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Capital Markets Asset Management and Custody Banks

  • Jan 23- Former Morgan Stanley executive Greg Fleming has joined asset management firm Axiom Capital Management, according to a regulatory filing, offering the first hint of what his life after Wall Street might look like. Fleming, who was once widely viewed as a possible successor to Morgan Stanley Chief Executive Officer James Gorman, will serve as a...

  • BOSTON, Jan 23- Smarting from its biggest-ever yearly loss, hedge fund Viking Global Investors has reordered its stock picking team and plans to invest more money in financial and consumer stocks and less in pharmaceutical stocks, its co-founder told clients. The $30 billion firm's biggest portfolio, Viking Global Equities, lost 4 percent last year, marking...

  • NEW YORK, Jan 23- Jeffrey Gundlach, who oversees more than $101 billion of assets as chief executive of DoubleLine Capital, has predicted a weaker dollar and more demand for inflation-protected securities now that U.S. President Donald Trump has "doubled down" on his stance regarding trade and securing jobs in America. This included an executive order formally...

  • DUBAI, Jan 23- Dubai ports operator DP World said on Monday it was partnering with Canadian pension fund manager Caisse de dépôt et placement du Québec to create an investment vehicle worth US $3.7 billion that would invest in ports and terminals worldwide. The platform will have "a focus on investment-grade countries" excluding the United Arab Emirates, and...

  • NEW YORK, Jan 20- Merger activity among independent wealth management firms in the United States hit an all-time high in 2016 as more of the industry's aging workforce retired, the economy strengthened and more advisers were able to obtain financing for acquisitions, according to new study. The report, published this week by the industry consultant firm...

  • President Donald Trump's policies could lead to more violent stock market movements, something prominent hedge fund manager Lee Ainslie said could help his portfolio rebound after a lousy 2016.. Ainslie's $11 billion Maverick Capital missed out on a rally sparked by Trump's unexpected election in November and ended the year with double digit losses in its...

  • NEW YORK/ LONDON, Jan 20- Former British finance minister George Osborne, who lost his job after Britain's vote to leave the European Union, will join BlackRock Inc as an adviser next month, the world's largest asset manager said on Friday. Osborne will work as a part-time senior adviser to the BlackRock Investment Institute, an arm of the asset manager that serves...

  • Jan 20- The U. S Securities and Exchange Commission asked Herbalife Ltd for documents and information related to the dietary supplements maker's compliance with anti-corruption laws in China, the company said on Friday. Hedge fund manager Bill Ackman, who had called Herbalife a pyramid scheme, said a couple of years back that the company was breaking...

  • LONDON, Jan 20- For financial markets, the Trump era begins on Monday, and if history is any guide the following month should be a rocky one for Wall Street but positive for the dollar. Only four presidents have seen Wall Street rise in their first month in power: Hoover, John F. Kennedy in 1961, George H. W. Bush in 1989 and Bill Clinton in 1993. Even Ronald Reagan and Barack...

  • LONDON, Jan 20- Precious metal funds saw their biggest inflow in five months and bond funds notched a fourth consecutive gain over the last week, as investors continued to hedge "Trump trades" put on late last year that bet on stronger growth and rising inflation. Figures from Bank of America Merrill Lynch, which track flows through to Wednesday, showed the first...

  • DAVOS, Switzerland, Jan 20- The U.S. is facing a period of dollar strengthening, fuelling likely tensions between the new administration of Donald Trump and the Federal Reserve, the chief executive of asset manager BlackRock told a panel in Davos on Friday. Larry Fink said at the World Econopmic Forum that he expected that Fed interest rate hikes this year could...

  • NEW YORK, Jan 19- A former portfolio manager at Visium Asset Management LP was convicted of securities fraud on Thursday, following a trial that stemmed from a federal investigation that led to the New York- based hedge fund's closure last year. Stefan Lumiere, whose sister was married to Visium founder Jacob Gottlieb when he worked at the hedge fund, was found...

  • NEW YORK, Jan 19- A former portfolio manager at Visium Asset Management LP was convicted of securities fraud on Thursday, following a trial that stemmed from a federal investigation that led to the New York- based hedge fund's closure last year. Stefan Lumiere, whose sister was married to Visium founder Jacob Gottlieb when he worked at the hedge fund, was found not...

  • NEW YORK, Jan 19- A former portfolio manager at Visium Asset Management LP was convicted of fraud on Thursday, following a trial that stemmed from a federal investigation that led to the New York- based hedge fund's closure last year. Stefan Lumiere, whose sister had married Visium founder Jacob Gottlieb, was found guilty by a federal jury in Manhattan on...

  • 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.