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Asset Management and Custody Banks

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  • April 7- Private equity firms Blackstone Group LP and Corsair Capital are in talks to acquire a major stake in First Eagle Investment Management, valuing the company at around $4 billion, including debt, according to people familiar with the matter. The negotiations with First Eagle's owner, buyout firm TA Associates, are expected to continue for weeks and a deal...

  • "We look for companies that have solid employee rankings and want to buy companies that have improvements in employee opinions," said Paul Ebner, a portfolio manager and member of BlackRock's scientific active equity group, a team of quantitative managers. At BlackRock, which has more than $4.65 trillion in assets, the company's 77- member quantitative team...

  • Marcato, which owns about 1.6 percent of BNY Mellon's stock, previously has called for the ouster of Chief Executive Gerald Hassell, saying he has missed profit targets and has failed to streamline the bank's expense base. Marcato, a $3 billion fund led by Richard McGuire, said BNY Mellon rivals, including State Street Corp, Vanguard Group and BlackRock Inc, have...

  • BOSTON, April 7- Wealthy investors protested the hedge fund industry's recent lackluster returns and high fees by pulling a net $4 billion out of the $2.5 trillion industry during the first two months of 2015, data released on Tuesday show. The number contrasts with the heady days of 2014 when investors added $31.6 billion of new money in January and February,...

  • Marcato, which owns about 1.6 percent of BNY Mellon's stock, previously has called for the ouster of Chief Executive Gerald Hassell, saying he has missed profit targets and has failed to streamline the bank's expense base. Marcato, a $3 billion fund led by Richard McGuire, said BNY Mellon rivals, including State Street Corp, Vanguard Group and BlackRock Inc, have...

  • DUBAI, April 7- A British asset manager is teaming up with a Tehran- based firm to establish funds that will invest in the Iranian securities markets, in a sign that flows of foreign money into Iran may not wait for economic sanctions to be lifted. London- based Charlemagne Capital, an emerging market asset management group with about $2.5 billion under management,...

  • April 6- Chicago- based independent wealth management firm HighTower Advisors LLC said it has hired an eight-member team which managed about $750 million in assets at Morgan Stanley. Bahnsen, who also serves as the team's chief investment officer, worked at UBS Financial Services before joining Morgan Stanley. Szytel began his career at UBS before moving to...

  • BOSTON, April 6- Ron O'Hanley, the new leader of State Street's $2.45 trillion asset management division, says he will look closely at expanding the bank's stable of bond-related products as exchange-traded funds run by rivals Vanguard and BlackRock have been more dominant in attracting investor money. The 58- year-old O'Hanley started his new job as the head...

  • April 6- Focus Financial Partners LLC added to its network the Fiduciary Group, a $600 million registered investment adviser based in Savannah, Georgia. The Fiduciary Group primarily provides wealth management, investment management and financial planning services to high net worth individuals and families, trusts and estates, closely held businesses, and...

  • DUBAI, April 3- Iranian investment banker Ramin Rabii says he shouted in joy when he learned that Tehran and world powers had reached a deal which promises to lift economic sanctions on Iran. Rabii, managing director of Turquoise Partners, a Tehran- based investment firm with about $200 million of assets under management, has been grappling for years with the...

  • April 2- Former UBS AG executive Hansruedi Schumacher pleaded guilty to conspiring to defraud the United States by helping wealthy Americans hide their money from tax authorities. Raoul Weil, who headed wealth management at Zurich- based UBS, was acquitted in November last year for helping thousands of U.S. taxpayers hide up to $20 billion in assets in offshore...

  • April 2- A federal bankruptcy judge in New Jersey on Thursday said she would approve an $82 million sale of Atlantic City's Revel Casino Hotel to Florida developer Glenn Straub. U.S. Bankruptcy Court Judge Gloria Burns said from the bench that she would sign off on the deal, the third one she has approved. Before that, Brookfield Asset Management backed out of its...

  • NEW YORK, April 2- Investors yanked $7.3 billion from the Pimco Total Return Fund in March as Pimco's flagship fund continued to reel six months after the exit of co-founder Bill Gross. The Pimco Total Return Fund remains the world's largest bond fund, although it is now only slightly bigger than the Vanguard Total Bond Market Index fund, which has assets of $116.8...

  • EXCLUSIVE-SOME TOP IBM INVESTORS ARE PRESSING ACTIVIST HEDGE FUNDS TO TAKE INTEREST IN STOCK-SOURCES.

  • The Los Angeles- based firm, whose co-founder Jeffrey Gundlach is renowned investor Bill Gross's fiercest rival in the bond market, said the DoubleLine Total Return Bond Fund, the firm's largest fund by total assets, also saw inflows in March. The DoubleLine Total Return Bond Fund, with $45.8 billion in assets under management, invests primarily in...

  • *Dan Cochran steps down as chief of staff. NEW YORK, April 1- Two members of UBS AG's Wealth Management Americas' executive committee have stepped down, while Robert McCann, the Swiss bank's most senior executive in the United States, is among six officials whose titles have changed from chief executive to president. Dan Cochran, 68, who joined in 2010 to coordinate...

  • April 1- California's state treasurer sent a stern letter to the state's teachers' pension fund on Wednesday, asking that the fund's managing partner, Cerberus Capital Management, fully divest from the assault weapon manufacturer, Freedom Group. Chiang asked that Cerberus' leadership attend CalSTRS' Investment Committee meeting on Friday "to explain why the...

  • BOSTON, March 31- Billionaire Steven A. Cohen's investments gained 7.5 percent in the first three months of 2015, according to a person familiar with the numbers, helping the former hedge fund manager extend his string of market-beating returns. The average hedge fund has gained 2.18 percent this year, research firm Hedge Fund Research reported.

  • WASHINGTON/ ZURICH, March 31- Swiss bank BSI has become the first of what is expected to be several dozen Switzerland- based private banks to reach a deal under a voluntary disclosure programme for tax-related offenses being run by the U.S. Department of Justice. Under a non-prosecution agreement signed on Monday, Lugano-based BSI will pay a $211 million penalty...

  • LONDON, March 31- Elliott Advisors, the rebel shareholder seeking a boardroom shake-up at Alliance Trust, rejected the trust's defence of its performance, costs and dividend policy on Tuesday, and reiterated calls for the election of three new directors. Using data from third parties including AIC, Bloomberg and MSCI, Elliott said that over all relevant return...