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Capital Markets Asset Management and Custody Banks

  • NEW YORK, Dec 19- Top executives of New York- based hedge fund manager Platinum Partners were arrested on Monday and charged with running a $1 billion fraud that federal prosecutors said became "like a Ponzi scheme" as its largest investments lost much of their value. Led by Mark Nordlicht, Platinum was known for years for producing exceptionally high returns--...

  • *CQS, Man Group and Brevan Howard see headcount falls. LONDON, Dec 20- The number of senior people registered as working at the 15 largest discretionary hedge funds in Britain fell by 3.5 percent in 2016, one of the toughest for the industry in recent years. These 15 funds together account for roughly $247 billion of a $478 billion industry in Britain and $3.24...

  • BOSTON, Dec 20- Prominent technology investor Chris Connor is shutting down his hedge fund less than one year after launching it and will be joining Citadel, one of the industry's biggest players, two sources familiar with the move said on Tuesday. Connor launched Ardmore Global Investors, which concentrated on picking global technology, media and...

  • STOCKHOLM, Dec 20- Volvo Cars has raised 5 billion Swedish crowns from a group of Swedish institutional investors, taking it a step towards a share market flotation nearly seven years after being bought by Chinese carmaker Zhejiang Geely Holdings. After Geely's $1.8 billion purchase of Volvo- a byword for a safe and unfussy style of Swedish cars- many analysts...

  • The nation's largest public pension fund embarked on an extensive review of tobacco earlier this year, after a Wilshire Associates report estimated the exclusion of tobacco had cost the fund about $3 billion between 2001 and 2014. That was a considerably larger portfolio impact than CalPERS' other divested assets, such as Iran, Sudan and certain...

  • SHANGHAI, Dec 20- China's central bank will tighten supervision of shadow banking businesses by including off-balance sheet wealth management products into its risk-assessment framework next year, sources with direct knowledge of the matter told Reuters. Over the weekend, China's top leaders vowed at a key economic planning meeting to prevent asset...

  • NEW YORK, Dec 19- The U.S. Commodity Futures Trading Commission ordered a Washington area wealth management firm to pay $800,000 on Monday in a fraud case involving the firm's chief executive, who apparently committed suicide in 2014.. Potomac, Maryland- based Convergent Wealth Advisors was ordered to pay the fine to settle charges that its former CEO David Zier...

  • NEW YORK, Dec 19- Top executives of New York- based hedge fund manager Platinum Partners were arrested on Monday and charged with running a $1 billion fraud that federal prosecutors said became "like a Ponzi scheme" as its largest investments lost much of their value. Led by Mark Nordlicht, Platinum was known for years for producing exceptionally high returns--...

  • The nation's largest public pension fund embarked on an extensive review of tobacco earlier this year, after a Wilshire Associates report estimated the exclusion of tobacco had cost $2 billion to $3 billion. That was a considerably larger impact to the portfolio than CalPERS' other divested assets, such as Iran, Sudan and certain firearms-related companies.

  • The nation's largest public pension fund embarked on an extensive review of tobacco earlier this year, after a Wilshire Associates report estimated the exclusion of tobacco had cost $2 billion to $3 billion. That was a considerably larger impact to the portfolio than CalPERS' other divested assets, such as Iran, Sudan and certain firearms-related companies.

  • The nation's largest public pension fund embarked on an extensive review of tobacco earlier this year, after a Wilshire Associates report estimated the exclusion of tobacco had cost $2 billion to $3 billion. That was a considerably larger impact to the portfolio than CalPERS' other divested assets, such as Iran, Sudan and certain firearms-related companies.

  • NEW YORK, Dec 19- Top executives of New York- based hedge fund manager Platinum Partners were arrested on Monday and charged with running an approximately $1 billion fraud that federal prosecutors said became "like a Ponzi scheme" as its largest investments lost much of their value. Mark Nordlicht, Platinum's founding partner and chief investment officer, was...

  • NEW YORK, Dec 19- Top executives of New York- based hedge fund manager Platinum Partners were arrested on Monday and charged with running an approximately $1 billion fraud that federal prosecutors said became "like a Ponzi scheme" as its largest investments lost much of their value. Mark Nordlicht, Platinum's founding partner and chief investment officer, was...

  • NEW YORK, Dec 19- Top executives of New York- based hedge fund manager Platinum Partners were arrested on Monday and charged with running an approximately $1 billion fraud that federal prosecutors said became "like a Ponzi scheme" as its largest investments lost much of their value. Nordlicht, Platinum's 48- year-old founding partner and chief investment...

  • Dec 19- Asset manager Legg Mason Inc said on Monday its largest shareholder, Chinese billionaire Tianqiao Chen's Shanda Group, plans to increase its stake in the company to up to 15 percent. Shanda, which bought a 10 percent stake in Legg Mason from activist investor Trian Fund Management LP in April, had a 10.4 percent stake as of July 6. The business lured millions...

  • LONDON, Dec 19- Hedge funds have amassed a record bullish position in crude oil in anticipation OPEC and non- OPEC oil producers will succeed in rebalancing the market and reducing excess stocks next year. Promised production cuts totalling almost 1.2 million barrels per day by the Organization of the Petroleum Exporting Countries and 560,000 bpd by non- OPEC...

  • Dec 19- Asset manager Legg Mason Inc said on Monday its largest shareholder, Shanda Group, plans to increase its stake in the company to up to 15 percent as part of a long-term strategic investment agreement. Baltimore- based Legg Mason also appointed Shanda Group Chief Executive Tianqiao Chen and Robert Chiu, president of Shanda Group, to its board of directors.

  • SHANGHAI, Dec 19- China's central bank will tighten supervision of shadow banking businesses by including off-balance sheet wealth management products into its risk-assessment framework next year, sources with direct knowledge of the matter told Reuters. Over the weekend, China's top leaders vowed at a key economic planning meeting to prevent asset...

  • SHANGHAI, Dec 19- China's central bank will include the off-balance sheet wealth management business in its so-called Macro Prudential Assessment risk-tool starting in the first quarter of next year, sources with direct knowledge of the matter told Reuters. The People's Bank of China also urged financial institutions to strengthen liquidity management...

  • BOSTON, Dec 16- Fidelity Investments unintentionally boosted BlackRock Inc's prospects as a robo adviser with a small investment in a start-up company that BlackRock bought last year for an estimated $150 million. Morgan Stanley analysts describe how robo advising is an emerging force to provide affordable advice in a $22 trillion wealth pool that...