RJ and Makay

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Bloomberg has surveyed more than 1000 money management firms worldwide to come up with the top 50 family-office firms by assets.  Using a database obtained from Family Office Group of Portland Oregon, the firms were requested to exclude funds managed for pensions and other institutions but include those of private foundations.  Ranked offices provided comprehensive investment and non-investment services to multi-generational families.

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HSBC Holdings PLC announced it could cut about 30,000 jobs worldwide by 2013 as the bank plans to exit from some retail markets, although hiring in other parts of the company will make the net job losses much smaller, according to the company.  Chief executive Stuart Gulliver said that 5,000 jobs are being eliminated in the U.S., U.K. France, Latin America and Middle East, and the lender plans to cut another 25,000 jobs during the next two years.

The House Democratic Steering and Policy Committee has appointed Congressman John Carney (D-DE) to serve on the House Financial Services Committee. The Financial Services committee is responsible for all aspects of the U.S. financial services sector including banking, securities, insurance, real estate, and housing.

"With over 50% of publicly traded corporations and 60% of Fortune 500 companies incorporated in Delaware, the issues within the Financial Services Committee's jurisdiction are of paramount importance to my district," says Congressman Carney. "For more than three decades, Delaware's at-large representative has had the privilege of serving on the House Financial Services Committee and its predecessor, the House Banking Committee. I’m honored to be continuing that long tradition in the 112th Congress."