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Rich Families Cut Back On Buyout Firms For Direct Deals

Single-family offices are shifting from outside funds into direct investments because of declining fund returns and high manager fees.

Baird Adds Advisors With $970 Million In AUM


Baird, an employee-owned wealth management firm, is continuing its expansion by adding seven financial advisors with a total of $970 million in AUM and several new offices to its lineup.

A Team Approach To UHNW Issues

by Mike Byrnes

When working with rich clients, advisors have to know how to transfer wealth. But they also need to provide a total solution that encompasses life  management issues.

Aiming For The Ultra-Affluent

by Mike Byrnes

Experts at the Elite Wealth Management Conference share insight on understanding and providing better service to very wealthy clients.

HighTower Group Hires Advisor


Citi Private Bank and HighTower are among the firms with new hires.

Picasso's $8.5M Lovers Sell As VIPs Browse Frieze

A Pablo Picasso painting priced at $8.5 million was among early sales as billionaires browsed London's biggest Frieze Week.

Lovell Minnick To Buy Kanaly Trust


Lovell Minnick Partners LLC, a private equity firm, has agreed to buy Kanaly Trust, a wealth management firm with approximately $2 billion in assets under management.

Fortigent Adds To Technology Platform


Fortigent LLC is beefing up its technology platform for advisors who target high-net-worth clients.

Voth Appointed Pitcairn CEO


Leslie C. Voth, who has served as president of Pitcairn Company, has been appointed CEO of the multifamily office, succeeding Dirk Jungé, who will continue as chairman.

Julius Baer May Cut 1,000 Jobs After Buying Merrill Private Bank

Julius Baer Group Ltd. may cut more than 1,000 jobs after its purchase of Bank of America Corp.'s Merrill Lynch wealth management units outside the U.S.

Hedge Funds Cutting Trading Budgets Amid Slump, Survey Finds

Hedge funds are cutting trading costs amid a decline in volumes and muted performance for the $2.1 trillion industry, a survey found.

Former Celebrity Advisor Named GenSpring CEO


The former head of SunTrust Banks' sports and entertainment client division has been named CEO of GenSpring Family Offices.

Paulson Funds Said To Further Cut 2012 Losses Last Month

John Paulson, the billionaire hedge-fund manager coming off record losses in 2011, further pared declines in his Gold and Advantage funds last month, according to sources.

On The Move


Citi Private Bank and BNY Mellon have expanded operations and filled new positions.

Accounting, Reports Consume 1/3 Family Office Time, Study Says


Advisors at family offices spend nearly a third of their time in accounting and preparing reports for the wealthy families they service, according to a new study.

Famous People Need Not Apply As Ivy League Hunts For Presidents

Princeton University, Dartmouth College and Yale University are all searching for new presidents, fueling speculation that some top Washington officials may seek haven in the Ivy League.

Asian Real Estate Attracts UHNW Investors


Real estate may be a booming market for ultra-high-net-worth investors in Asia, according to a new study.

Minority-Owned Private-Equity Firms Beat Buyout Titans In Study

Private-equity firms that are diverse or minority-owned achieved higher gains than the broader industry, according to a report today by the National Association of Investment Companies.

JPMorgan CIO Leader Tse Said To Leave To Start Hedge Fund

Irene Tse, the former Goldman Sachs Group Inc. partner hired by JPMorgan Chase & Co. to help manage the bank's balance sheet while it boosted risk, is leaving to start a hedge fund.

Gundlach's $10M In Art Found As Suspects Charged

Jeffrey Gundlach, the CEO of DoubleLine Capital LP who had about $10 million in art stolen from his home in Santa Monica, California, two weeks ago, said all the works were recovered.

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