Titanium’s sales performed fairly well in November. PE continued its good sales, and in December the fund’s size will exceed the 20 MEUR level. There’s no need to worry about redemptions from the interest rate fund, because 1) the fee level is low and 2) this capital has probably gone into a new short-term interest rate fund.
The company also officially launched its new wealth management model yesterday. On the surface, the model holds no major surprises, and it corresponds quite well to our previous expectations. Titanium certainly doesn’t need to reinvent the wheel here; rather, a very basic, cost-effective, and clear wealth management service is what the company needs at this point. Now, of course, the big question is how the company’s organization is able to sell this. Historically, the company has been a product house, and the transition from this to a wealth manager is not entirely easy. I would still hope that Titanium would recruit a bunch of top-tier bankers in the coming months, as these individuals would help implement a wealth management culture within the organization. I would also hope the new CEO to be from a wealth management background. Of course, there are several relevant candidates, but a few that come to mind are, for example, Eriksson, who recently left Aktia, Alexandria’s Deputy CEO Lundström, or Purhonen from UB’s management team (also former head of Taaleri WM).
What thoughts do forum members have about that wealth management model? 