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Capital Markets Asset Management and Custody Banks

  • And the country's banks, many of which are based in Geneva, should not count on Britain's vote to leave the EU driving banks out of London to the shores of the city's lake, Mirabaud said. "We must not underestimate the City of London's resilience, nor should we forget that a presence in Luxembourg, Dublin or Frankfurt would give you access to the European market, unlike...

  • LONDON, Oct 11- Financial services group Old Mutual Plc's UK asset management business posted a sharp drop in third-quarter client inflows and higher investment platform costs, as its parent prepares to split into its four main businesses. "We expect markets to remain difficult for some time given the uncertain conditions surrounding the UK's exit from the...

  • *Lok Yim to replace Raju as Asia Pacific wealth head. HONG KONG/ SINGAPORE, Oct 11- Deutsche Bank's Asia Pacific wealth management head Ravi Raju is leaving to join UBS, a source with direct knowledge of the move told Reuters on Tuesday, the latest senior departure from the bank in the region. His departure, the second by a high-profile Deutsche banker in Asia in the...

  • HONG KONG, Oct 11- Deutsche Bank AG has appointed Lok Yim as the head of its Asia Pacific wealth management division with immediate effect, a spokeswoman for the business said in an emailed statement on Tuesday. Yim, who joined Deutsche Bank in 2007 and was most recently its head of wealth management in North Asia, replaces Ravi Raju, who has decided to pursue...

  • LONDON, Oct 10- Saudi Arabia successfully confounded hedge funds with bearish views on oil by reaching an unexpected production deal with OPEC members in Algiers on Sept. 28, sending prices soaring in a short-covering rally. Hedge funds' net position surged from 471 million barrels on the eve of the OPEC meeting to 612 million barrels seven days later.

  • SAO PAULO, Oct 10- Italian money manager Azimut Holding SpA is close to announcing the combination of Brazilian units AZ Quest Investimentos Ltda and AZ Legan Asset Management Ltda, two people with direct knowledge of the deal said on Monday. The combined firm could have about 4.3 billion reais in assets under management, said one of the people, who requested...

  • ZURICH, Oct 10- UBS said on Monday it was launching a new digital platform to provide online advice for wealth management clients in Britain. said Dirk Klee, chief operating officer of UBS Wealth Management. "It enables us to bring our advice and expertise to a much wider audience, at first in the UK, but in time to other geographies too."

  • LONDON, Oct 10- Saudi Arabia successfully confounded hedge funds with bearish views on oil by reaching an unexpected production deal with OPEC members in Algiers on Sept. 28, sending prices soaring in a short-covering rally. Hedge funds' net position surged from 471 million barrels on the eve of the OPEC meeting to 612 million barrels seven days later.

  • Daniel Loeb's Third Point climbed 1.1 percent, while Citadel's Wellington fund gained 2 percent, and Barry Rosenstein's Jana Partners returned 2 percent, the funds told investors. That leaves Third Point up 7.2 percent for the year, while Citadel is up 2.6 percent and Jana Partners trimmed its losses to 1.1 percent. Poor performance has also forced some firms,...

  • ABUJA, Oct 7- Nigerian pension funds have been selling equities and shifting to local bonds despite cheap valuations as illiquid currency markets limit foreign participation in the stock market. Dave Uduanu, who manages 220 billion naira for Pension Alliance Limited, said his fund had cut its exposure to Nigerian stocks to 10 percent this year, from 20 percent...

  • NEW YORK, Oct 6- The Pimco Income Fund, overseen by group chief investment officer Dan Ivascyn, posted inflows of $1.2 billion in September, bringing total assets under management to $66 billion for the portfolio, according to Morningstar data on Thursday. The Pimco Income Fund, widely seen by investors and analysts as Pimco's new flagship fund, has brought in a...

  • Oct 6- Andy Sieg will be the next head of Bank of America Corp's wealth management unit at the end of the year, when John Thiel steps down, the bank said on Thursday. Implementing the rule, handed down by the U.S. Department of Labor, is expected to be costly and complicated for large brokerages. Laughlin asked Thiel to stay on as vice chairman to oversee the wealth...

  • *Marshall Wace, Discovery Capital cut "short positions". LONDON/ NEW YORK Oct 6- Two leading hedge funds which made big bets on Deutsche Bank shares falling are now reducing their "short" positions, in a sign of confidence in the stability of the lender. Marshall Wace, a $25 billion hedge fund co-founded by British financier Paul Marshall and U.S. billionaire Robert...

  • Oct 6- Andy Sieg will be the next head of Bank of America Corp's wealth management unit at the end of the year, when John Thiel steps down, the bank said on Thursday. Implementing the rule, handed down by the U.S. Department of Labor, is expected to be costly and complicated for large brokerages. Laughlin asked Thiel to stay on as vice chairman to oversee the wealth...

  • Oct 6- Wall Street was little changed on Thursday, a day ahead of a crucial employment report that would show whether the economy is strong enough to absorb an interest rate hike. "At the moment, what is driving the U.S. market is a repricing around expectations of near-term Fed action," said Bill Merz, investment strategist at U.S. Bank Wealth Management in...

  • Oct 6- Britain's SVG Capital accepted an offer from Goldman Sachs and the Canada Pension Plan Investment Board on Thursday, saying it gave shareholders a better return than a hostile bid from U.S. private equity rival HarbourVest. Boston- based firm HarbourVest launched its SVG bid on Sept. 12 at 650 pence a share, saying it was taking advantage of a weaker pound,...

  • Oct 6- Bank of America said on Thursday John Thiel, head of Merrill Lynch Wealth Management, has decided to step down. Thiel will become vice chairman of Global Wealth and Investment Management, effective Jan. 1. Andy Sieg, head of BofA's global wealth and retirement solutions division, will replace Thiel.

  • NEW YORK, Oct 5- Assets of U.S. prime money market funds for institutional investors dropped more than $100 billion in the latest week, ahead of new regulations scheduled to go into effect next week, the Money Fund Report said on Wednesday. A number of institutional prime money funds have been converting to funds that own only U.S. government securities in an effort...

  • NEW YORK, Oct 5- Assets of U.S. prime money market funds for institutional investors posted a drop of over $100 billion in assets in the latest week as new regulations are scheduled to go into effect next week, the Money Fund Report said on Wednesday. A number of institutional prime money funds have been converting to funds that own only U.S. government securities in...

  • BOSTON, Oct 5- One of the best kept secrets in the mutual fund industry is the compensation of portfolio managers who oversee trillions of dollars in retirement assets. The SEC does not require any detailed disclosure. Median CEO pay at S&P 500 companies totaled $10.8 million in 2015, according to pay research firm Equilar Inc..