Summit Notebook

No more musical chairs in banking industry-Merrill exec

October 15, 2008

rahul.jpgAs global markets rallied over the past five years, talent in the private banking industry had become a heavily fought over commodity. Rain makers, top bankers and entire teams were poached constantly by rival organizations who offered top dollar for the move.

Hedge funds get that shrinking feeling

October 14, 2008

rtr1yerw.jpgThere’s no shortage of commentators lining up to opine on how much the troubled hedge fund industry is likely to shrink as the credit crisis unfolds.

We’re in this mess now, so stop moaning!

October 14, 2008

rtr58um.jpgRegulation is a word bankers love to hate.

But according to Sebastian Dovey, managing partner of wealth management consultancy Scorpio Partnership, they need to spend less time moaning about it and more time working with regulators to communicate the benefits of the industry.

Audio – Kuwait Finance House sees silver lining in downturn

October 14, 2008

lim-boh-soon.jpg Lim Boh Soon, chief executive officer of Kuwait Finance House in Singapore said at the Reuters Wealth Management Summit that he sees the period of downturn in the global economy lasting 18-24 months.

Obama has support among the wealthy

October 13, 2008

feurtado.jpgBarack Obama may be looking to boost marginal tax rates for the wealthiest 5 percent of Americans, but that doesn’t mean the wealthy are shunning the candidate, said Richard Feurtado, BlackRock’s head of wealth management in the account management group.
In fact, about 50 percent of BlackRock’s ultra-high net worth clients are Obama supporters, Feurtado said at the 2008 Reuters Wealth Management Summit in Boston.
“People do things for all sorts of reasons, and maybe one of them is financial, but there are many other reasons for people voting in certain ways,” Feurtado said.

A philosophical look at the habits of the super-rich

October 13, 2008

rtx8vgi.jpgThe credit crisis may be hitting the man on the street hard, but spending by the “other half” on the latest super yacht or Damien Hirst work of art looks set to carry on relatively unaffected.

Audio – Not just a U.S. problem

September 17, 2008

buzz1.jpgThe problems at U.S. automakers have many obvious effects on the national, state and local economies in the United States, but those effects are felt in Canada as well and they have left one long-time industry observer fearful.

Audio – Why help Detroit?

September 17, 2008

tim1.jpgAs with most issues, there are two sides to this one as well. and both were heard this week at the Reuters Autos Summit in Detroit.

Audio – Fritz Henderson: Raw!

September 17, 2008

henderson2.jpgOK, that headline might be a little bit misleading for a posting about the difficulty of predicting raw materials prices, but it catches the eye.

Audio – But who knows where or when …

September 17, 2008

mulally4.jpgIt’s an old song of course, made famous during World War II, but the sentiment rings true for the U.S. auto industry these days.