A6659 - Highworth - EMEA 2010.vp

Transcription

The Wealth Management
Industry – Europe, Middle
East and Africa
Sample entries of wealth management
companies from selected countries
Published in the UK by
Highworth Research Ltd
Durham House, 1 Amity Grove
London, SW20 0LQ
Tel. +44 (0) 20 8946 5910
www.highworthresearch.com
© Highworth Research Ltd 2010
All rights reserved
Disclaimer
This publication is a creative work fully protected by all applicable copyright laws. No
part of this work covered by the copyright herein may be reproduced or used in any
form or by any means without the prior permission of the publisher.
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of the publisher, they will be fully corrected in the next printed version of the
publication, as well as in the online version. The publisher has not accepted any
payment for the listings in this publication, and publication of a descriptive profile
of any institution in this work does not in any way imply endorsement or
recommendation on the part of the publisher.
Sample Profiles
Industry
– EMEAfor the Wealth Management
Sample Profiles for the Wealth
Management Industry – EMEA
Mr Olivier Perrain, Head of Key Clients Unit
Mr Tom Vanden Borre, CEO, Fortis Private
Banking International
Ms Cecile Cassin, Head of Communications,
International
Mr Bernard Espinas, Head of Compliance
Ms Isabelle Gava-Fauvel, Global Head of
Human Resoiurces
Ms Agnes Tran-Pommel, Head of
Communications, Wealth Management
Networks
France
BNP Paribas Wealth Management
(France)
MAIN ADDRESS
33, rue du Quatre Septembre, Cedex 02,
Paris, 75078, France
Tel: +33 1 55 35 93 60
Web:
www.banqueprivee.bnpparibas.com/france
ANALYSIS OF BUSINESS
BNP Paribas was created on 23 May 2000,
through the merger of Banque Nationale de
Paris (BNP) and Paribas. It employs 140,000
people, of which 80,000 work in Europe,
and maintains a presence in 87 countries. In
France, BNP Paribas is active in retail
banking with 2,200 branches and over 3,200
ATM machines. BNP Paribas serves over 6
million French households and 60,000
corporate customers.
BNP Paribas Wealth Management has a
portfolio of activities, organised into three
core businesses including Retail Banking,
Corporate & Investment Banking and Asset
Management & Services. The Bank offers
global advice in wealth management
advisory, tax & estate planning, financial
MANAGEMENT NAMES AND JOB TITLES
Mr Francois Debiesse, Chief Executive Officer
Ms Marie-Claire Capobianco, CEO, Wealth
Management Networks
Mr Michel Longhini, CEO, Wealth
Management International
Mr Olivier Coenon, Head of Corporate
Solutions
Mr Serge Forti, Head of Wealth Management
International, Asia Pacific
Mr Olivier Maugarny, Head of Global
Offering
Mr Hubert Musseau, Chief Operating Officer
& Head of Risk Functions
Mr Michel Rouach, Finance Director
Mr Alain Marbach, Global Head of
Information Technology
© Copyright Highworth Research 2010
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SAMPLE PROFILES FOR THE WEALTH MANAGEMENT INDUSTRY – EMEA
Banking group now stand at Eur 239 billion
at the close of 2009. On 13th May, 2009 BNP
Paribas confirmed the completion of its
acquisition of Fortis which as a result has
created the largest private wealth
management firm in the euro zone.
The assets under management in the
summary financials below are for BNP
Paribas Wealth Management. The figure for
assets under management at the close of
2009 includes the newly acquired Fortis
wealth management operations, and Insinger
de Beaufort.
management (asset allocation, discretionary
portfolio management, hedge funds advisory,
stock options, structured products and
private equity), insurance & retirement and
diversifying assets. There are 212 Private
banking centres in France.
BNP Paribas Private Bank and Thanachart
Securities, a member of the Thanachart
Group, are forming a strategic business
alliance to provide services to high net worth
individuals. They will work together to
develop wealth management services
adapted to the Thai market.
In 2008 BNP Paribas rebranded and
restructured its wealth management business
which now comprises two business lines:
Wealth Management Networks (WMN),
supported by the future Retail Banking
Group and operating as a joint venture with
Asset Management and Services (AMS) and
Wealth Management International (WMI),
coming under AMS.
On 6th October 2008, BNP Paribas
announced it had agreed to take control of
Fortis’ operations in Belgium and
Luxembourg, as well as the international
banking franchises, for a total consideration
of €14.5 billion. This transaction provides
BNP Paribas with the opportunity to roll out
further its integrated banking model in
Europe. As a result of this transaction, BNP
Paribas will have two new domestic markets,
Belgium and Luxembourg, to add to its
existing domestic markets in France and
Italy. This deal confirms BNP Paribas’
position as the Eurozone’s leading
cross-border bank with 4 domestic markets.
The assets under management of the
combined BNP Paribas and Fortis Private
SUMMARY FINANCIAL STATEMENT
2009
2008
(Eur. million) (Eur. million)
Assets under
management:
239,000
189,000
YEAR FOUNDED
2000
SERVICES OFFERED
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Asset protection – Family Office Services;
Estate Planning; Philanthropy Services;
Trusts; Tax Planning; Foundations;
Pensions; Insurance Products
Banking Services – Card Services; Credit
Products; Current Accounts; Deposits;
Mortgages
Investment management – Advisory
Management; Asset Allocation Strategies;
Discretionary Management; Bonds; Capital
Protection Products; Commodities;
Derivatives; Hedge Funds; Real Estate;
Structured Products; Private Equity; Mutual
Funds; Equities; Foreign Exchange; Fixed
Income Funds
GERMANY
MAIN ADDRESS
Berenberg Bank, Niederlassung Muenchen,
Christine Gärtner, Possartstraße 21,
München, 81679, Germany
Fax: +49 89 25 55 12-200
Email: [email protected]
Web: www.berenberg.de
Joh. Berenberg, Gossler & Co. KG, Neuer
Jungfernstieg 20, Hamburg, 20254,
Germany
Tel: +49 40 350 60 0; Fax: +49 40 350 60 900
Berenberg Bank, Niederlassung Stuttgart,
Oliver Holtz, Panoramastraße 17, Stuttgart,
70174, Germany
Fax: +49 711 490 44 90-90
SUBSIDIARIES AND ASSOCIATED COMPANIES
RELATED TO PRIVATE BANKING
DIRECTORS’ NAMES AND JOB TITLES
Germany
Berenberg Bank
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Berenberg
Berenberg
Berenberg
Berenberg
Berenberg
Dr. Hans-Walter Peters, Partner & Spokesman
Mr Andreas Brodtmann, Partner
Mr Hendrik Riehmer, Partner
Bank (Schweiz) AG
Capital Management GmbH
Lux Invest S.A.
Private Capital GmbH
Treuhand GmbH
Mr Michael Otto, General Manager, Private
Banking
Dr. Jorg Liesner, Partner & Spokesman,
Family Office
Mr Klaus Ehler, General Manager, Family
Office
PRINCIPAL ADDITIONAL OFFICES
Berenberg Bank, Niederlassung Duesseldorf,
Raymund Scheffler, Cecilienallee 4,
Düsseldorf, 40474, Germany
Fax: +49 211 54 07 28-28
Berenberg Bank is the oldest private bank in
Germany, and provides its affluent customers
with a full range of private banking services
inclidng investment management, financial
planning and tax advice, and fiduciary
services. Family Office services are available
to the bank’s UHNW clients.
Berenberg’s net profits increased by 38%
in 2009, a record for the bank, while assets
under management grew 8% to 21.9 billion
Euros.
Berenberg Bank, Niederlassung Bielefeld,
Volker Steinberg, Bielefeld, Germany
Fax: +49 521 97 79-200
Berenberg Bank, Niederlassung Bremen,
Thomas Müller, Hollerallee 77, Bremen,
28209, Germany
Fax: +49 421 347 72 61
Berenberg Bank, Niederlassung Frankfurt,
Lars Andersen, Untermainanlage 5,
Frankfurt am Main, 60329, Germany
Fax: +49 69 91 30 90-55
Pretax profit:
Assets under
management:
2009
2008
(Euros million) (Euros million)
20,365.1
20,347.1
21,900.1
20,300.1
YEAR FOUNDED
1590
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SERVICES OFFERED
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investment companies associated with the
Harald Quandt family provide various types
of asset management services for other
affluent families and institutional investors.
These investment companies have a
combined total of more than $14 billion in
assets under management.
The core business of Harald Quandt
Holding is the development of international
investment management strategies which are
oriented towards alternative investment asset
classes. Operationally these involve the
following companies:
* HQ Trust, providing multi family office
services to nine other families in addition to
the Harald Quandt family
* Auda International, an international
investment company specialising in private
equity and hedge funds, with $5 billion in
assets under management
* RECAP (Real Estate Capital Partners),
which provides advisory and management
services related to real estate investment in
the USA, $8 billion having been invested
since commencement in 1989
* Equita Management, which finances the
acquisition of stakes in midcap/mittelstand
companies in German speaking countries
* Penjing, a fund of funds manager
specialising in Asian hedge funds, and
formed in 2005 by the Wu, Dennis Sun, and
Harald Quandt families. Assets under
management are approximately USD 500
million.
Mortgages
Private Equity; Mutual Funds; Equities;
Foreign Exchange; Fixed Income Funds
Harald Quandt Holding
MAIN ADDRESS
Am Pilgerrain 17, Bad Homburg, Hessen, DE
61352, Germany
Tel: + 49 (0) 6172 4022; Fax: + 49 (0) 6172
402119
Web: www.haraldquandt.de
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HQ Trust, Bad Homburg
Auda International, Caymans, New York,
London, Bad Homburg, Hong Kong
RECAP, New York
Equita, Bad Homburg
Penjing Hong Kong, Singapore
Dr. Fritz Becker, Chief Executive
Dr. Ernest Boles, Executive Director
Mr Markus Stadlmann, Executive Director &
Chief Investment Officer
2009
2008
(USD million) (USD million)
Assets under
management:
14,000
12,500
SERVICES OFFERED
Harald Quandt Holding is a private
investment company which manages the
pooled assets of the heirs of the late Harald
Quandt, of the Quandt industrial dynasty
originally established by Gunther Quandt, a
textile magnate and investor, in the 1920s.
Within the holding company, several
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Philanthropy Services; Trusts; Tax
Planning; Foundations
Discretionary Management; Bonds;
LIECHTENSTEIN
Structured Products; Private Equity;
Equities; Fixed Income Funds
Liechtenstein
LGT Group
MAIN ADDRESS
Herrengasse 12, Vaduz, FL-9490,
Liechtenstein
Tel: +423 235 11 22; Fax: +423 235 15 22
Web: www.lgt.com
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LGT
LGT
LGT
LGT
LGT
Capital Management Ltd.
Financial Services Ltd
Group Foundation
Service Center Bendern
Treuhand AG
LGT Bank in Liechtenstein & Co. OHG,
Berlin, Kurfürstendamm 36, Berlin,
D-10719, Germany
Fax: +49 30 889 288 40
Web: www.lgt.com
LGT Bank (Ireland) Limited, Segrave House,
19/20 Earlsfort Terrace, Dublin 2, Ireland
Fax: +353 1 433 74 13
Web: www.lgt.com
LGT Bank (Österreich) AG, Kantgasse 1,
Wien, A-1010, Austria
Fax: +43 1 22759-6790
Web: www.lgt.com
LGT Bank (Switzerland) Ltd, Basel, Lange
Gasse 15, P.O. Box, Basel, CH-4002,
Switzerland
Fax: +41 61 277 55 88
Web: www.lgt.com
Prince Max von und zu Liechtenstein LGT
Group CEO
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LGT Asset Management provides access to
investment opportunities internationally. This
division of LGT offers a selection of
internationally sourced investment managers
in traditional and alternative asset classes, as
well as the development and optimisation of
asset allocation models and of investment
processes, products and solutions.
Significant events for the bank in 2009
included the acquisition of Dresdner Bank
(Switzerland) in December and the sale of
LGT’s trust and fiduciary businesses in early
2009.
Despite a reduction of 22% in pretax
profits for 2009 to CHF 155.7m, and a
reduction in group net profits of 35% to CHF
106 m., assets under management grew
13.6% to CHF 89 billion.
Dr. André Lagger, CEO Operations &
Technology
Mr Roberto Paganoni, CEO Alternative Asset
Management
Mr Olivier de Perregaux, LGT Group CFO
Mr Torsten De Santos, CEO Traditional Asset
Management
Mr Thomas Piske, CEO Wealth Management
International
Mr Norbert Biedermann, Stellvertretender
Vorsitzender
Mr Paul Goldi, Manager
Ms Elizabeth Zwicky, Director
Mr Ralph Kotesovec, Manager
Mr Stephan Tanner, Manager
The LGT Group is the wealth and asset
management group of the Princely House of
Liechtenstein. It offers its services to private
clients, private investors and institutional
investors. LGT has 1,700 employees in 29
locations in Europe, Asia, the Middle East
and the Americas.
LGT Wealth Management offers personal
support for high and ultra high net worth
private clients through the provision of
investment advisory and asset management
services, financial planning (pension and
succession planning, taxmanagement and
planning), provision of loans and financing,
the establishment and management of trusts
and foundations, and art consulting services
for those with private art collections.
As the Family Office of the Princely Family
of Liechtenstein, LGT has extensive
experience over decades of the structuring
and management of substantial family assets.
Pretax profit:
Total assets:
Assets under
management:
2009
2008
(CHF million) (CHF million)
24,155.7
24,200.2
24,800.2
22,800.2
89,000.2
78,300.2
SERVICES OFFERED
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Estate Planning; Trusts; Tax Planning;
Foundations; Pensions; Insurance Products
Banking Services – Deposits; Mortgages
Commodities; Derivatives; Hedge Funds;
Real Estate; Equities; Foreign Exchange;
Fixed Income Funds
SAUDI ARABIA
owned bank. The shareholders of SEDCO
divested their holdings in NCB in 1994.
SEDCO is a leading private wealth
management organisation which conducts
business according to Islamic principles. The
company manages a diversified portfolio of
investments in equities, real estate, and other
businesses in Saudi Arabia and
internationally.
SEDCO combines modern investment
processes with Shari’ah guidelines to allow
Moslems to invest in a manner consistent
with their faith. The company is organised
into three business groups.
The Financial Investments Group
undertakes both equities investment and
financing on its own behalf and through
portfolios placed with fund managers and
financial institutions. These portfolios are
spread across different asset classes
including public and private equity and
venture capital, and across all regions
including emerging markets, and including
small and mid-caps. The Group works with
some of the world’s leading financial
institutions to develop a global market for
Shari’ah compliant investments. The
company’s partnership with Permal Asset
Management has resulted in the AlFanar
group of funds, while in conjunction with
UBS the company launched the Global
Timber Fund.
The Direct Investments Group managers
SEDCO’s private equity investments in the
MENA region, applying the criterion of
conformity with Shari’ah guidelines.
Typically the Group is a long term investor
and strategic partner with a minimum stake
of 20%. Medium sized private companies
with sales between $100m and $250m with
good track records and growth potential
represent optimal investment opportunities
for the Group.
The Real Estate Investments Group holds a
portfolio of over 300 diversified properties
located in 18 countries across the Middle
East and Africa, North America, Europe, and
the Far East. Holdings include development
Saudi Arabia
Saudi Economic & Development
Company (SEDCO)
MAIN ADDRESS
P.O. Box 4384, Jeddah, Makkah Province,
21491, Saudi Arabia
Tel: +966 (2) 682 6556; Fax: +966 (2) 606
0931
Web: www.sedcogroup.com
Mr Saleh Salem Bin Mahfouz, Chairman of
the Board
Mr Abdelelah Salem Bin Mahfouz, Director
Mr Ahmed Salem Bin Mahfouz, Director
Mr Saleh Al-Turki, Non-Executive Director
Mr Hani Findakly, Director
Mr Ahmed Sulaiman Banaja, Chairman
Dr. Adnan Soufi, Chief Executive Officer
Mr Shuaib Ahmed, Director & Chairman of
Strategy Committee
Mr Savio Tung, Non-Executive Director
Mr Yousuf Khayat, Managing Director,
Direct Investments Group
Mr Adnan Soufi, Managing Drector,
Financial Investments Group
Mr Mohammed Joukhdar, Advisor
Mr Khalid Gama, Vice President, Financial
Investments Group
Mr Sami Alawfi, Vice President, Information
Technology
SEDCO is a diversified private investment
company engaged in financial investments,
direct equity investment, and real estate
investment. The company is wholly owned
by the Bin Mahfouz family, and has more
than 1,500 employees in Saudi Arabia. The
late Sheikh Salem Bin Mahfouz was the
founder of the National Commercial Bank,
Saudi Arabia’s largest and first privately
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land, residential, office, retail, industrial,
hotel, and resort properties. The company
works with some of the leading international
real estate asset managers and investors. As
with SEDCO’s Financial, and Direct
Investment Groups, SEDCO’s Real Estate
Investments Group is managed in
accordance with Islamic principles.
SEDCO additionally owns several
independent companies in Saudi Arabia,
including Arabian Entertainment Company
Ltd, involved in the leisure market;
Autoworld, a corporate vehicle leasing
company; Eimar Arabia, a property services
company; and Elaf Travel, Tourism & Hotels
Companies, which manages a number of
luxury hotels in Saudi Arabia as well as a
travel agency network.
The Bin Mahfouz family has an estimated
net worth in excess of $9 billion. SEDCO’s
assets are estimated at in excess of $8 billion.
Switzerland
Bank Vontobel AG
MAIN ADDRESS
Gotthardstrasse 43, Zürich, CH-8022,
Switzerland
Tel: +41 58 283 7111; Fax: +41 58 283 7650
Web: www.vontobel.com
PARENT COMPANY
Vontobel Group
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2009
(USD million)
Assets under
management:
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8,000
Banque Vontobel Genève SA
Vontobel Asset Management AG
Vontobel Fonds Services AG
Vontobel Securities AG
Harcourt Investment Consulting AG
Bank Vontobel Österreich AG
Vontobel Europe SA
Vontobel Financial Products GmbH
Vontobel Treuhand AG
Vontobel Fund Advisory SA
Bank Vontobel Europe AG
YEAR FOUNDED
1976
Dr. Urs Widmer, Chairman of the Board of
Directors
Dr. Wolfhard Graetz, Vice Chairman of the
Board of Directors
Mr Bruno Basler, Director
Mr Peter Quadri, Director
Dr. Pierin Vincenz, Director
Prof. Dr. Ann-Kristin Achleitner, Director
Dr. Philippe Cottier, Director
Dr. Frank Schnewin, Director
SERVICES OFFERED
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Trusts; Foundations; Insurance Products
Investment management – Asset Allocation
Strategies; Discretionary Management;
Bonds; Real Estate; Private Equity; Mutual
Funds; Sharia Compliant Investments;
Equities; Fixed Income Funds
Mr Herbert J. Scheidt, Chief Executive Officer
Mr Roger Studer, Head of Vontobel
Investment Banking
Dr. Zeno Staub, Head of Vontobel Asset
Management
Mr Peter Gubler, Consultant
Mr Peter Fanconi, Group Head of Private
Banking
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SWITZERLAND
advice and inheritance planning, including
tax advisory, pension planning, the
establishment of trusts and foundations, and
the provision of family office services.
Private Banking has units in Zurich, Geneva,
Lucerne, Vaduz, Salzburg, Vienna, Munich,
Madrid, Marbella and Vancouver, with
further branches to open in Basel and Berne
in 2010..
Vontobel Group has launched an initiative
to strengthen its ties with external asset
managers. This includes the establishment of
an independent wealth management
company- VT Wealth Management- to serve
Swiss and international private clients, as
well as family offices, and the provision of a
comprehensive platform to selected
independent wealth management companies.
The new company started operations in May
2008 and focuses on asset management and
investment advisory, as well as wealth
consolidation. Vontobel holds a 51% stake in
this business and 49% is held by the
management.
The figures in the financial summary
below relate to Vontobel Group, which at
the close of 2008 were prior to the
Commerzbank (Schweiz) acquisition. Results
for 2009 showed assets under management
increased by 22% to CHF 75.2 billion for
Bank Vontobel as a whole.
At the pretax level private banking
contributed CHF 21.2m in 2009, down fro
CHF 51m in 2008, and over-shadowed by the
2009 pretax profit from investment banking
which stood at CHF 147m, while asset
management contributed CHF 31.5m . Group
costs in 2009 were CHF 47.9m, down from
CHF 67.5m in the prior year.
Dr. Martin Sieg Castagnola, Chief Financial
Officer
Mr Felix Lenhard, Head of Operations
Mr Juerg Staehelin, Head of Corporate
Communications
Mr Christian Waelti, Head of Investor
Relations
Mr Christoph Blaettler, Head of Portfolio
Management
Ms Nicola Carcano, Head of Portfolio
Management, UHNW Clients
Mr Markus Baur, Managing Director, Private
Banking
Mr Marco Kipfer, Managing Director, Private
Banking
Mr Thomas Raber, Managing Director,
Operations
Ms Beat Barth, Managing Director, Finance
& Risk
Mr Christophe Gruenig, Head of Wealth
Management, Private Banking division.
HIGH NET WORTH CLIENTS FROM
$2,000,000
Vontobel is an internationally-oriented Swiss
private bank which is managed as an
integrated institution offering private
banking, investment banking and asset
management services to affluent private and
institutional clients. Vontobel is a public
company with a strong core of shareholders.
The majority of its equity and voting rights is
in the hands of the family and the Vontobel
Foundation.
In October the Vontobel group concluded
the acquisition of the Swiss operation of
Commerzbank (Schweiz), which increased
the total assets managed by the Group to
CHF 65 billion, of which CHF 24.5 billion is
attributable to the private Banking division.
The private banking business unit
addresses the needs of wealthy private
clients, both HNW and UHNW. The offering
comprises a wide variety of services, ranging
from portfolio management and active
investment advisory to integrated financial
Pretax profit:
Total assets:
Assets under
management:
2009
2008
62,151.9
62,137.3
18,081.9
15,531.9
75,200.9
62,400.9
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YEAR FOUNDED
Andar, Edificio Lugano, Sao Paulo, 04531 –
003, Brasil
Fax: +55 11 3167 0083
1924
SERVICES OFFERED
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Clariden Leu Ltd, The Bahamas Financial
Centre, 4th Floor, Shirley & Charlotte Sts.,
P.O. Box N – 3926, Nassau, Bahamas
Pensions
Mortgages
Commodities; Derivatives; Hedge Funds;
Real Estate; Structured Products; New
Issues/IPOs; Private Equity; Mutual Funds;
Equities; Foreign Exchange; Fixed Income
Funds
Clariden Leu AG, Vtoroy Obydenskiy
pereulok 11 bld. 2, Moscow, RU – 119034,
Russia
Fax: +7 495 223 8689
Clariden Leu Ltd, 4 A Hassan Sabry Street,
12th floor/Apt 82, Zamalek, Cairo, 11211,
Egypt
Clariden Leu Ltd, Bronz sok. Bize Gore Apt.
No. 5/2, Nisantasi, Istanbul, Turkey
Fax: +90 212 343 8714
Chartered Family Office SA, Carlos Pellegrini
855 – Piso 12, Buenos Aires, 1009,
Argentina
Fax: +5411 5811 0699
Clariden Leu AG, Schweiz
MAIN ADDRESS
Clariden Leu Ltd, Cerrito 1186, Piso 13,
Buenos Aires, C1010AAX, Argentina
Fax: +5411 4816 1229
Bahnhofstrasse 32, Zurich, CH-8001,
Switzerland
Tel: +41 58 205 2111; Fax: +41 58 205 2191
Web: www.claridenleu.com
Clariden Leu Escritorio de Representacao
Amoreiras, Av. Eng. Duarte Pacheco, Torre
2 – 4, Andar, Sala 10, Lisbon, 1070 102,
Portugal
Fax: +351 21 380 80 90
PARENT COMPANY
Credit Suisse Group
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DS AS Theologos Clariden Leu Ltd, P.O. Box
1598 Vika, Oslo, NO – 0118, Norway
Fax: +47 23 11 6401
Clariden Leu Trust (Switzerland) Ltd
Clariden Leu Trust (Liechtenstein) Ltd
Clariden Leu Trust (Mauritius) Ltd
Clariden Leu Trust (New Zealand) Ltd
Clariden Leu Tust (Cayman) Ltd
Chartered Family Office SA, Argentina
Clariden Leu Ltd, Valdemara Centre, K
Valdemara iela 21, Riga, LV – 1010, Latvia
Fax: +371 6703 5301
Mr Peter Eckert, Chairman
Dr. iur. Walter Berchtold, Vice Chairman,
Head of Private Banking
Dr. Romeo Cerutti, Director
Prof. Dr. Felix Gutzwiller, Director
Mr Sergio Zoppi, Director
Dr. iur. Peter Isler, Vice Chairman
Mr Hans-Ulrich Meister, Director
Clariden Leu Ltd, 80 Raffles Place, 27-01,
UOB Plaza 1, Singapore, 048624,
Singapore
Fax: +65 6536 3500
Clariden Leu do Brasil Assessoria Comercial
Ltda, Rua Pedroso Alvarenga 900, 5.
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SWITZERLAND
The bank’s overall goal according to chief
executive Hans Nutzi is to increase assets
under management by over 6% a year which
received a setback for credit crunch related
reasons in 2008. However at the half way
point in 2009 the bank reported an
improvement in AUM to CHF 101 million,
net new assets in the first half of the year
increasing by CHF 600 million, but still short
of the total of CHF 118 bn at the halfway
point in 2008. By the end of 2009 assets
under management had increased to CHF
102 billion from CHF 94 billion in 2008.
Mr Hans Nutzi, Chief Executive Officer
Mr Stefan Krauchi, Director, Products &
Services
Mr Adrian Leuenberger, Head of Private
Banking, Europe
Mr Adrian Nosberger, Head of Private
Banking, Switzerland
Dr. Roland Herrmann, Chief Operating
Officer
Mr Roland Kurmann, Chief Financial Officer
Mr Marcel Schmocker, Director, Legal &
Compliance
Mr Martin Klaus, CEO, Investment Products
Mr Markus Willi, Head of Latin America &
Iberia division
Dr. Erich Pfister, Head of Private Banking,
Middle East & Asia
Mr Thierry de Loriol, Head of Private
Banking Europe, Geneva
Mr Stephan Peterhans, Head of Human
Resources
Mr Ernst Klossner, Senior Relationship
Manager
Mr Ariste Chiabotti, Managing Director,
Premium Client Solutions
Mr Holger Demuth, Chief Risk Officer
2009
2008
102,353
94,212
Pretax profit:
Assets under
management:
102,000
94,000
YEAR FOUNDED
2007
SERVICES OFFERED
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Clariden Leu is one of the 3 largest providers
of private banking services in Switzerland.
The bank represents the outcome of the
merger in January 2007 of the Credit Suisse
subsidiaries Bank Leu AG, Bank Hofmann
AG, BGP Banca di Gestione Patrimoniale SA,
Credit Suisse Fides, and Clariden Bank.
Clariden Leu is a 100% controlled subsidiary
of Credit Suisse Group.
Clariden Leu offers a full range of private
banking services both within Switzerland and
in selected locations abroad. These include
advisory and discretionary investment
management, financial planning, retirement
planning, inheritance advisory services, and
trust and foundation formation services.
Banking Services – Credit Products;
Current Accounts; Deposits; Mortgages
Structured Products; New Issues/IPOs;
Private Equity; Offshore Funds; Mutual
Income Funds
EFG International
MAIN ADDRESS
Bahnhofstrasse 12, Zurich, CH-8001,
Switzerland
Tel: +41 44 226 1850; Fax: +41 44 226 1855
Web: www.efginternational.com
11
PARENT COMPANY
NUMBER OF RELATIONSHIP MANAGERS
EFG Group
650
l
EFG International, with headquarters in
Zurich and listed on the SWX Swiss
Exchange since 2005, is the global private
banking operation of EFG Group,
Switzerland’s third largest bank by
shareholders’ equity. EFG Bank European
Financial Group, the parent of EFG Group,
holds a 48.74 % participation in EFG
International, with senior management
holding in excess of a further 10%. EFG
International’s private banking businesses
operate in 48 locations in over two dozen
countries.
EFG International’s private banking
services include investment management and
securities brokerage, wealth management
advisory, traditional banking services, foreign
exchange, loans, custody services, financial
advisory, and fiduciary services. The group
offers clients an open architecture approach
in addition to internally developed products.
EFG considers that it has particular strengths
in alternative investments including
structured products, hedge funds, and fund
of funds, offered through its subsidiaries EFG
Financial Products in Switzerland, CM
Advisors in Bermuda, PRS in Miami, and
Marble Bar Asset Management LLP in
London.
The Group is highly international in scope,
with private banking operations in 50
locations in some 30 countries including
Switzerland, the UK, Channel Islands,
Sweden, Finland, Luxembourg, Monaco,
Liechtenstein, Spain, and Gibraltar. During
2009 seven offices were closed for cost
reduction reasons, including Bahrain, buenos
Aires, Mexico City, Victoria (Canada), and
three offices in Switzerland.
The group’s Zurich based subsidiary EFG
Bank supplements its European offshore
services through its Guensey branch and its
banking subsidiaries in Gibraltar,
Liechtenstein, and Monaco.
EFG Bank
Mr
Mr
Mr
Mr
Mr
Mr
S.J. Latsis, Chairman
E.L. Bussetil, Director
S.J. Latsis, Director
H.N. Matthews, Director
P. Petalas, Director
H. Niederer, Director
Mr Lawrence D Howell, Chief Executive
Officer
Mr Rudy van den Steen, Chief Financial
Officer
Mr Fred Link, Group General Counsel & Chief
Risk Officer
Mr James T H Lee, Chief Executive Officer,
Asset Management
Mr Alain Diriberry, Chief Operating Officer
Mr Lukas Ruflin, Deputy Chief Executive
Officer
Mr M. Lanfear, Head of Funding & Capital
Markets
Mr M. Rodel, Head of Controlling &
Financial Reporting
Mr I. Steiger, Head of Investment Finance &
Credit
Mr Philip Weights, Chief Internal Auditor
Mr Jens Brueckner, Head of Investor
Relations
Mr Jacques-Henri Gaulard, Strategic Business
Investment Analyst
Mr Renee Hassiotis-Schuler, Deputy Group
General Counsel
Mr Andrew McQuillan, Strategic Marketing &
Communications
Mr Patrick Zbinden, Head of M & A
Integration
Ms Eftychia Fischer, Chief Risk Officer
Mr Gerard Griseti, CEO, Southern Europe
Mr Daniel Hawson, Head of Trusts, EFG Trust
Company
12
SWITZERLAND
disappointing six months, “our capacity for
growth remains intact.”
By the close of 2009 assets under
management had grown to CHF 87.7 billion,
up 14% from year end 2008. Profit
performance improved in the second half of
2009 but could not prevent a downturn of
54% in net profit to CHF 101 million
compared to year end 2008.
In January 2008, EFG International bought
72% of Madrid-based A&G Group from its
management team. The remaining 28% will
continue to be owned by senior
management and key employees. A&G is a
private wealth manager that provides
advisory services to high new worth
individuals, encompassing estate planing,
investments, brokerage, insurance and
pensions. It also caters to select institutional
clients in the areas of portfolio management
and third party fund sales. Its 61 Employees
including 21 client relationship officers
managing around EUR 2.5 billion of which
the majority relates to HNW individuals.
In January 2009 Jean Pierre Cuoni,
Chairman of EFG International, reported a
positive outlook for the year ahead and said
that the bank was planning to hire more
client advisors. In fact 75 new advisors had
been hired by midway 2009 but overall there
was a net reduction in the headcount of
advisors to 650 by the end of the year.
At the halhway point in 2009 the bank
reported net profits of CHF 20 m, including
one-off charges of CHF 33 m, mainly relating
to an CHF 18.8 m write-off of assets at C.M.
Advisors, the hedge fund acquired in 2006.
This result compared with a net profit CHF
178.7m a year earlier. Assets under
management rose to CHF 80.4 bn, an
increase of CHF 5bn or 7% compared to
December 2008. The increase reflected
foreign exchange and performance gains as
well as net inflows from clients. Of the CHF
80.4 bn in AUM at 30 June, private banking
accounted for the lion’s share at CHF 76.6 bn
with the balance of CHF 3.8 bn being
attributable to Marble Bar Asset Management
and C.M. Advisors.
EFG International implemented a cost
reduction programme in the first half of
2009, including headcount reductions and
the closure of seven offices. The plan is to
save approximately CHF 40m on an
annualised basis. CEO Lonnie Howell
commented that although it had been a
2009
2008
77,109.6
77,221.4
20,650.6
18,894.6
Pretax profit:
Total assets:
Assets under
management:
87,700.6
77,200.6
YEAR FOUNDED
1994
SERVICES OFFERED
l
l
l
Mortgages
Private Equity; Offshore Funds; Mutual
Income Funds
Marcuard Family Office
MAIN ADDRESS
Theaterstrasse 12, Zurich, CH-8024,
Switzerland
Tel: +41 (0) 43 344 6000; Fax: +41 (0) 43
344 6001
Web: www.marcuardfamilyoffice.com
13
rest of Europe, Asia, North and South
America.
Marcuard offers clients a range of
investment strategies based on long term
asset allocation strategies, with conflicts of
interest avoided due to the company’s
independence. Multi-generation financial
planning is also offered together with
advisory services on family governance
systems. The overall aim is to offer clients
solutions which deal with a family’s financial,
legal and personal affairs in a coordinated
manner.
Mr Ulrich Burkhard, Managing Director
Mr Jorg Dobler, Head of Portfolio
Management
Miss Cynthia Liu, Chief Investment Officer
Mr Juerg Frey, Head of Client Relationship
Management
Mr Peter Stocker, Head of Tax, Legal &
Compliance
Mr Martin Sutter, Chief Operating Officer
Mr Jonathan Guest, Client Relationship
Manager
Mr Lukas Dorig, Senior Portfolio Manager
Mr Barbara Kasper, Chief Economist
Mr Frank Nyffenegger, Head of Family Office
Services
Mr Simon Minder, Chief Information Officer
Assets under
management:
NUMBER OF CLIENTS
YEAR FOUNDED
30
1998
2009
(Eur million)
SERVICES OFFERED
Marcuard Family Office is one of the largest
independent Multi-Family Offices in Europe.
Established in 1998, it aims to provide
families which have complex requirements
in respect of the structuring and
management of their assets with
comprehensive advice which goes beyond
traditional asset management. Its thirty
clients are both first generation
entrepreneurs and families consisting of
several financially interwoven generations,
and they are drawn from Switzerland, the
l
l
14
4,700
Trusts; Tax Planning; Foundations
Structured Products; Private Equity;
Offshore Funds; Equities; Fixed Income
Funds
UNITED KINGDOM
Mr Robert Easter, Private Banker
Mr St John Gardner, Head of Collectives
Mr Peter Seamer, Portfolio Manager
Mr Peter Keech, Private Banker
Ms Gillian Keeler, Director, Private Client
Finance
Mr Ashley King, Treasury Manager
Mr Greg Malone, Private Banker
Ms Debbie Phillpotts, Senior Financial
Planning Consultant
Mr Brian Rout, Private Banker
Mr Mark Russell-Stracey, Head of UK Equities
Mr Ian Scott, Regional Head, Financial
Planning, Pensions & Investments
Mr Andrew Tustin, Senior Financial Planner,
Pensions & Investments
Mr Guy Ward, Investment Manager
Mr James West, Senior Private Banker
Ms Amanda Weston, Private Banker
United Kingdom
Arbuthnot Latham & Co
MAIN ADDRESS
Arbuthnot House, 20 Ropemaker Street,
London, EC2Y 9AR, United Kingdom
Tel: +44 (0) 207 012 2500
Web: www.arbuthnotlatham.co.uk
PARENT COMPANY
Arbuthnot Banking Group plc
Mr Henry Angest, Group Chairman and
Chief Executive, Arbuthnot Banking Group
Mr James Cobb, Chief Financial Officer,
Arbuthnot Banking Group
Mr Dean Proctor, Chief Executive Officer,
Arbuthnot Latham & Co
Mr Stephen Hicks, Chief Operating Officer,
Arbuthnot Latham
Mr Nicholas Cotton, Director, Private
Banking
Mr Graham Ball, Regional Associate Director,
Manchester
Ms Dana Bocker, Private Banker
Mr Simon Bonnett, Head of Financial
Planning
Mr Robert Crofton, Private Banker (Motor
Sport)
Mr Paul Denman, Senior Private Banker
(Motor Sport)
Mr Stewart Dick, Director Private Client
Finance
MINIMUM ASSET VALUE REQUIRED PER
CLIENT
£500,000
$2,000,000
NUMBER OF RELATIONSHIP MANAGERS
20
Arbuthnot Banking Group plc, formed in
1833, is comprised of three main divisions.
Arbuthnot Latham provides private banking
15
The bank’s aim is to target clients with
with investable assets of between £0.5
million and £10 million.
The summary financial statement below
relates to Arbuthnot Latham & Co, the
private banking division of the Arbuthnot
Latham group.
and wealth management services. Arbuthnot
Securities is a full service, integrated
investment bank providing a range of
institutional stockbroking and corporate
advisory services focused on UK growth
companies. Secure Trust Bank and OBC
Insurance Consultants provide retail finance
products, predominantly in the West
Midlands.
Arbuthnot Latham provides private
banking and wealth management services,
consisting of three core elements:
Banking, comprising current accounts,
deposit accounts, loans, overdrafts, and
foreign exchange;
Investment Management, comprising
discretionary fund management;
Financial Planning, with pensions forming
an increasing part.
Arbuthnot Latham forms 25 percent of the
Group’s income, and growth in this division
of the Group may be further aided if the
planned establishment of a bank in
Switzerland does eventually move ahead.
Arbuthnot Latham’s pre-tax profit increased
from £0.3 million in 2006 to £1.5 million in
2007, to £2.1 million in 2008 before falling
back to £200,000 in 2009. This drop in
profits was attributable to the start-up costs
associated with the development of a
structured products business initiated in July
2009, coupled with reduced returns from
money market investments in a low-interest
rate environment. Despite the fall in prifits in
the private banking division, assets under
management held steady at £1.1 billion,
while total assets in the division increased to
£370 million.
Arbuthnot Latham’s clients include private
individuals, entrepreneurs, successful
sportsmen and women, property investors
and developers, owner-managed businesses,
solicitors, accountants, insolvency
practitioners, letting and managing agents
and charities. The bank has a unit dedicated
to the financial needs of the affluent in the
horse racing, and motor sport, communities.
Pretax profit:
Total assets:
Assets under
management:
2009
(£ million)
1,100.2
1,370.2
2008
(£ million)
1,102.1
1,311.2
1,100.2
1,000.2
YEAR FOUNDED
1833
SERVICES OFFERED
l
l
l
l
Asset protection – Estate Planning;
Philanthropy Services; Trusts; Tax
Planning; Pensions; Insurance Products
Products; Current Accounts; Deposits
Commodities; Hedge Funds; Real Estate;
Structured Products; Offshore Funds;
Mutual Funds; Equities; Foreign Exchange;
Fixed Income Funds
Other Services – Factoring and Invoice
Discounting, musical instrument financing,
yacht financing
Coutts Private Office
MAIN ADDRESS
440 Strand, London, WC2R 0QS, United
Kingdom
Tel: +44 (0) 207 957 2424; Fax: +44 (0) 207
753 1050
Web: www.coutts.com
PARENT COMPANY
The Royal Bank of Scotland
16
UNITED KINGDOM
£10 million in investable assets with Coutts.
Many clients have assets in excess of £30
million (USD 45 million).
The division currently employs eight
private bankers dealing with 180 clients,
predominantly entrepreneurs who have sold
their businesses, but plans to increase this
team to 23 bankers by 2013. Current strategy
is to roll out the Coutts Private Office
proposition internationally.
For more information on Coutts & Co.
please see main entry.
For the AUM of Coutts & Co, or the Royal
Bank of Scotland Wealth Management
division, please see the separate profile for
each of these institutions.
Mr Duncan MacIntyre, Global Head of Coutts
Private Office
Mr Rupert Allison, Senior Client Partner
Mr Julian Lamden, Principal Client Partner
Mr Alan Ditton, Senior Client Partner
Mr Warren Thompson, Senior Client Partner
Email: warren.thompson@ coutts.com
Ms Camilla Stowell, Senior Client Partner
Mr Alastair Hunter, Chief Operating Officer
Ms Harriet Phillips, Private Banker
Mr Stephen Jackson, Senior Client Partner
Mr Neil Gordon-Lee, Business Partner
Mr Stephen Eggins, Senior Client Partner
2009
(£ million)
2008
(£ million)
4,500
3,200
Assets under
management:
YEAR FOUNDED
2005
NUMBER OF CLIENTS
SERVICES OFFERED
180
l
MINIMUM ASSET VALUE REQUIRED PER
CLIENT
£10,000,000
l
Coutts Private Office is the family office
division of Coutts & Co., and looks after
ultra-high-net-worth clients. The Private
Office was started in September 2005, with
£2.5 billion under management and this has
now grown in the second half of 2009 to
£4.5 billion. This is approximately 25% of the
total assets under management of Coutts in
the UK, which stood at £16.5 billion at the
end of the 2008 financial year. Clients qualify
for private office services if they have over
l
Mortgages
Private Equity; Offshore Funds; Equities;
Foreign Exchange; Fixed Income Funds
17

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