The group has created independent wealth management units for Western Europe, Eastern Europe and the Middle East. This will come with 500 layoffs among the 23,000 worldwide wealth management employees.
Asset News has caught up with Jennifer Wu, global head of sustainable investing at J.P. Morgan Asset Management.
According to the AMF’s 2018 figures, asset managers’ operating profit fell by more than 10%, but their operating margin is still above 20%.
For the second edition of its Swiss Asset Managers, the Asset Management Platform Switzerland (AMP) surveyed 39 investment firms managing around CHF2trn in assets.
Melbourne-headquartered group National Australia Bank is said to have chosen Paris to relocate its European hub from London after Brexit, Asset News can report.
Co-founders Julien Sevaux, Tarek AbuZayyad and CIO Edward Clive recently started Eighteen48 Partners, which has already secured $600m assets under management (AuM).
Morningstar data reveals that in the UK, men named David run more funds than all women fund managers put together, highlighting the industry’s deep-rooted gender disparity.