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Capital Markets Asset Management and Custody Banks

  • ALMATY, March 15- Kazakhstan's state-run "bad bank" will buy 2.4 trillion tenge of bad loans from Kazkommertsbank, the country's biggest lender by assets, paving the way for a takeover by its closest rival, the central bank said on Wednesday. The state-run Problem Loans Fund, set up to act as a "bad bank," will buy from KKB assets linked to BTA, a former bank which has been...

  • PARIS, March 15- Pressure on France's Safran to rethink its proposed $9 billion takeover of Zodiac Aerospace intensified on Wednesday as a profit warning sent the target's shares tumbling and hedge fund TCI called for Safran's chairman to be ousted unless it abandons the deal. Zodiac shares were down 16 percent at 23.07 euros by 1259 GMT, well below Safran's...

  • ZURICH, March 15- EFG International is gearing up for a battle with Brazil's Grupo BTG Pactual SA over the value of BSI Bank, with the Swiss private bank now expecting to cut the purchase price by more than a quarter. EFG's acquisition of Swiss rival BSI from BTG Pactual last year helped it almost double in size, making it one of Switzerland's 10 biggest private banks...

  • *Euro Disney defends terms of Walt Disney takeover. LONDON/ PARIS, March 14- An activist hedge fund has criticised plans by Walt Disney to take full control of debt-laden Paris theme park operator Euro Disney, according to a letter seen by Reuters. Paris- based CIAM, which owns 1.4 percent of Euro Disney shares, has written to the board of the French company to object to...

  • *Euro Disney defends terms of Walt Disney takeover. LONDON/ PARIS, March 14- An activist hedge fund has said it objects to plans by Walt Disney to take full control of debt-laden Paris theme park operator Euro Disney, according to a letter seen by Reuters. Paris- based CIAM, which owns 1.4 percent of Euro Disney shares, has written to the board of the French company to...

  • *Iceland lifts controls imposed at height of crisis. REYKJAVIK, March 14- Iceland lifted its remaining capital curbs on Tuesday, ending more than eight years of controls on businesses and citizens put in place after its banks collapsed during the financial crisis. Iceland hopes the move will open the way for investment by Icelandic pension funds abroad and...

  • *Record profit led by Asia, UK profit slides. LONDON, March 14- Prudential said its UK fund management arm M&G does not need to make acquisitions to bolster its competitiveness, as the British insurance group reported record profits on Tuesday. Consolidation, which also saw UK- based Henderson Global Investors agree a $6 billion tie-up with U.S. manager Janus...

  • Record profit led by Asia, UK profit slides. LONDON, March 14- Prudential said its UK fund management arm M&G does not need to make acquisitions to bolster its competitiveness, as the British insurance group reported record profits on Tuesday. Consolidation, which also saw UK- based Henderson Global Investors agree a $6 billion tie-up with U.S. manager Janus...

  • *Iceland lifts controls imposed at height of crisis. REYKJAVIK, March 14- Iceland lifted its remaining capital curbs on Tuesday, ending more than eight years of controls on businesses and citizens put in place after its banks collapsed during the financial crisis. Iceland hopes that the move will open the way for investment by Icelandic pension funds abroad and...

  • Prudential CEO: Active management has material place in market

    Prudential CEO Mike Wells comments on the prospects of M&A activity in its asset management division.

  • LONDON, March 13- Hedge funds and other money managers had barely started liquidating their record bullish position in crude oil futures and options before prices tumbled on March 8. Hedge funds still held a net long position in the three major Brent and WTI futures and options contracts amounting to 874 million barrels at the close of business on March 7.

  • NEW YORK, March 13- JPMorgan Chase& Co has sent some wealth management customers letters this month notifying them that they could be moved to the firm's self-directed platform soon ahead of a pending Labor Department retirement regulation, the bank said on Monday. Clients of Chase Wealth Management, Private Bank and J.P. Morgan Securities who had individual...

  • NEW YORK, March 13- JPMorgan Chase& Co has sent some wealth management customers letters this month notifying them that they will be moved to the firm's self-directed platform soon ahead of a pending Labor Department retirement regulation, the bank said on Monday. While implementation of the U.S. Labor Department's fiduciary rule may ultimately be delayed, the...

  • LONDON, March 13- Brevan Howard Asset Management, a British hedge fund, has sought an injunction to prevent Reuters publishing a story that the firm says is based on confidential information. A spokesman for Brevan Howard, one of Europe's biggest hedge fund management firms, did not immediately respond to a request for comment on Monday. Under Britain's legal...

  • LONDON, March 13- Hedge funds and other money managers had barely started liquidating their record bullish position in crude oil futures and options before prices tumbled on March 8. Hedge funds still held a net long position in the three major Brent and WTI futures and options contracts amounting to 874 million barrels at the close of business on March 7.

  • LONDON, March 13- Miner Anglo American is set to cap executive bonuses, it said on Monday, following a shareholder revolt last year over high payouts even when the company's share price had crashed. In its annual report, Anglo American said on Monday it would reduce maximum annual bonuses for Chief Executive Mark Cutifani to 300 percent from 350 percent of basic...

  • BlackRock signage above building entrance in New York.

    BlackRock planned on Monday to put new pressure on companies to explain themselves on issues including how climate change could affect their business as well as boardroom diversity.

  • BOSTON, March 13- BlackRock Inc, which wields outsized clout as the world's largest asset manager, planned on Monday to put new pressure on companies to explain themselves on issues including how climate change could affect their business as well as boardroom diversity. The move by BlackRock, a powerful force in Corporate America with $5.1 trillion under...

  • LONDON, March 10- The likelihood of a more aggressive U.S. Bank of America Merrill Lynch said that in the week to Wednesday, bond funds had taken in $4.6 billion in new money, with the inflow concentrated in high-grade debt. U.S. stocks received a $7.2 billion inflow while European equities took in $1 billion, the latter seeing inflows for six out of the past seven...

  • *Dublin competing with Luxembourg for business. LONDON, March 10- Asset manager Legg Mason is setting up a management company in Ireland to ensure it can still sell its funds to European Union clients after Britain leaves the bloc. Legg Mason's decision to bulk up its Dublin operation, which was first reported by The Irish Times on Friday, comes as financial...