wealth management

 Following the successful launch of its joint venture, Morgan Stanley Smith Barney today announced it will look to grow its advisor population that focuses on ultra-high net worth clients through a dedicated effort branded under the Morgan Stanley Private Wealth Management name. 

 According to some sources over ¼ of the personnel at the Singapore office of private bank RBS Coutts have resigned from the company and joined Swiss rival BSI. Meantime, RBS Coutts, part of Royal Bank of Scotland Group Plc, reported on Tuesday that "a little over 70 people" had left the bank.

A few moths earlier Hanspeter Brunner, former co-CEO of RBS Coutts, and Raj Sriram, head of its South Asia unit, decided to resign from the wealth manager. Both are joining BSI and some staff will join them.

 Bank of America Corp announced its plan to spend $20 million in the fourth quarter of 2009 to relaunch Merrill Lynch's name and long-time bull logo. Now the former Merrill Lynch and & Co's operations will be known under the brand Merrill Lynch Wealth Management being one of the two primary units in Bank of America's Global Wealth and investment Management division, Sallie Krawcheck, the division's president, told a press conference.

Deutsche Bank Private Wealth Management (PWM) added four new employees to the firm's US Private Wealth Management group. The additions include four Managing Directors, Joanne Jensen, Pat Janco, Becky Creavin and Jennifer Shaw, who will be located in Deutsche Bank's Park Avenue office in New York. All four will report to Chip Packard, Head, U.S. Private Bank - Eastern Region.