Private Banking

HSBC says to shut down India private banking business

HSBC Holdings Plc will shut its private banking business in India, a spokesman said, marking the exit of another foreign bank from the cut-throat business in Asia's third-largest economy.

Private bank shares pile up smart gains on govt nod to raise foreign holding

Private banking shares advanced sharply on the bourses rising over 1-4.5 percent each

Gold is your insurance policy, buy it: Bankers to the rich

For the quarter ended September, gold posted a quarterly gain of 8 per cent -its biggest this year, despite a drop of 11 percent last month.

Yes Bank joins the bandwagon, hikes NRI deposit rates to 9.6 pct

Private lender Yes Bank said it will raise interest rates on fixed deposits held by non-resident Indians (NRIs) to 9.6 percent from 3.82 percent.

HDFC Bank raises the bar, offers 9% interest on NRE deposits

The Reserve Bank of India deregulated interest rates on non-resident external rupee deposits and ordinary non-resident accounts to provide greater flexibility to banks to attract dollars.

So many Indian millionaires but why a dearth of private bankers?

A dearth of fee-spinning alternate investment vehicles such as hedge funds and private equity, and an underdeveloped corporate bond market means most investments are channeled into run of the mill equity products, bank deposits, and government bonds.

Julius Baer to take over Macquarie's Asia pvt wealth portfolio

Swiss private bank Julius Baer agreed to buy the $1 billion Asian private wealth portfolio of Australia's top investment bank Macquarie Group, in a sign of consolidation in Asia's wealth management industry.

UBS's new CEO commits to keeping US brokerage

The trading loss and Gruebel's departure also has breathed new life into a long-standing rumor that UBS would divest or spin off its US brokerage arm, which is not as profitable as the Swiss company's private banking businesses.

C.Suisse buys Morgan Stanley's European wealth arm

ZURICH (Reuters) - Credit Suisse ( CSGN.VX ) is buying Morgan Stanley's ( MS.N ) wealth management arm in Europe, the Middle East and Africa, acquiring $13 billion in assets in a move to offset exposure to more volatile investment banking. The assets are tiny by the standards of Credit Suisse's private banking operation, the world's fifth-largest with nearly 800 billion Swiss francs under management.