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Asset Management and Custody Banks

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  • NEW YORK, Dec 11- Citigroup Inc named Duncan Hennes, a co-founder of bank advisory firm Promontory Financial Group and a former CEO of Soros Fund Management, to its board of directors on Wednesday.

  • NEW YORK, Dec 11- Cisco Systems Inc Chief Executive John Chambers is facing growing pressure from investors to exit its television set-top box business, where revenue has been plummeting and profit margins trail the rest of the company.

  • LONDON, Dec 11- Cajoled by developed world governments and shocked by disasters such as the Bangladesh factory fire, investors in emerging market companies are looking more closely at environmental, social or governance issues before they buy.

  • HONG KONG, Dec 11- Shares in China Cinda Asset Management Co Ltd jumped as much as 17.3 percent in gray market trading on Wednesday, as retail investors who missed out on this year's biggest Asia Pacific IPO bought the stock on the eve of its listing.

  • China Cinda shares surge ahead of Hong Kong debut Wednesday, 11 Dec 2013 | 4:14 AM ET

    HONG KONG, Dec 11- Shares in China Cinda Asset Management Co Ltd jumped as much as 17.3 percent in gray market trading on Wednesday, as retail investors who missed getting shares in this year's biggest Asia Pacific IPO bought the stock on the eve of its Hong Kong listing.

  • MUMBAI, Dec 11- When Franklin Templeton's India unit wanted to launch a mutual fund that would switch allocation among stocks, bonds, gold and money markets, the Indian regulator baulked, deeming it too risky for domestic investors, according to the company.

  • Dec 11- British bus and rail operator FirstGroup Plc has received a letter from one of its biggest shareholders, urging the company to sell its U.S. businesses in order to pay down debt, the Financial Times reported.

  • MUMBAI, Dec 11- When Franklin Templeton's India unit wanted to launch a mutual fund that would switch allocation among stocks, bonds, gold and money markets, the Indian regulator baulked, deeming it too risky for domestic investors, according to the company.

  • *Gold on track for biggest three-day rise in about 2 months. NEW YORK/ LONDON, Dec 10- Gold rose 1.5 percent to a three-week high on Tuesday, boosted by technical buying and funds' short-covering in thin trade ahead of the Federal Reserve's December policy meeting in which it is expected to begin trimming its monetary stimulus.

  • *Founder Ercil was formerly Asia head of Perry Capital. *Opportunities for Asia distressed asset investment growing. ARCM, founded by Alp Ercil, the former Asia head of New York- based Perry Capital, has become one of the largest hedge fund companies in the region.

  • Sears to spin off Lands' End business Friday, 6 Dec 2013 | 6:47 AM ET

    Dec 6- Struggling U.S. retailer Sears Holdings Corp, led by hedge fund manager Edward Lampert, said it would spin off its Lands' End clothing business. The spinoff will be through a prorata distribution of Lands' End shares to shareholders, Sears said in a regulatory filing on Friday.

  • SINGAPORE, Dec 5- Bank statements for almost 650 of Standard Chartered Plc's private banking clients have been found on the laptop of an alleged website hacker in Singapore, the police and the British lender said on Thursday.

  • UPDATE 1-CIBC profit slips on charges Thursday, 5 Dec 2013 | 6:12 AM ET

    TORONTO, Dec 5- Canadian Imperial Bank of Commerce said on Thursday that its quarterly profit slipped 1.9 percent after one-time charges offset a rise in retail and wealth management income. The bank, Canada's fifth-largest, earned C $836 million, or C $2.05 a share, in the fourth quarter ended Oct. 31, compared with C $852 million, or C $2.02 a share, a year earlier.

  • Dec 4- Hedge fund Hayman Capital has taken a stake in General Motors Co and believes the U.S. automaker's stock could rise more than 40 percent over the next 12-18 months after the U.S. Bloomberg first reported news of the stake, which it called one of Hayman's largest investments.

  • Three organizations, the American Council of Life Insurers, the American Benefits Council and the Investment Company Institute, which represents the mutual fund industry, contributed to the research and published the study.

  • DETROIT, Dec 4- Hedge fund Hayman Capital has taken a stake in General Motors Co and believes the U.S. automaker's stock could rise more than 40 percent over the next 12-18 months after the U.S. Treasury sells its stake in the company, Bloomberg reported on Wednesday.

  • Hedge fund Hayman Capital takes stake in GM-report Wednesday, 4 Dec 2013 | 12:01 PM ET

    DETROIT, Dec 4- Hedge fund Hayman Capital has taken a stake in General Motors Co and believes the U.S. automaker's stock is poised to rise more than 40 percent over the next 12-18 months after the U.S. Treasury finishes exiting its stake in the company, Bloomberg reported on Wednesday.

  • Three organizations, the American Council of Life Insurers, the American Benefits Council and the Investment Company Institute, which represents the mutual fund industry, contributed to the research and published the study.

  • HONG KONG, Dec 4- Global fund managers are reaching outside Asia to tap growing demand for Chinese assets after authorities relaxed investment restrictions to promote the international use of the yuan.

  • *2014 comp plan raises small household minimum to $100 K from $75 K. NEW YORK, Dec 3- UBS Wealth Management Americas unveiled its 2014 compensation plan on Tuesday, offering new expense accounts to brokers who produce annual revenue of at least $550,000 and eliminating broker pay for client households with less than $100,000 in their accounts.

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