth management".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com