A network of 12 foundations spread across France, Spain, USA and Israel is at the pivotal point of transitioning from a traditional charity giving approach to strategic philanthropy.
Kiwibank did not disclose the acquisition price, but said GMI has more than NZ$1.5 billion ($1.2 billion) under management from more than 57,000 customers.
HNWIs are people with $1 million in investable assets. Their total wealth has climbed by more than 14 percent since 2007 despite the financial crisis in 2008. In Asia-Pacific, their ranks swelled by 9.7 percent in 2010.
The bank's co-head of Asian economics now forecasts another three cuts to China's banking reserve requirements by July, inviting lenders to keep back less of the money they take in deposits and so boost growth in credit.
Axa reviewed several options and its strategy in Asia after the transaction, and decided to close the Ipac Hong Kong and Singapore offices, said Nikki Quinn, a project manager with Axa. The size of Axa's life insurance business doubled after the tran
Gold will soar to $2,000 (£1,300) an ounce this year, according to industry insiders.
The previous best sales record was set in 1978, the heyday of the Silver Shadow II, which was also during the depths of an economic winter.
AmFamily Takaful Bhd (AmTakaful), which began operations today, is the country's 12th licensed takaful operator.
Figures from research company Wealth-X show Perth is currently home to the fourth-highest concentration of ultra-wealthy in Australia, behind Sydney, Melbourne and Brisbane.
According to a new study, the number of billionaires in India dropped by more than 30% in 2011. Press reports blamed the drop on the country’s stock market, which fell by 40% last year.