Africa

HSBC eyes Nedbank Wealth in buy-out talks

HSBC eyes Nedbank Wealth in buy-out talks

Mon, Aug, 23 2010

HSBC is in exclusive talks to acquire a majority stake in South Africa’s Nedbank Group Limited, owned by Old Mutual. The stake is understood to be about 70%. Nedbank Wealth, the private banking arm of the South African bank, reported assets under management of ZAR97.4bn ($13.4bn) to 30 June 2010, a 17.6% increase from the first six months in 2009.Free

HSBC client’s $300m loss stresses TIEA dangers

HSBC client’s $300m loss stresses TIEA dangers

Tue, Aug, 3 2010

The potential dangers of tax information exchange agreements (TIEAs) with countries lacking strong governance have been highlighted by a recent UK court case brought against HSBC Private Bank by a former client Jayesh Shah.Free

Appetite builds for sports wealth management

Appetite builds for sports wealth management

Fri, Jul, 23 2010

Wealth manager London & Capital is to relaunch its sports wealth management service as wealth managers hone in on sportspeople due to rapid salary growth in recent decades.Free

StanChart making noise in Africa

StanChart making noise in Africa

Tue, Jul, 20 2010

Africa had the third-highest growth rate among high net worth individuals in 2009 and has a booming commodities industry, but its onshore market remains largely untapped by private banks. Marianne Hay discusses Standard Chartered’s African push.

Barclays Wealth bolsters Africa team

Barclays Wealth bolsters Africa team

Mon, May, 10 2010

Barclays Wealth has expanded its Africa team with the appointment of five new private bankers to its International Private Bank (IPB) EMEA.Free

BNP sets up in Morocco, eyes Egypt

BNP sets up in Morocco, eyes Egypt

Thu, Feb, 25 2010

Africa is likely to be the slowest-growing region measured by wealth generation in the coming years, but there are some pockets of the continent which are being targeted by private banks.