The legal spat is likely to fan the flames of public anger at a time when high inflation, rising job losses and sharp government spending cuts eat into the livelihoods of Britons asked to bail out the banking sector in the 2008 credit crisis.
Jennifer Manser, head of marketing and communications at New York-based Schroders, said the firm decided to go with JCPR after interviewing multiple agencies.
The Iveagh funds will offer investors access to the investment team managing the private portfolios of key members of the Guinness family, including Lord Iveagh. To date investors have put £215m into the funds.
British asset managers suffered a wave of withdrawals in the final three months of last year, as clients fretting about a deepening euro zone crisis and choppy financial markets trimmed exposure to investment funds.
The crisis of 2008 and the economic recession following it affected the perception investors have about wealth managers and financial services providers, leading to lower levels of trust. Therefore firms have to be more proactive and dynamic with their cu
Tough times are continuing at the Securities division of merchant banking group Close Brothers, but the Banking division continues to do well, with good growth in the loan book.
Mr Rowsell – who has 28 years’ experience in private banking – joins Barclays Wealth from Coutts & Co, where he was instrumental in helping to establish and develop its regional business in South Wales over the past 13 years.
This latest hire is part of SEI’s business expansion, in response to significant interest from global banks, insurance companies and large wealth managers.
The symposium, which is being organised by Liverpool office partner and Intermediary director Mark Ewer, will see seven keynote speakers address delegates on issues including technology, equity funds, hedge funds and emerging markets.