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Capital Markets Asset Management and Custody Banks

  • NEW YORK, Jan 19- A lawyer for a portfolio manager at Visium Asset Management LP urged jurors on Thursday to acquit him of charges that he fraudulently sought to inflate the valuation of a bond fund, telling them he had no incentive to do so. In his closing argument in Manhattan federal court, lawyer Eric Creizman challenged prosecutors' claims that greed drove...

  • Jan 19- The following financial services industry appointments were announced on Thursday. Privately owned investment solutions provider Fidelity International appointed Jackson Lee as country head in China. European asset manager Legal& General Investment Management has strengthened its Bespoke Solutions unit with two senior appointments.

  • NEW YORK, Jan 19- U.S. Manufacturing activity in the Philadelphia area also grew faster than expected in January, the Federal Reserve of Philadelphia said. "This morning we had some economic news which came out stronger than anticipated," said Gary Pollack, head of fixed-income trading at Deutsche Bank Private Wealth Management in New York.

  • DAVOS, Switzerland, Jan 19- Asset management giant BlackRock and chemical major Dow Chemical praised Saudi Arabia on Thursday as the kingdom said it was pressing ahead with reforms and investments beyond oil. It is as good as anywhere we invest, including the United States, "Dow Chemical Chief Executive Andrew Liveris told a panel devoted to Saudi Arabia at the...

  • The world's largest custodian bank's net income attributable to common shareholders rose to $822 million in the three months ended Dec. 31 from $637 million a year ago. Total revenue rose 1.75 percent to $3.79 billion but missed analysts' average estimate of $3.85 billion. Assets under management was $1.65 trillion as of Dec. 31, lower than $1.72 trillion as of...

  • The world's largest custodian bank's net income attributable to common shareholders rose to $822 million in the three months ended Dec. 31 from $637 million a year ago. Earnings per share increased to 77 cents from 57 cents. Assets under management was $1.65 trillion as of Dec. 31, slightly lower than $1.72 trillion as of Sept. 30.

  • WASHINGTON, Jan 19- President-elect Donald Trump's choice for Treasury secretary, Steven Mnuchin, will defend his banking record in the aftermath of the financial crisis on Thursday and sell senators on why he should be given stewardship of the U.S. financial system. Mnuchin, a former Goldman Sachs executive, hedge fund manager and Hollywood film financier,...

  • Powerful firms such as Citadel LLC and Millennium Management LLC charge clients for such costs through so-called "pass-through" fees, which can include everything from a new hire's deferred compensation to travel to high-end technology. Clients of losing funds last year, including those managed by Blackstone Group LP's Senfina Advisors LLC, Folger Hill...

  • WASHINGTON, Jan 19- President-elect Donald Trump's choice for Treasury secretary, Steven Mnuchin, will defend his banking record in the aftermath of the financial crisis on Thursday and sell senators on why he should be given stewardship of the U.S. financial system. Mnuchin, a former Goldman Sachs executive, hedge fund manager and Hollywood film financier,...

  • Powerful firms such as Citadel LLC and Millennium Management LLC charge clients for such costs through so-called "pass-through" fees, which can include everything from a new hire's deferred compensation to travel to high-end technology. Clients of losing funds last year, including those managed by Blackstone Group LP's Senfina Advisors LLC, Folger Hill...

  • The investment manager developed by UK pension funds to invest in UK infrastructure, appointed Tony Poulter as chairman. The company appointed Phil Roberts to lead investment banking in EMEA, and Phillip Hall to head the structured finance business in the region. The global advisory, broking and solutions firm named Mike Liss as head of its corporate risk and...

  • BOSTON, Jan 18- A small Boston- area hedge fund operation on Wednesday was accused of running a Ponzi scheme that included spending investor money on liquor, luxury hotels and specialty cars, according to a complaint by the top securities regulator in Massachusetts. Alleged victims of MC2 Capital of Cambridge, Massachusetts included an unnamed institutional...

  • BOSTON, Jan 18- A small Boston- area hedge fund operation on Wednesday was accused of running a Ponzi scheme that included spending investor money on liquor, luxury hotels and specialty cars, according to a complaint by the top securities regulator in Massachusetts. Secretary of the Commonwealth William Galvin said he has moved to bar three hedge funds and...

  • SMALL BOSTON-AREA HEDGE FUNDS FACE ALLEGATIONS INVESTOR MONEY SPENT ON LIQUOR, LUXURY HOTELS AND CARS- MASSACHUSETTS REGULATOR.

  • The investment manager developed by UK pension funds to invest in UK infrastructure, appointed Tony Poulter as chairman. The global advisory, broking and solutions firm named Mike Liss as head of its corporate risk and broking business in North America, effective immediately. The fixed income manager appointed Timothy Ash to the newly created role of...

  • BOSTON/ BEIJING, Jan 18- The hedge fund investment firm founded by Anthony Scaramucci said it will sell a majority of itself to RON Transatlantic EG and an arm of Chinese aviation and tourism conglomerate HNA Group, four days after Scaramucci took a position in President-elect Donald Trump's administration. For HNA Group, which announced about $20 billion of...

  • *Sees Donald Trump as biggest risk in 2017. TOKYO, Jan 18- A rally in global stock markets in the past few months is being driven more by improving economic fundamentals than by expectations of more U.S. fiscal stimulus under President-elect Donald Trump, a chief investment officer of Dutch asset management firm Robeco said. To the contrary, uncertainty over...

  • HONG KONG, Jan 18- Asian stock markets stabilized near three-month highs on Wednesday, helped by Hong Kong and Chinese shares, as investors judged U.S. The firmness in Asia is expected to extend to Europe with stock futures in key European markets pointing to a higher start. "Trump's comments on the dollar has helped relieve downward pressure on the renminbi and on...

  • Stock markets in Hong Kong and China led the gains. "Trump's comments on the dollar has helped relieve downward pressure on the renminbi and on Chinese equities and we have seen a steady pick up in capital flows from mainland investors into Hong Kong stocks," said Alex Wong, a portfolio manager at Ample Capital with $100 million in assets under management.

  • Jan 13- Citadel Securities, the market-making arm of billionaire hedge-fund manager Ken Griffin, has agreed to pay $22.6 million to settle charges that it misled customers about the way it priced trades, the U.S. Securities and Exchange Commission said on Friday. "This affected millions of retail orders," said Stephanie Avakian, the acting director of...