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Day: 16 August 2016

Julius Baer bolsters Latin American business

by: Cassandra Tanti
16/08/2016

Julius-Baer-BANKJulius Baer Group, Switzerland’s third-largest wealth manager, has hired several private bankers from HSBC Holdings to bolster its Latin American business, according to three reliable sources.

The bankers are based in Monaco and Switzerland, said one of the sources, asking not to be identified. More may be hired in Monaco, one of Julius Baer’s European hubs serving Latin American clients, said another person. Officials at Julius Baer and HSBC declined to comment to Bloomberg.

Julius Baer has acquired businesses and hired bankers to compete with larger wealth managers such as UBS Group and Credit Suisse Group. The firm has signed more than 200 client relationship managers from Credit Suisse and other Swiss, Asian and British private banks this year, CEO Boris Collardi said last month.

Albert Henriques also joined Julius Baer from HSBC as chief executive officer in Monaco.

HSBC is in the process of divesting a portfolio of Latin American client assets in Switzerland to Banco Santander as the British lender restructures its private bank, people familiar with the matter said last month that the deal may include $4 billion to $6 billion of assets under management, according to the people close to the deal.

 

'Bigger and better' Yacht Show

by: Cassandra Tanti
16/08/2016

Photo: Julian Fong
Photo: Julian Fong

The 26th Monaco Yacht Show, to be held from September 28  to October 1, is promising to be bigger and better with more luxury superyachts, for charter and sale, designers and yacht builders exhibiting than ever before, according to the organisers.
Set in Monaco’s iconic Port Hercule since 1991, the MYS is the only place to admire, visit and purchase around 120 extraordinary one-off superyachts built by the world’s most respected shipyards, the MYS says. Forty new launches are unveiled in world premieres at every edition.
Over 580 exhibiting companies and partners participate in the MYS, among the world’s leading luxury yachting companies: the trendiest superyacht builders, yacht designers, luxury manufacturers and the most important brokerage houses.
The Monaco Yacht Show is the one and only occasion in the year – and in the world – to discover the greatest of superyachting in the glamorous setting of Monaco. The show has the privilege of benefiting from the recognition and the support of His Serene Highness Prince Albert II of Monaco.

FIFA President dies at age 100

by: Cassandra Tanti
16/08/2016

Sepp Blatter and Joao Havelange Photo: Nationaal Archief Fotocollectie Anefo
Sepp Blatter and Joao Havelange Photo: Nationaal Archief Fotocollectie Anefo

Former FIFA president Joao Havelange has died at the age of 100, the BBC has reported. The Brazilian was predecessor to Sepp Blatter at world football’s governing body, serving from 1974 to 1998.
He resigned as FIFA’s honorary president in April 2013 following an investigation into bribery allegations and was admitted to hospital the following year with a lung infection.
He was an International Olympic Committee (IOC) member from 1963 until 2011, eventually resigning because of ill health.
“He had one idea in his head, to make football a global game with his slogan ‘football is the universal language’, and he succeeded,” said former FIFA president Sepp Blatter.
Havelange represented Brazil in swimming at the 1936 Olympics – the year he qualified as a lawyer – before his election to the IOC. As FIFA president, he led the World Cup’s expansion from 16 to 32 teams, with six competitions held under his tenure.
However, his career was also mired in controversy over bribery allegations. In 2010, a BBC Panorama investigation accused Havelange and son-in-law Ricardo Teixeira of taking millions of dollars in bribes from Swiss marketing agency International Sport and Leisure (ISL) to retain the company as FIFA’s sole official marketer.
 

Didier Deschamps surprises boy at birthday party

by: Cassandra Tanti
16/08/2016
Didier Deschamps, coach of France's national football team. Photo: mustapha_ennaimi
Didier Deschamps, coach of France’s national football team. Photo: mustapha_ennaimi

Didier Deschamps, no stranger to charitable efforts in the Principality, brought joy to one young fan of the French national football team on Sunday by turning up at a surprise birthday party for the seriously ill 13-year-old.

The French coach had responded to an invitation from the Monaco association “Friends of Lebanon Monaco” to join Renaud and his family at a Monaco coffee shop.

As special presents, Didier offered a gift of a shirt signed by all the French players and a football that he signed in the presence of the young fan.

French university costs on the rise

by: Cassandra Tanti
16/08/2016

french uniThe costs of a university life in France continue to rise at an unacceptable rate, according to the Unef union, which has called for concrete measures to alleviate the problems faced by young students.
The union is asking for more “social protection” for undergraduates and more investment in bursaries. The cost of accommodation for students, accounting for 55 percent of their total monthly outgoings, is of particular concern, Unef says.
Increased costs of lodging in 15 French university towns, together with higher transport costs, combine to make the life of students unacceptably high, the union claims. In Paris, rents for smaller flats are up by an average 1.38 percent over a year and by 0.5 percent in the rest of France. Six cities account for both an increase in rents and transport: Paris, Bordeaux, Lyon, Orleans, Besançon and Nice.