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Merrill aims products at Europe’s ultra rich
The closure of some European operations is part of Merrill Lynch’s emphasis on cost reduction and product sales, but clients also require long-term commitment.
Merrill Lynch, which recently pulled out of the German onshore private banking market, recently announced record quarterly earnings. Crucially, it is these cuts and efficiency measures, part of an ongoing reorganisation, which are driving the bank’s performance.
Finding top talent will be banks’ biggest challenge
Fund selectors for hedge funds must develop superior skills, says Pictet.
GSAM bets on financial sector
Credit Suisse and Crédit Agricole top Goldman’s specialist fund holdings.
Company briefs
RMB names managers for multi-manager Sicav fund
Axa, UBS and JPMorgan Fleming have been selected for a new multi-manager Luxembourg-based fund launched by RMB International. The open-ended Sicav fund will encompass five equity compartments, one fixed income and five hedge funds. Other managers include Gartmore, T Rowe Price, State Street, BGI and Vontobel.
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