Capital Markets Asset Management and Custody Banks

  • April 11- Perella Weinberg Partners LP has hired Alexander Tracy, a managing director at Miller Buckfire& Co, as a senior member of its financial restructuring advisory team, people familiar with the matter said on Monday. Tracy is one of the first senior hires at Perella Weinberg's restructuring practice after the global advisory and asset management firm...

  • *Asia-Pacific has most high net worth individuals. With 4.7 million high net worth individuals- typically those with $1 million in liquid financial assets- Asia-Pacific is the largest and fastest growing wealth region, according to Cap Gemini and RBC. Gurbani said she was so impressed with the Mesitis service that she ditched her private banker and even...

  • David Tepper, at Carnegie Mellon University, October 30, 2015 in Pittsburgh.

    The departure of Tepper to Florida has gotten so much attention that lawmakers are calling for changing the state's tax structure.

  • April 8- Money managers slashed their bullish exposure in U.S. crude by the most in three months ahead of a sharp oil price rally this week, trade data showed on Friday. The managers of hedge funds and other investment firms that speculate on oil cut their net longs in U.S. crude options and futures by 21,831 contracts to 177,504 for the week ended Tuesday, the...

  • LONDON, April 8- Hedge funds investing in China lost an average of 7.4 percent in the first quarter of 2016, the fallout of a turbulent three months for the world's second largest economy, all but wiping out all the previous year's profits, data from eVestment showed. Public media in China lashed out at hedge fund "speculators" and regulators took a raft of measures...

  • NEW YORK, April 7- U.S. Oil was down more than 2 percent and Wall Street opened broadly lower. "The little bit of weakness in oil is certainly part of the equation there, and some of the negative correlation between equity and Treasury bond performance is still in place," said Mark Heppenstall, chief investment officer of Penn Mutual Asset Management in Horsham,...

  • *OCBC to buy Barclay's Singapore, Hong Kong operations. SINGAPORE, April 7- Barclays has agreed to sell its wealth and investment management business in Hong Kong and Singapore to Oversea-Chinese Banking Corp, as the British lender continues its drive to reduce risk and simplify. OCBC's purchase price was set at 1.75 percent of Barclays' $18.3 billion in assets...

  • *OCBC agrees to buy Barclay's Singapore and Hong Kong operations. SINGAPORE, April 7- OCBC's path to snapping up Barclays' Singapore and Hong Kong wealth management business became much easier after rival DBS Group Holdings was turned off by fears of poaching at the unit, financial sources familiar with matter said. Oversea-Chinese Banking Corp, Singapore's...

  • *Agrees to buy Barclay's Singapore and Hong Kong operations. SINGAPORE, April 7- Oversea-Chinese Banking Corp has agreed to buy Barclays' wealth management operations in Singapore and Hong Kong for $320 million, its second major private banking deal since 2009.. "Strategically, this acquisition further broadens our geographical footprint and client...

  • SINGAPORE, April 7- A unit of Oversea-Chinese Banking Corp, Singapore's second-biggest lender, said it has agreed to buy part of the Asian wealth unit of Barclays for $320 million, its second major private banking acquisition since 2009.. OCBC beat DBS Group Holdings, the other bidder left in the race, sources with knowledge of the matter said, after a competitive...

  • NEW YORK, April 6- After years of debate, the U.S. Department of Labor issued a new rule on Wednesday that requires financial advisers who handle retirement accounts to act as "fiduciaries," which means putting the best interests of their clients first. The ruling is complex, but the following are some answers to some of the most basic questions on retirement savings,...

  • BOSTON, April 6- Fidelity Investments parent FMR LLC on Wednesday named company veteran Gerard McGraw as its new chief financial officer and gave him an expanded role overseeing finance and brokerage operations. While McGraw will continue to report to Fidelity Chief Executive Abigail Johnson, the shift marks one of the more significant personnel changes...

  • BOSTON, April 6- Hedge fund Tiger Global Management, known for making big bets on technology companies, slipped modestly in March, leaving it down 21 percent for the first three months of the year, an investor in the fund said. The numbers put the New York- based firm, which manages roughly $6 billion in its hedge fund, among the year's worst performers, a rare misstep for...

  • MADRID, April 6- The sale of hundreds of subsidized flats by Madrid's former city council to private equity investors such as Blackstone was riddled with flaws, a preliminary report from a local auditing body said on Wednesday. Blackstone Group, one of the world's largest alternative asset managers, along with Spanish fund Magic Real Estate, bought over 1,800...

  • BOSTON, April 6- Hedge fund Tiger Global Management, known for making big bets on technology companies, slipped modestly in March, leaving it down 21 percent for the first three months of the year, an investor in the fund said. For the New York- based firm, which manages roughly $6 billion in its hedge fund, the numbers put it among the year's worst performers, marking a...

  • April 6- Miner and commodity trader Glencore said it had agreed to sell a 40 percent stake in its agricultural business to Canada Pension Plan Investment Board for $2.5 billion and use the proceeds to reduce debt, which is among the highest in the sector. The Wall Street Journal on Tuesday said CPPIB, one of the world's biggest pension funds, likely won that auction.

  • BOSTON/ NEW YORK, April 5- For hedge fund titan John Paulson, history may be repeating itself. The Paulson Partners fund, which bets on corporate events such as mergers, is down 7.7 percent in 2016 through February, according to a person familiar with the returns. The Paulson Advantage Plus Fund lost 11.24 percent in the first two months of the year.

  • April 5- Huatai Securities Co Ltd is seeking to acquire U.S. asset management software maker AssetMark Inc for as much as $800 million, according to people familiar with the matter, in the latest example of a Chinese company taking an interest in U.S. businesses. A deal for AssetMark could be the biggest Chinese investment in the U.S. financial services sector...

  • April 5- Huatai Securities Co Ltd is seeking to acquire U.S. asset management software maker AssetMark Inc for as much as $800 million, according to people familiar with the matter, in the latest example of a Chinese company taking an interest in U.S. businesses. A deal for AssetMark could be the biggest Chinese investment in the U.S. financial services sector...

  • *Follows writing off of Novo debt worth nearly 2 bln euros. LONDON/ LISBON, April 5- A group of 14 asset managers have started legal action against the Portuguese Central Bank over heavy losses on nearly 2 billion euros of bonds in Novo Banco, the bank created from the remains of Banco Espirito Santo, court documents showed. After trading at par prior to the central...