The operating income of 200 global wealth managers saw an average rise of just 0.04% in 2016, even though assets under management rose some 4% during the year, according to consultancy Scorpio Partnership.
The wealth management consultancy's Global Private Banking Benchmark report also revealed that cost/income ratios fell below 80% for the first time since 2012, amid a push to cut costs by private banks...
To aid regulatory reporting
Has run Cautious Managed fund since 2011
Expected in next few weeks