Lloyds Monaco sold to Union Bancaire Privee

 June 04, 2013

Union Bancaire Privee (UBP) is buying Lloyds Banking Group Plc’s international private banking arm, as the bailed-out British lender focuses on its domestic market and the Swiss wealth manager builds on a recent acquisition spree. Geneva-based UBP has struck several deals in the past two years to rebuild an asset base which almost halved through […]

Brazil a key issue in HSBC sale

 May 30, 2013

The impending disposal of HSBC private bank in Monaco, most likely to Safra Bank, has very much a Latin American flavour. Both banks employ a considerable number of bankers with a focus on Brazil, now the world’s seventh-largest economy. Safra Bank has very strong historical links with Brazil, since it was home to the Safra […]

Young people mark Monaco’s UN admission

 May 29, 2013

The Youth Water Conference opened yesterday at the Prince Rainier III Auditorium, organized on the UN model by Charles III College, under the aegis of the Department of National Education, Youth and Sports. Yesterday marked 20 years exactly from the time of Monaco’s admittance as a full member of the United Nations A total of […]

HSBC’s Private Bank May Sell Monaco Business, Has Received “Unsolicited” Interest

 May 28, 2013

HSBC Private Banking Holdings (Suisse), part of a global banking group that has spun off a number of businesses to boost profitability, says it is reviewing its Monaco private banking operation with a view to a possible sale. Meanwhile, the parent bank, in a statement issued to the London Stock Exchange today ahead of a […]

BNP Monaco investigated for African money laundering

 May 26, 2013

The BNP Paribas branch in Monaco has been exposed by the Sherpa organisation for allegedly concealing a money laundering network between Monaco and various African countries. “We have written to the general prosecutor of Monaco, Jean-Pierre Dreno, to bring this matter to his attention and to ask him to open an inquiry,” said Sherpa spokesperson, […]

Internet boost for Monaco’s ports

 May 15, 2013

Monaco’s new Wifi services have been inaugurated in the ports of the Principality as part of a large scale plan to increase the region’s internet facilities. Thanks to technical advances, Monaco Telecom can now offer Wifi and telecom services onboard boats, with special packages just for the Grand Prix F1 and the Monaco Yacht Show. […]

Amid Shake-Up, Barclays’ Investment Banking Chief Steps Down

 April 19, 2013

Barclays, the global bank that has been in the spotlight over its role in a rate-rigging scandal, is shaking up its management ranks as it seeks to distance itself from the era of Robert E. Diamond Jr., its former chief executive. Rich Ricci, the head of the bank’s investment banking group, and Thomas L. Kalaris, […]

Barclays cuts 3,700 jobs in overhaul

 February 28, 2013

The new boss of Barclays has attempted to break from the bank’s scandal-ridden recent past by announcing plans to pull out of controversial businesses that speculate on food prices, specialise in “industrial scale” tax avoidance schemes and use the bank’s money to bet on markets. Antony Jenkins, promoted to the top job last year when […]

Barclays misled shareholders about source of £3bn

 February 18, 2013

Barclays misled shareholders and the public about one of the biggest investments in the bank’s history, a BBC Panorama investigation has found. The bank announced in 2008 that Manchester City owner Sheikh Mansour had agreed to invest more than £3bn. But the BBC found that the money, which helped Barclays avoid a bailout by British […]

Motivations to Invest in Art

 February 10, 2013

Diversification: An investment in art can be an effective tool to reduce the risk exposure of a carefully planned investment portfolio. This would be an ideal measure to employ during a period of market volatility. The prerequisite here, is top-quality art and a long-term view of 10 years or more. Research supports the ability of […]

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