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Asset Management and Custody Banks

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  • Feb 5- Investment bank and asset manager Lazard Ltd reported a better-than-expected 35 percent rise in fourth-quarter profit as merger advisory revenue rose in a recovering M&A market. Lazard's financial advisory revenue increased 2 percent from the same quarter last year to $315 million, driven by an 8 percent increase in M&A and other advisory fees.

  • DUBAI, Feb 5- Lazard Asset Management said it would expand its Middle East operations by hiring the former regional asset management team of ING Group NV, which resigned from the Dutch firm in Dubai earlier this week.

  • TORONTO, Feb 5- Canada Pension Plan Investment Board said on Wednesday it will open an office in Sao Paulo in April, intent on boosting real estate and infrastructure investments in the region even as money is flowing out of emerging markets.

  • *FTSEurofirst 300 down 0.2 pct, well off session low. LONDON, Feb 4- European shares inched lower on Tuesday, extending recent steep falls and pegged back by disappointing earnings reports from the likes of chip designer ARM and telecom company KPN.

  • *FTSEurofirst 300 down 0.1 percent, well off session low. LONDON, Feb 4- European shares inched lower on Tuesday, extending recent steep falls, pegged back by disappointing earnings reports from the likes of chip designer ARM and telecom company KPN.

  • SAO PAULO, Feb 3- Asset manager Credit Suisse Hedging Griffo is gradually adding Brazilian assets as domestic blue-chip stocks now look fairly valued and a correction in prices for some local debt notes may be losing momentum, Chief Investment Officer Luis Stuhlberger said on Monday.

  • State fund finds Loeb's Third Point too risky Monday, 3 Feb 2014 | 9:07 AM ET
    Dan Loeb, founder and chief executive officer of Third Point LLC.

    Daniel Loeb's hedge fund will be losing Rhode Island as a client after the state's pension fund found his Third Point too risky.

  • BOSTON, Jan 31- Billionaire hedge fund investor Daniel Loeb will be losing Rhode Island as a client after the state's pension fund found his Third Point LLC too risky for its taste and decided to pull out all of its money.

  • BOSTON, Jan 31- Billionaire hedge fund investor Daniel Loeb will be losing Rhode Island as a client after the state's pension fund found his Third Point LLC too risky for its taste and decided to pull all of its money out.

  • Ackman's Pershing Square trims holdings of Beam Friday, 31 Jan 2014 | 5:53 PM ET

    BOSTON, Jan 31- Hedge fund manager William Ackman sold 7.3 million shares in Beam Inc this week, according to a regulatory filing on Friday, trimming his holdings three weeks after the share price spiked on news of a planned takeover by Japanese whiskey maker Suntory Beverage& Food Ltd.

  • *Q4 ENI up 130 percent to $1.54 billion. NEW YORK, Jan 30- Blackstone Group LP reported on Thursday that fourth-quarter profit surged 130 percent, capping a record earnings year and far exceeding analysts' expectations, with its real estate business behind much of the gains.

  • Jan 30- Invesco Ltd said on Thursday its fourth-quarter profit jumped 81 percent, boosted by strong markets and the sale of its Atlantic Trust Private Wealth Management unit. Excluding the sale of its Atlantic Trust unit, which Invesco sold to the Canadian Imperial Bank of Commerce for $210 million, the company earned 58 cents per share.

  • Jan 30- Franklin Resources Inc said on Thursday its quarterly profit rose 17 percent as market gains drove up assets, helping the fund manager beat analysts' expectations and sending its shares up 2 percent in early trading.

  • NEW YORK, Jan 30- Blackstone Group LP reported on Thursday that fourth-quarter profit surged 130 percent, capping a record earnings year and far exceeding analysts' expectations, due to strength in its real estate business.

  • HONG KONG, Jan 30- Segantii Capital Management, one of Asia's fastest growing hedge funds, has been hit by five resignations in the last few weeks, people with knowledge of the matter told Reuters, after the firm saw its first annual loss.

  • HONG KONG, Jan 30- Segantii Capital Management, one of Asia's fastest growing hedge funds, has been hit by five recent resignations, people with knowledge of the matter told Reuters, after the firm saw its first annual loss.

  • Jan 28- A New York- based hedge fund is pushing Cliffs Natural Resources Inc to spin off its "riskier" international operations after the U.S.-based producer of iron ore was the second-worst performing stock in the S&P 500 Index last year.

  • HONG KONG, Jan 28- Chinese asset management firm CSOP said on Tuesday it was collaborating with London- based Source to apply for an exchange-traded fund in the United States, following their first such product launch in London earlier this month.

  • HONG KONG, Jan 28- China shares eked out gains on Tuesday, buoyed by the Chinese banking sector after the central bank injected more cash and a trust firm agreed to a deal that averted a possible default for a wealth-management product.

  • LONDON, Jan 27- Canada's Bank of Montreal has made a preliminary offer to buy UK fund manager F&C Asset Management, operator of the world's oldest investment trust, for 697 million pounds in cash in a move to beef up its wealth management arm.

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