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Diversified Financials Capital Markets

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  • LONDON, June 10- HSBC's investment bank could shed more than a fifth of its clients and plans to reduce its credit and interest rates businesses by $100 billion over the next two years in its bid to improve profitability. Under a strategic shift announced on Tuesday, HSBC said it will reduce the assets at its investment bank by a third, or $140 billion, which will...

  • *Bally's sales up 3 pct since January. MONACO, June 10- Bally, the long-struggling Swiss leather goods maker, is back in growth mode after years of stagnant sales, buoyed by more contemporary designs and solid demand from Japanese and U.S. buyers, its chief executive said. Frederic de Narp said he aimed to lift Bally's annual sales to 1 billion euros within 5-10 years...

  • Although falling oil revenues have dampened inflows into sovereign wealth funds in the Middle East and elsewhere, the sector is still a huge pool of capital. For its Global Asset Management Study, Invesco Asset Management, part of Invesco Ltd., surveyed 59 state-owned investment funds worldwide with over $7 trillion of assets under management.

  • SAO PAULO, June 9- Foreign investors' optimism about Brazil remains unfounded even as it lessened somewhat in May, Verde Asset Management said in a monthly letter to clients distributed on Tuesday. Verde, Brazil's largest hedge fund with over 30 billion reais under management, cautioned that Brazil's fiscal outlook remains tough while its economy seems...

  • WASHINGTON, June 9- Swiss banks Société Générale Private Banking SA and Berner Kantonalbank AH have agreed to pay the United States multimillion dollar penalties under a resolution announced on Tuesday by the U.S. Justice Department.

  • SAYS REACHES RESOLUTION WITH SOCIÉTÉ GÉNÉRALE PRIVATE BANKING SA AND BERNER KANTONALBANK AG UNDER JUSTICE DEPARTMENT'S SWISS BANK PROGRAM.

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. HSBC will cut its assets by a quarter, or $290 billion on a risk adjusted basis, by...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. It will cut its assets by a quarter, or $290 billion on a risk adjusted basis by 2017,...

  • TAKE A LOOK-Reuters Wealth Management Summit Tuesday, 9 Jun 2015 | 6:37 AM ET

    Fund managers and regulators in London, New York, Hong Kong, Singapore and Geneva will participate in the Reuters Wealth Management Summit from June 8-11 to discuss where people are putting their money and other topics, including alternative investments, digital currencies, millennial clients, consolidation and regulatory issues. >Merrill Lynch pivots to...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC will shed almost 50,000 jobs and take an axe to its investment bank, cutting the assets of Europe's biggest lender by a quarter in a bid to simplify and improve its sluggish performance. The cuts will leave HSBC with about 208,000 full-time equivalent staff by 2017, down from...

  • *Picks Fransi Capital, GIB Capital, NCB Capital for deal. DUBAI, June 9- Saudi Arabia's Al Othaim Real Estate and Investment Co, owner of five shopping malls in the kingdom, has revived plans to issue a debut local currency Islamic bond, probably after the summer, two sources aware of the matter said on Tuesday. Also known as Othaim Malls, the firm has picked the...

  • *HSBC to cut risk weighted assets by $290 bln. HONG KONG, June 9- HSBC will cut almost 50,000 jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290 billion in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday. However the cuts, to be completed by 2017, will be followed by some hiring in...

  • *HSBC to cut risk weighted assets by $290 bln. *HSBC targets growth in Asia insurance, Guangdong province. HONG KONG, June 9- HSBC will take an axe to its investment bank and seek to cut up to $5 billion in costs in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday.

  • FRANKFURT/ LONDON June 8- John Cryan faces the briefest of honeymoons as chief executive of Deutsche Bank. Investors believe the Briton is a more credible contender than his predecessors to revive the fortunes of Germany's largest bank and its shares rose 8 percent on Monday after the weekend departure of co-executives Anshu Jain and Juergen Fitschen.

  • June 8- The California Public Employees' Retirement System intends to cut ties with roughly half of the firms handling its money to reduce fees paid to investment managers, the Wall Street Journal reported. Calpers, the largest pension fund in the United States, will tell its investment board on June 15 that it plans to cut the number of direct relationships it has...

  • NEW YORK, June 7- General Electric Co is nearing an agreement to sell its private equity lending unit to Canada's biggest pension fund, the Wall Street Journal reported on Sunday. Terms are still being negotiated for a takeover that would include more than $10 billion of assets, but less than the unit's full book of $16 billion, the WSJ added. The private equity...

  • NEW YORK, June 7- General Electric Co is nearing an agreement to sell its private-equity lending unit to Canada's biggest pension fund, the Wall Street Journal reported on Sunday. GE and the Canada Pension Plan Investment Board are aiming to sign the deal Monday, the WSJ said, citing people familiar with the matter. Terms are still being negotiated for a takeover...

  • LONDON, June 5- It isn't supposed to be like this. "We should get used to periods of higher volatility," Draghi said following the European Central Bank's latest policy meeting. Although there is little doubt they will get their nominal cash investment back from triple-A-rated Germany, they won't have bargained for this kind of volatility.

  • LONDON, June 5- The newly-formed Global Infrastructure Investor Association said on Friday it had appointed Matthew Farnum-Schneider, a managing director at insurer Prudential, as its first chairman. Henk Huizing, investment director of Dutch pension fund PGGM, and Andrew Claerhout, head of infrastructure for Ontario Teachers' Pension Plan, were appointed...

  • TOKYO, June 5- Japan's trillion dollar pension fund expects the yen to remain weak against the dollar, meaning there is no immediate need for it to hedge against the risk of it turning stronger, the fund's head said on Friday. Takahiro Mitani, president of the Government Pension Investment Fund, said that since the United States is expected to raise interest rates...