https://images.fnlondon.com/im-12663682?size=1.5

UBS promotes Mercier in top UK wealth role after earlier reshuffle

Wealth Management

Investment Banking Editor

https://images.fnlondon.com/im-12663682?width=1280&size=1.499

UBS has named a new head of its UK global family and institutional wealth unit following a  shake up of its team in June. 

Francois-Olivier Mercier has been named permanent head of the unit, having taken the role on an interim basis after a series of changes to UBS’s UK wealth team, according to a memo seen by 

The Swiss bank has seen a number of departures in its UK wealth division in recent months

Paul Clarke

Banking

Finance

Why wealth firms are flocking to ‘buzzing Milan’

Wealth firms, private banks giddy about Italian onshore push: ‘Milan is buzzing’

Meet the best of wealth management, SJP’s new fees

Milbank hires private equity M&A rising star in Germany

https://images.fnlondon.com/im-43406752?size=1.5

Coutts hires ex-JPMorgan banker James Todd as next private client boss

https://images.fnlondon.com/im-95923804?size=1.42

Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

Senior GIC private equity lawyer joins Dechert in London

https://images.fnlondon.com/im-14432569?size=1.5

US law firm hires private equity specialist from key client

The lender forecast total income excluding notable items to exceed $21.61 billion as loan growth and structural hedges continue to mitigate the impact of interest-rate cuts.

NatWest Raises Outlook, Launches Buyback After Strong Quarter

The president turned a rare visit to the U.S. central bank into political theater that included hard hats and a back slap.

Trump Says He Won’t Fire Powell Despite Bout of Bickering Over Renovation Costs

Company points out early progress on robotaxis and bots, as revenue from electric vehicles plummets.

Elon Musk Tells Tesla Investors to Focus on a Future Filled With Robots

The leaders of America’s chip giants cheered the president’s artificial intelligence orders, which could help boost the domestic semiconductor industry.

Nvidia, AMD CEOs Rally Behind President Trump’s AI ‘Action Plan’

The Davos founder rejected preliminary findings of misconduct, including improper travel expenses and gifts.

By Jenny Strasburg and Shalini Ramachandran

Probe of Davos Founder Finds Unauthorized Spending, Inappropriate Behavior

CME Group’s second-quarter earnings and revenue rose sharply as the derivatives-exchange operator benefited from a surge in trading activity due to market volatility.

CME Earnings Surge on Volatility, Increased Trading

The Italian bank lifted earnings and shareholder-distributions guidance after reporting better-than-expected profit, looking to turn the page on its aborted takeover bid for its smaller peer.

UniCredit Upgrades Guidance After Dropping Banco BPM Deal

The Wall Street firm is being investigated over whether it properly vetted its clients for money-laundering risks.

Morgan Stanley’s Screening of Wealth-Management Clients Draws More Scrutiny

When team leaders provide their opinions first, it can discourage lower-level employees from providing dissenting views or alternative ideas.

Bosses Should Never Speak First, or Even Second, in a Meeting

U.S. stock futures pointed to a flat open after a mixed session on Wall Street Monday, while international equity markets were also mixed so far Tuesday as earnings season sweeps into full gear.

Global Markets Mixed as Earnings Pick Up Pace

‘All-In,’ which hosts cabinet secretaries and senators, is scheduled to have an appearance by President Trump at a conference Wednesday.

Silicon Valley’s Favorite Podcast Is Now Hot in Washington Too

The lender reported a sharp decline in net profit due to a one-off hit related to the sale of its Brazilian subsidiary and an increase in loan loss allowances.

Julius Baer Profit Falls on Higher Loan Provisions, Brazil Unit Sale

Julius Baer’s Net Profit Falls on Higher Loan Provisions, Brazil Unit Sale

The Stargate venture, unveiled at a White House event, is now setting the more modest goal of building a small data center by year-end.

SoftBank and OpenAI’s $500 Billion AI Project Struggles to Get Off Ground

It issued an alert about “active attacks” targeting its server software and urged customers to install new security updates that have been released.

Microsoft Alerts Firms to Server-Software Attack

The biopharmaceutical company said the investment includes plans for a new manufacturing center focused on chronic diseases.

AstraZeneca Plans to Invest $50 Billion in U.S. by 2030

SS&C Technologies Holdings has struck a deal to buy funds network operator Calastone from private-equity firm Carlyle Group for roughly $1 billion.

SS&C Technologies to Buy Calastone From Carlyle for About $1 Billion

Consumers are spending again after the spring’s tariff chill. But some expect growth to be slow.

The U.S. Economy Is Regaining Its Swagger

The European Union still wants a deal, but with U.S. demands growing, the bloc is getting ready to push back.

Sales of $10 million-plus paintings have collapsed as high interest rates have flushed speculators out of the market.

The Worst Performer in Billionaires’ Portfolios? Trophy Art.

Chinese authorities have placed an exit ban on a China-born executive after she entered the country recently. The bank has suspended travel to China.

China Confirms It’s Blocking Departure of U.S.-Based Wells Fargo Banker

U.S.-Based Wells Fargo Banker Blocked From Leaving China

Erica Williams to depart auditing watchdog July 22 at request of SEC chairman.

PCAOB Chair, in Last Days, Warns Against Potential for Budget Slashing

The bond manager hasn’t adjusted its portfolio saying it seems unlikely the president will get his way.

Bond Giant Pimco Dismisses Trump’s Threats to Fed’s Powell

ChatGPT tells me I’m thoughtful and wise, and write as well as a Nobel Prize winner. An ego-boost like that is worth $20 a month.

Is It Bad That I Desperately Need My Chatbot’s Approval?

Jittery markets are swelling trading revenue and profit, prompting banks to put more money to work on Wall Street.

Big Banks Are Spinning Market Chaos Into Gold

Politicians often want lower rates. Central banks seek stable prices.

What History Tells Us About the Perils of Firing Jerome Powell

Now that AI is screening résumés, it’s time to rethink that commandment about fitting all your work experience onto a single page.

It’s Time to Rethink the One-Page Résumé

Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve’s credibility.

Dimon Defends Fed Independence After Trump Attacks

Temperatures have been rising since the world’s oldest underground transportation system opened in 1863, presenting challenges that air conditioning can’t easily fix.

The London Tube ‘Feels Like Hell.’ Efforts to Cool It Just Make It Hotter.

Aircraft and booze are among imports that would be targeted as EU debates how to respond to President Trump’s latest trade threats.

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached

The four-day minimum requirement will begin in the new fiscal year, and some leaders will have to relocate to Seattle or Toronto within 12 months.

Starbucks Tells White-Collar Workers to Come to the Office More—Or Take a Buyout

JPMorgan, Wells Fargo lead the banks whose quarterly results may offer clues on how consumers and companies fared during a volatile period. The S&P 500 climbed 0.1%, and the Nasdaq rose 0.3% to a record.

Financial Stocks Rise Ahead of Busy Week for Earnings, Inflation Data

The bank put $50 billion toward lending to riskier companies to compete with nonbank giants dominating the market. The Walgreens deal was the payoff.

Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It

More men than women are back in their cubicles, but remaining remote comes with risks. “It creates that barrier.”

In America’s Return to the Office, Women Are Falling Behind

Mexico and Europe are grappling with how to respond to a U.S. administration that is using trade policy for a range of political and economic objectives.

Nations Find That Neither Anger Nor Appeasement Deflects Trump’s Tariff Threats

Continuation vehicles were once used by “zombie funds” but now usually contain top-performing companies.

The Private-Equity Maneuver Allowing More Investors to Cash Out

The short-term rental company now enables guests to book services at its properties. But hosts worry about liability—and not getting a cut.

Airbnb Lets You Add a Private Chef to Your Rental. Your Host Might Not Like It.

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