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Asset Management and Custody Banks

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  • Family Endowment Partners LP and its head, Lee Weiss, steered the couple, James and Jane Sutow, to a $9 million investment in Biosyntec Polska, according to an American Arbitration Association ruling on Tuesday. The firm, which also has offices in Pennsylvania and Maryland, manages $335 million in assets, according to a regulatory filing. The Sutows lost a total of...

  • April 16- Engaged Capital LLC has written to Rovi Corp, which sells television guide programs to cable providers, seeking changes to the company's board. Engaged Capital, which owns a 0.49 percent stake in Rovi, is seeking to replace three of Rovi's long-term directors, Andrew Ludwick, James Meyer and James O'Shaughnessy. "Rovi has recommended its stockholders...

  • MOVES-Morgan Stanley executive to co-host TV show Thursday, 16 Apr 2015 | 1:49 PM ET

    NEW YORK, April 16- Gary Kaminsky, a vice chairman in Morgan Stanley's wealth management business, is moving into a part-time advisory role at the bank so he can co-host a television show about Wall Street, the bank confirmed on Thursday. Kaminsky, a former Neuberger Berman executive, spent a few years on the financial news network CNBC before joining Morgan...

  • April 16- BlackRock Inc said on Thursday it plans to beef up its quantitative investing team as the sector continued to outperform peers and reported its actively managed equity funds recorded the first inflows since 2013.. BlackRock, the world's largest money manager, also reported that first-quarter profit rose by 8.7 percent, and adjusted earnings topped...

  • Ex-Fed chair Bernanke joins hedge fund Citadel as advisor Thursday, 16 Apr 2015 | 10:59 AM ET

    BOSTON, April 16- Ben Bernanke, the former Federal Reserve chairman and one of the world's most closely watched economic thinkers, is joining one of the most successful hedge funds as an advisor, Citadel LLC said in a statement on Thursday. Last month former Federal Reserve Board governor Jeremy Stein joined BlueMountain as an advisor and Bernanke's...

  • JOHANNESBURG, April 16- South African investment house Brait SE is to pay $1 billion for a controlling stake in gym group Virgin Active, Brait said on Thursday, seeking to tap the growing health-conscious middle classes particularly in Africa and Asia. The fitness chain, jointly owned by the Virgin Group of entrepreneur Richard Branson and buyout firm CVC...

  • April 16- Blackstone Group LP, the world's largest alternative asset manager, said on Thursday that its first-quarter profit doubled from a year ago, as strong asset sales generated by its private equity and real estate units brought in record cash. For the second quarter in a row, private equity overtook real estate as Blackstone's biggest earnings driver,...

  • April 16- BlackRock Inc, the world's largest money manager, said on Thursday that first- quarter profit rose by 8.7 percent, boosted by positive flows across asset classes. On an adjusted basis, BlackRock earned $4.89 per share, handily beating analysts' average estimate of $4.52, according to Thomson Reuters I/B/E/S. BlackRock saw $70.4 billion in long-term...

  • Blackstone's first quarter earnings soar on asset sales Thursday, 16 Apr 2015 | 7:14 AM ET

    April 16- Blackstone Group LP, the world's largest alternative asset manager, said on Thursday that its first-quarter profit doubled from a year ago, as strong asset sales generated by its private equity and real estate units generated record cash. Blackstone said economic net income, a metric of its profitability takes into account the mark-to-market...

  • April 16- BlackRock Inc, the world's largest money manager, reported an 8.7 percent rise in first-quarter profit, boosted by positive flows into its exchange-traded funds. On an adjusted basis, BlackRock earned $4.89 per share, handily beating analysts' average estimate of $4.52, according to Thomson Reuters I/B/E/S. Net inflows totaled $68.7 billion as...

  • April 16- BlackRock Inc, the world's largest money manager, reported an 8.7 percent rise in first-quarter profit, boosted by positive flows into its exchange-traded funds. On an adjusted basis, BlackRock earned $4.89 per share, handily beating analysts' average estimate of $4.52, according to Thomson Reuters I/B/E/S. Net inflows totaled $68.7 billion as...

  • April 16- Carlyle Group LP has enlisted Mike Duke, former chief executive of Wal Mart Stores Inc, to the executive team that the asset management firm taps for advise on deals, the Wall Street Journal reported. They were part of the advisory board of the Tsinghua University School of Economics and Management in Beijing. He will continue to be a member of Wal Mart's...

  • UPDATE 1-Bernanke to advise hedge fund Citadel - NYT Thursday, 16 Apr 2015 | 3:38 AM ET

    Federal Reserve, has agreed to become a senior adviser to Citadel Investment Group, a $25 billion hedge fund founded by billionaire investor Kenneth Griffin, the New York Times reported on Thursday. Bernanke's predecessor, Alan Greenspan, joined hedge fund Paulson& Co as adviser in 2008. Jeremy Stein, a Federal Reserve Board governor for two years, joined hedge...

  • The Shanghai branch of China's central bank has ordered commercial lenders to check for risks in their margin trading business, and submit their margin trading accounts and list connected wealth management products. To caution against risks, China's top securities regulator, Xiao Gang, on Thursday urged stocks investors to be "rational and calm".

  • Bernanke to join hedge fund Citadel as adviser - NYT Thursday, 16 Apr 2015 | 1:20 AM ET

    Federal Reserve, will become a senior adviser to hedge fund Citadel Investment Group, the New York Times reported. Bernanke told the New York Times that he was sensitive to the public's anxieties about the "revolving door" between Wall Street and Washington and chose to go to Citadel, in part, because it "is not regulated by the Federal Reserve and I won't be doing...

  • Barclays investors urged to reject CEO's pay award Wednesday, 15 Apr 2015 | 7:34 AM ET

    LONDON, April 15- Barclays Plc shareholders should reject the British bank's remuneration policy, as pay for Chief Executive Antony Jenkins is "excessive", a shareholder advisory group said on Wednesday. Pirc, an independent group that says it offers advice to institutional investors with assets of more than 1.5 trillion pounds, said shareholders should...

  • The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 1.3 percent, to 4,380.5, while the Shanghai Composite Index dropped 1.2 percent, to 4,084.16 points. "Valuation of China's blue chips is still reasonable... but most of China's small-cap companies are expensive," said Huang Ruiqing, fund manager at Bosera Asset Management Co..

  • April 15- Turkish Islamic asset manager Alkhair Capital plans to launch new funds this year and will start a service to advise on Islamic bonds, or sukuk, its general manager said. Alkhair Capital, majority-owned by Bahrain's Bank Alkhair, is the only full-fledged Islamic investment firm in the country, with AZ Global and BMD Securities offering some...

  • NEW YORK, April 14- BlackRock Inc chief Larry Fink has asked the top executives of the 500 largest publicly listed U.S. companies urging them to take a long-term approach to create value for shareholders or risk losing his firm's support. BlackRock is the world's largest asset manager. Through March, buyback authorizations totaled $257 billion, the fastest...

  • NEW YORK, April 14- Larry Fink, chief executive officer of BlackRock Inc, has sent a letter to the chief executives of the 500 largest publicly listed U.S. companies urging for a long-term approach to creating value for shareholders or risk losing its support. BlackRock is the world's largest asset manager. The company made Fink's letter available to Reuters...