Indices: FTSE takes ABN further
A new series of private banking indices is to be launched this month, replacing those ABN Amro established in May.
Ariel Salama, then head of private banks coverage in ABN’s wholesale clients division, developed the idea but left in the autumn to run the business through Private Banking Index Limited. Now, with the backing of FTSE, it is hoped that the fact the indices will be run by a neutral third party will attract more private banks. The involvement of FTSE is also expected to be an attraction. Indeed the FTSE Private Banking index has already signed up twice as many members (30) as its predecessor.