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Diversified Financials Capital Markets

  • SAO PAULO, Feb 6- Grupo BTG Pactual SA has fired partner Marco Gonçalves as head of mergers and acquisitions, following reports he was sued by a New York City nightclub after leaving a $340,000 bill unpaid last year, two sources with knowledge of the matter said on Monday. The New York Daily News reported last Thursday, citing court documents, that Gonçalves left...

  • Feb 6- Activist hedge fund manager Mick McGuire nominated four directors to serve on the board of Buffalo Wild Wings Inc, officially launching a proxy fight against the U.S. restaurant chain. McGuire, who runs Marcato Capital Management, has publicly agitated for changes at Buffalo Wild Wings since last July, demanding that the company franchise more of its...

  • Feb 6- KKR& Co LP said on Monday it would merge its hedge fund KKR Prisma with institutional investment firm PAAMCO to form an investment company with more than $30 billion in assets. The combined business will be jointly run by PAAMCO Chief Executive Jane Buchan and KKR Prisma co-founder Girish Reddy, KKR said. PAAMCO manages over $10 billion in discretionary...

  • NEW YORK, Feb 6- Investors pulled $1.6 billion from the Pimco Total Return Fund in January, leaving assets under management of $75 billion, Morningstar data showed on Monday. The Pimco Income Fund, widely seen by investors and analysts as Pimco's new flagship fund, posted $1.6 billion of inflows, resulting in assets under management of $73 billion, Morningstar...

  • NEW YORK, Feb 6- Investors pulled $1.6 billion from the Pimco Total Return Fund in January, leaving assets under management of $75 billion, Morningstar data showed on Monday. Pimco Income Fund, overseen by group chief investment officer Dan Ivascyn, posted $1.6 billion of inflows, resulting in assets under management of $73 billion, Morningstar said.

  • SAN FRANCISCO, Feb 6- U.S. public pension funds are cutting their expectations for investment returns over the next 30 years or more, but some do not expect to meet even the new targets over the coming decade. After a long period of low interest rates, forecasts by investment analysts show the next 10 years will probably bring slower market growth, leading to reduced...

  • Feb 6- Activist hedge fund manager Mick McGuire nominated four directors to serve on the board of Buffalo Wild Wings Inc, officially launching a proxy fight against the U.S. restaurant chain. McGuire, who runs Marcato Capital Management, has publicly agitated for changes at Buffalo Wild Wings since last July, demanding that the company franchise more of its...

  • Feb 6- Hedge fund manager Mick McGuire upped the ante in his fight for change at casual restaurant chain Buffalo Wild Wings Inc, nominating himself and three others to its board. This comes two months after McGuire started talks with the company's franchise owners, saying they could have better access to innovations and grow more if his ideas were implemented.

  • LONDON, Feb 6- Hedge funds have accumulated a record bullish position in crude futures and options, betting on further price rises, but the lopsided nature of the positioning has become a key source of risk in the oil markets. The ratio of long to short positions has reached almost 9: 1, the most bullish since May 2014, when Islamic State fighters were racing across...

  • *UK banks must separate retail, investment banking operations. LONDON, Feb 5- Barclays Plc is about to overhaul its back office operations under a restructuring to help it comply with new post-crisis rules forcing British banks to ring-fence their retail operations from their riskier business. While Barclays was not among those that needed a UK...

  • BOSTON/ SAN FRANCISCO, Feb 3- Shares sold in a $3 billion initial public offering by the parent of Snapchat will lack voting power, testing the commitment of big asset managers in their recent fight for investor rights. In a registration document on Thursday that it will use to pitch shares to investors, Snap Inc outlined an aggressive expansion plan for its social...

  • BOSTON/ SAN FRANCISCO, Feb 3- Shares sold in a $3 billion initial public offering by the parent of Snapchat will lack voting power, testing the commitment of big asset managers in their recent fight for investor rights. In a registration document on Thursday that it will use to pitch shares to investors, Snap Inc outlined an aggressive expansion plan for its social...

  • *Over 1 bln euros of new Italy issuance bought by industry. LONDON, Feb 3- Some hedge funds who shunned or bet against European government bonds only three months ago are buying again as a sharp rise in yields offers them returns after a lacklustre 2016 for the industry. "We hear diverging opinions," said Pacome Breton, head of portfolio management at hedge fund...

  • Feb 2- Cerberus Capital Management LP's Chief Executive Officer Stephen Feinberg is in talks to join U.S. Commerce Secretary designate Wilbur Ross, and Gary Cohn, director of the White House National Economic Council, are just some of the high-profile financiers who have agreed to join Trump's administration. A Princeton graduate, he previously worked at bond...

  • NEW YORK, Feb 2- Wealthfront, one of the largest digital wealth management startups known as "robo-advisors", has launched a new automated financial planning tool as it continues to focus on electronic services while competitors add human advice. Wealthfront's product launch comes days after the company's rival Betterment LLC unveiled new services that will...

  • Lazard's net income attributable fell to $127.98 million, or 96 cents per share, in the fourth quarter ended Dec. 31, compared with $157.79 million, or $1.18 per share, a year earlier. Lazard's financial advisory unit's revenue rose 22.3 percent to $404.58 million in the quarter, while revenue from its asset management business rose 5.7 percent to $275.37 million.

  • Feb 2- Financial advisory and asset management firm Lazard Ltd reported a fall of about 19 percent in quarterly profit on Thursday, hurt by higher costs. Net income attributable to Lazard fell to $127.98 million, or 96 cents per share, in the fourth quarter ended Dec. 31, compared with $157.79 million, or $1.18 per share, a year earlier. Total revenue rose 16.7 percent...

  • FRANKFURT, Feb 2- Deutsche Bank posted a net loss of 1.9 billion euros in the fourth quarter as legal costs for past misdeeds outstripped gains from a rebound in bond trading. Germany's flagship lender missed the higher expectations of analysts who had expected the bank to post a fourth-quarter net loss of just 1.16 billion euros. The bank hiked its litigation...

  • Feb 1- Some investment banks seeking to be added as underwriters to Snapchat owner Snap Inc's initial public offering registration document have been denied access to review it before it is made public this week, according to people familiar with the matter. For Wall Street banks, it pits their desire to appear on the front cover of this year's most high-profile...

  • Public pension funds across the country have been steadily revising downward their expectations for investment returns from a median discount rate of 8 percent in 2010 to 7.5 percent presently, according to the National Association of State Retirement Administrators. In response to Wednesday's decision, California Treasurer John Chiang said that "by...