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RBC Wealth Management-U.S. has attracted a team managing $500 million in assets from UBS in Syracuse, New York. Led by Thomas G. Austin and Ryan J. Smith, the move reflects RBC's strategy to recruit top talent amid UBS's recent broker attrition, which has seen a 3% decline in its Americas workforce.
Deutsche Bank AG has initiated stabilization measures for Anheuser-Busch InBev’s bond offering, which includes 8-year, 13-year, and 20-year fixed securities, with the stabilization period running until June 30, 2025. The bond pricing is expected to be mid-swap plus 125 basis points for the 8-year, plus 160 for the 13-year, and plus 200 for the 20-year bonds. The securities are targeted at qualified investors outside the UK and will not be registered under the U.S. Securities Act of 1933, prohibiting public offers in the United States.
UBS has implemented a new monitoring system to track employee attendance in the office, requiring staff to be present at least three days a week. While the bank claims this initiative aims to enhance collaboration, many employees are concerned about potential impacts on their bonuses. This move reflects a broader trend among companies tightening home office policies amid ongoing debates about remote work.
UBS has appointed Lin Reynolds as a Private Wealth Advisor in its Manhattan office, where she will focus on advising ultra-high-net-worth clients on asset allocation, investment strategies, and wealth transfer. Previously an Executive Director at J.P. Morgan Private Bank, Reynolds brings over nine years of experience in wealth management and is fluent in Mandarin. She holds a BA in Sociology and Economics from Lake Forest College and a Master's in Economics from American University.
Deem Finance has secured a $400 million asset-backed securitization in partnership with J.P. Morgan to enhance its lending capabilities for consumers and SMEs. This transaction diversifies Deem's funding sources and supports its growth strategy, contributing to the UAE's financial ecosystem. The collaboration underscores the importance of access to credit for underserved communities in the region.
A team generating $4.5 million in annual revenue at Cresset Capital has joined UBS Wealth Management USA, returning to a larger firm after managing $880 million in client assets. Led by Peter C. Sherlock, Gus B. Spaulding, and Chase A. Rodawig, the team will operate from UBS’s Denver Tech office. This move aligns with UBS's strategy to enhance profit margins amid a broader restructuring of its U.S. operations.
Global oil supply is projected to exceed demand by over 1 million barrels per day in 2025, driven by increased production from non-OPEC+ countries. Major banks forecast Brent crude prices averaging between $73.00 and $76.00 per barrel, with geopolitical events and OPEC+ decisions likely influencing market volatility. Traders should focus on risk management and monitor key market indicators to navigate the anticipated supply surplus and price pressures.
China's yuan is projected to weaken to record lows as U.S. tariff threats escalate, with major investment banks forecasting an average of 7.51 per dollar by the end of 2025. The yuan's depreciation poses challenges for Chinese authorities, who aim to stabilize the currency while reviving the economy. The People's Bank of China is expected to implement measures to prevent excessive declines, balancing currency control with economic growth.
Investing in the health care sector offers potential benefits such as consistent earnings, lower volatility, and portfolio diversification. However, investors should be aware of risks including regulatory challenges, clinical trial uncertainties, and the possibility of underperformance compared to other sectors. Key trends like GLP-1 weight loss therapies and an aging population present opportunities for growth in this dynamic industry.
Stefan Bollinger has been appointed as the new CEO of Julius Baer, set to take over on January 9, 2025. He joins from Goldman Sachs, where he was Co-Head of Private Wealth Management EMEA, bringing extensive international experience from his 20 years at the firm and previous roles at J.P. Morgan. Bollinger succeeds Philipp Rickenbacher, who resigned in February following significant losses linked to credit exposure in the Signa Group.
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RBC Wealth Management attracts UBS team managing 500 million in assets
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investing in health care opportunities risks and market dynamics to consider
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Julius Baer appoints Stefan Bollinger as new CEO starting January 2025
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