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Asset Management and Custody Banks

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  • WASHINGTON, May 9- Swiss asset management firm, Swisspartners Group, agreed to pay $4.4 million to the United States to settle a probe over whether it helped U.S. taxpayers evade their federal income taxes, the U.S. Department of Justice announced on Friday.

  • BOSTON, May 9- Like father, like son. The father and son duo have been laying the groundwork for months and Carl Icahn recently mentioned it quietly to some deep-pocketed friends who may want to commit cash, said the sources, who were prohibited from discussing the plan publicly.

  • NEW YORK, May 8- Investors in U.S.-based funds pulled more than $7 billion out of stock funds in the week ended May 7, more than the two previous weeks' worth of net inflows, data from Thomson Reuters' Lipper service showed on Thursday. Investors pulled $8.6 billion out of stock exchange-traded funds while committing $1.6 billion to stock mutual funds.

  • *Private banks beefing up Greater China, Singapore teams. SINGAPORE/ HONG KONG, May 9- Alibaba Group Holding Ltd's planned IPO is set to create a long list of multi-millionaires just from its partners in the company- music to the ears of private bankers seeking to cash in on the wealth created by China's tech sector boom.

  • *Dubai Q1 earnings jump 38 percent year on year. DUBAI, May 8- Dubai's bourse has outpaced other Gulf markets by a wide margin in terms of companies' first-quarter profit growth, data show, supporting its position as the top performer in the region.

  • WASHINGTON, May 7- The U.S. financial risk council on Wednesday raised red flags about new, potentially risky practices by asset managers and nonbank mortgage servicers, which they said are not regulated as carefully as banks. The sectors were highlighted by the Financial Stability Oversight Council in a report published on Wednesday.

  • NEW YORK, May 7- Samuel Israel, a hedge fund manager who faked his own suicide to avoid prison after admitting to running a $450 million fraud, is trying to shorten his 22- year sentence or be set free, saying his health has worsened and authorities can't take care of him.

  • *Customers like new Pimco leadership structure- Allianz CEO. MUNICH, May 7- Europe's biggest insurer Allianz defended its U.S. asset management business Pimco on Wednesday as it came under fire for failing to stem the flow of heavy investor withdrawals.

  • *Allianz posts slight fall in Q1 net income, revenue rises. But shareholders, including some of Allianz's largest, told Reuters last month that they were concerned about Pimco, the bond powerhouse that has had its reputation tarnished by a run of poor returns and the departure of CEO Mohamed El-Erian amid a row with co-founder Bill Gross.

  • NEW YORK, May 6- Hedge fund mogul David Tepper had a case of deja vu when he ranked as the best paid hedge fund manager for the second year running by earning $3.5 billion in 2013 with a savvy bet on airline stocks, according to a new ranking. Tepper, who runs Appaloosa Management, was followed in second place by Steven A. Cohen, who earned $2.4 billion.

  • *Barclays, Aberdeen weigh after weak updates. *DSM, Solvay boosted by brighter outlook. LONDON, May 6- European stocks were flat on Tuesday as upbeat outlook statements from chemical groups Solvay and DSM were offset by sharp falls in Barclays and Aberdeen Asset Management after weak results.

  • *Barclays, Aberdeen weigh after weak updates. LONDON, May 6- European stocks edged lower on Tuesday, as outlook statements from chemical groups Solvay and DSM were outweighed by a selloff in financial shares after weak results from Barclays and Aberdeen Asset Management.

  • WASHINGTON/ SINGAPORE May 6- Singapore has reached a tax information-sharing agreement with the United States under a new law meant to combat offshore tax dodging by Americans, a U.S. Treasury Department spokeswoman said on Monday.

  • NEW YORK, May 5- Global insurance firms are embracing risk in their portfolios this year, as they plan to increase allocations to alternative investments such as private equity and infrastructure debt, according to the third annual survey by Goldman Sachs Asset Management released on Monday.

  • HONG KONG/ SINGAPORE, May 5- China's only listed bad debt management firm Cinda Asset Management is offering bonds worth at least $500 million as it seeks to boost funding in anticipation of a spike in bad loans as economic growth slows.

  • HONG KONG/ SINGAPORE, May 5- China's only listed bad debt management firm Cinda Asset Management is offering bonds worth at least $500 million, its first U.S.-dollar denominated debt, two fund managers who attended a company presentation said on Monday.

  • HONG KONG/ SINGAPORE, May 5- China's only listed bad debt management firm Cinda Asset Management is offering bonds worth at least $500 million, its first U.S.-dollar denominated debt, two fund managers who attended a company presentation said on Monday.

  • BOSTON, May 3- A U.S. court rejected activist hedge fund manager Daniel Loeb's bid to force auction house Sotheby's to remove its shareholder rights plan, which limits the amount of stock he can buy.

  • *Goldman Sachs, Morgan Stanley global coordinators. ATHENS, May 2- Greece's largest lender, National Bank, will launch the bookbuilding process for its 2.5 billion euro equity offering on May 6 and announce the pricing of the new shares on May 9, an NBG official told Reuters on Friday.

  • May 2- Shares of Ares Management LP, the first U.S. private equity firm to go public in about two years, fell as much as 5.3 percent in their trading debut on Friday, adding to the list of underperforming IPOs over the past month. The company's shares fell to a low of $18 in early trading on the New York Stock Exchange, $1.00 below their offer price.