Wealth Management Competitor Tracker, September 2008

Published by: Datamonitor

Published: Dec. 9, 2008 - 27 Pages

Table of Contents

Overview

Catalyst

Summary

Methodology

Table of Contents

Introduction

The Wealth Management Competitor Tracker provides both one month and 12 month views of developments

Each month, Datamonitor tracks the most relevant announcements from 57 competitors

Datamonitor's Wealth Management Team provides analysis of the key developments at both the one month and 12 month level

A fully searchable database of the past 12 months of developments is also delivered alongside the report

Key Trends and Developments in September

There were several notable developments within the wealth management industry during September

Bank of America purchases Merrill Lynch

Barclays Wealth acquires Lehman Brothers Private Investment Management

Berkshire Hathaway gains stake in Goldman Sachs

In September, the wealth management market continued its slowdown of activity

There were a total of 27 competitor developments in September

M&A activity and staffing changes dominated the wealth market in September

Competitor activity continued to remain strong in Europe and Asia

Product innovation and customer targeting

Barclays

HSBC

Bank of Scotland International introduces a Nikkei Supertracker offshore savings account

M&A, Partnerships and Organic Growth

ANZ

ANZ creates customer-focused business model to support growth and performance

Bank of America

Bank of America purchases Merrill Lynch

Barclays

Barclays Wealth acquires Lehman Brothers Private Investment Management

Citigroup

Citibank Thailand and MFC Asset Management offer structured fund

Goldman Sachs

Berkshire Hathaway gains stake in Goldman Sachs

HSBC

Transfer of ownership for HSBC Private Bank in Luxembourg

Mitsubishi UFJ

Mitsubishi UFJ enters into a strategic capital alliance with Morgan Stanley

Morgan Stanley

Nordea

Nordea has acquired part of Roskilde Bank

RBS

Royal Bank of Scotland rebrands new businesses in GCC financial services sector

Sal Oppenheim

Private Bank Sal. Oppenheim opens branch office in Lugano, Switzerland

Sarasin

Bank Sarasin expands presence in the Swiss market

Société Générale

SG Private Banking creates two new banking centres in Marseille and Lyon

Westpac

St.George and Westpac have agreed a revised merger proposal

Standard Chartered

Standard Chartered has received approval for local incorporation in Vietnam

Staffing

Bank of America

Bank of America names William M. Lissau Oklahoma state president and Tulsa market president

Barclays

Barclays Wealth hires Chokkalingam Gangatharan as head of Equity Research as a part of its continued Indian expansion

Bessemer Trust

Bessemer Trust's Atlanta office appoints Michael A. Gragnani as senior vice president

Citigroup

Citi announces senior executive appointments

Crédit Agricole

Appointments announced for Crédit Agricole

Crédit Suisse

Appointment of Joseph Tan as Asian chief economist at Crédit Suisse's Private Banking division

Credit Suisse makes new hires in Australian Private Banking Division

Peter Eckert has been nominated as the new Chairman of Clariden Leu's board of directors

Deutsche Bank

Deutsche Bank appoints Robert Kalff to lead new business unit in London

Julius Baer

Bank Julius Baer appoints Stephan Haeberle as regional head of Central and Eastern Europe and parts of Africa

Appendix

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

List of Tables

Table 1: The 57 companies covered by Datamonitor's Wealth Management Competitor Tracker

List of Figures

Figure 1: Developments in the wealth management space continued to remain slow in September

Figure 2: There was a sharp increase in M&A activity as several companies fell into financial trouble

Figure 3: Regions Europe and Asia continued to see the majority of activity for the month

Abstract

• Track the strategies announced by 50+ of your key competitors.
• Assess which geographies and strategic areas are seeing the most activity.

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