Wealth managers are seeing their margins drop to one percent of assets on mass affluent portfolios, according to a report by KPMG Consulting.
Account registers, suspicious transaction reports, and know your customer rules are expensive - for banks and their customers.
Now recession is biting, managers are finding that their much hyped risk management strategies aren't a great deal of use.
Savings, credit cards, mortgages - internet-based financial services company Egg is all about money. For FD Stracey Cartwright that means acquiring new customers at £25 a head, justifying a marketing spend of £50m to analysts, and, most of all, turning dotcom losses into break-even by the last quarter of the year.
The amount of laundering is now so huge - the International Monetary Fund estimates it at between 2% and 5% of world GDP - that thousands of businesses could be harbouring dirty money without realising it.
First-quarter GDP growth and earnings reports in the US weren't good - and markets are still relying on their monthly fix of lower interest rates from Alan Greenspan.
M A R K E T P L A C E
| Personnel 2000
The company provides comprehensive wealth management services to high net worth individuals and institutional clients. This position is based in the stunning Cayman Islands and will report directly to the Regional Director of Compliance. Responsibilities ...
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Actuary – Cayman Islands In this highly visible role the Actuary, reporting to the Deputy MD – Supervision, will ensure the integration of capital modeling into the risk management framework and will provide analytical support ...
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Applicants must hold a Bachelors Degree and a professional qualification (CA/CPA/CFA) with no less than 2 years experience gained in the hedge fund and mutual fund industry. Responsibilities include: • Managing brokerage account cash flows ...
more > | Personnel 2000
Candidates must hold a professional qualification (ACA/CA). JIEB or CPI designation would be a definite advantage. 1 to 2 years of experience gained with Big 4 firm or boutique insolvency/recovery firm. Experience dealing with fraud ...
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