Capital Markets Asset Management and Custody Banks

More

  • Oct 22- Investment bank and asset manager Lazard Ltd reported a better-than-expected quarterly profit, helped by a rise in advisory fees related to mergers and acquisitions. Lazard advised on high-profile deals such as Heinz's combination with Kraft Foods to form Kraft Heinz Co and AT&T Inc's $67.1 billion acquisition of DirecTV. Net income attributable to...

  • Asset manager Lazard's profit beats Wall Street view Thursday, 22 Oct 2015 | 7:02 AM ET

    Oct 22- Investment bank and asset manager Lazard Ltd reported a better-than-expected quarterly profit, helped by a rise in M&A advisory fees. M&A and other advisory fees rose 19.4 percent to $288 million in the third quarter ended Sept. 30. The company's adjusted net profit rose 40 percent to $124 million, or 93 cents per share, from a year earlier.

  • BOSTON, Oct 21- A precipitous plunge in the stock price of Valeant Pharmaceuticals International Inc cost some of Wall Street's top names billions of dollars on Wednesday but hedge fund manager William Ackman took the meltdown as a buying opportunity. Pershing Square Holdings confirmed late on Wednesday that the company acquired in excess of two million...

  • Delaware judge rules against hedge funds in BMC buyout Wednesday, 21 Oct 2015 | 6:51 PM ET

    WILMINGTON, Del, Oct 21- A Delaware judge on Wednesday rejected hedge fund Merion Capital's attempt to wring an extra $150 million from the 2013 sale of BMC Software Inc by going to court and arguing that a fair deal price should have been much higher. The case stemmed from the sale of BMC to a consortium including Bain Capital and Golden Gate Capital for $46.25 per...

  • Oct 21- Donald Trump's possibly market-lagging stewardship of the fortune he inherited illustrates in a bizarre way the attractions of active wealth management. Property mogul, celebrity and presidential candidate, Trump by some accounts, not his own, appears to have failed to keep pace with market gains since he inherited $40 million in 1974..

  • ZURICH, Oct 21- Credit Suisse plans to raise 6 billion Swiss francs from investors, slim down its investment bank and cut jobs as new chief Tidjane Thiam embarks on the biggest overhaul of the Swiss bank in almost a decade. Credit Suisse is emphasizing wealth management and growing in Asia, echoing moves by rival UBS. Thiam, 53, hired from insurer Prudential, also...

  • *Credit Suisse gives strategy update under new CEO. ZURICH, Oct 21- Credit Suisse has set out plans to raise 6 billion Swiss francs from investors, slim down its investment bank and cut jobs as new chief Tidjane Thiam detailed the biggest overhaul in almost a decade at the Swiss bank. Credit Suisse is emphasizing wealth management and growing in Asia, echoing moves...

  • *Credit Suisse gives strategy update under new CEO. ZURICH, Oct 21- Credit Suisse has set out plans to raise 6 billion Swiss francs in fresh capital, as new chief executive Tidjane Thiam boosts the Swiss bank's financial strength to underpin its biggest overhaul in almost a decade. Credit Suisse is emphasizing wealth management and growing in Asia, while...

  • RIO DE JANEIRO, Oct 20- Brazil's giant offshore subsalt oil and gas areas will only break even with oil worth $55 a barrel or more, Oswaldo Pedrosa, chief executive of state-owned oil-asset management company Pre-Sal Petroleo SA, said on Tuesday. The $55 a barrel figure is 14 percent higher than the current benchmark Brent crude oil price and 22 percent higher than...

  • BOSTON, Oct 20- Hedge funds suffered their biggest quarterly loss in assets since the financial crisis during the three months that ended in September, data released on Tuesday showed, putting the industry on track for its worst year since 2008.. The secretive industry that caters to wealthy investors, including pension funds and endowments, saw assets shrink...

  • NEW YORK, Oct 20- Two exchange-traded funds launched in the United States on Tuesday will provide investors with access to China's onshore stock market while tamping down swings in the yuan. After a year that saw the unexpected slide of the Chinese yuan slice into foreign investors' returns, the two funds become the first so-called currency-hedged ETFs to track...

  • The secretive industry that caters to wealthy investors, including pension funds and endowments, saw assets shrink by $95 billion, or 3.9 percent, to 2.87 trillion in the third quarter, research and tracking firm Hedge Fund Research reported. Meanwhile, net inflows amounted to $5.6 billion, compared with the $21.5 billion added during the second quarter and the...

  • SAN FRANCISCO, Oct 19- As California's pension funds discuss divesting from investments in coal companies, a consultant warned on Monday that past efforts to divert CalPERS' money away from investments deemed unethical have cost the largest U.S. public pension fund between $4 billion and $8 billion. In the past, CalPERS has pulled cash out of tobacco and...

  • CANADIAN OIL SANDS CEO EYES INTEREST FROM PRIVATE EQUITY, PENSION FUNDS, INT'L OIL COS.

  • LONDON, Oct 19- Hedge funds have unwound most of the record short position they established in U.S. crude futures and options between June and August amid signs that the oil market is rebalancing. Reported shorts had been reduced from 108 million barrels the previous week and a peak of 163 million barrels in early August, according to the U.S. Commodity Futures...

  • NEW YORK, Oct 16- Assets in fixed-income exchange traded funds crossed the half-trillion dollar mark for the first time this week, BlackRock Inc said Friday, despite the looming threat of rising interest rates. Bond ETFs listed around the world totalled $500.3 billion in assets under management by the close of trade on Thursday, according to BlackRock, the...

  • *Assets slid from $1.4 bln to less than $500 mln. LONDON, Oct 16- U.S. asset manager Principal Global Investors is to shut London- based hedge fund investment firm Liongate Capital Management after fee-conscious investors withdrew too much money from its funds. Liongate, which ran $1.4 billion at the time Principal took a majority stake in 2013, had less than $500...

  • Why Australia's IAG threw in the towel on China Friday, 16 Oct 2015 | 6:39 AM ET

    SYDNEY, Oct 16- When Insurance Australia Group, the country's largest general insurer, announced ambitious plans in June to ramp up its business in mainland China, several institutional investors including Jason Kim were seriously concerned. Kim, a portfolio manager at Nikko Asset Management which owns about A $143 million worth of IAG shares, asked the board...

  • NEW YORK, Oct 15- Stock and corporate bond funds pulled in $5.5 billion in new money from investors in the week that ended Wednesday, according to data from Lipper on Thursday. Investors poured $2.5 billion into U.S.-based stock mutual funds and exchange-traded funds after the category posted $8 billion in outflows the prior week. Greg Peters, who helps manage...

  • SAN FRANCISCO, Oct 15- Most California cities support a new strategy by the nation's largest public pension fund to make its investment portfolio more conservative, even though the move could gradually increase how much employers pay into the fund. The League of California Cities surveyed its members, which have been struggling to shoulder the burden of...