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Asset Management and Custody Banks

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  • BEIJING, June 26- China's banking regulator said on Friday that it will allow the establishment of more private banks and allow foreign investors to participate in the reform process to help shore up the state-dominated financial sector. China's banking regulator last year approved five private banks to launch operations, as part of a pilot scheme to channel...

  • BEIJING, June 26- China will encourage qualified private investors to establish smaller banks but will control risks and the pace of establishment of new private banks, the country's banking regulator said on Friday. Domestic, state-owned and overseas investors will be treated equally in the process, the China Banking Regulatory Commission, said in a...

  • June 25- Scranton, Pennsylvania, Mayor William Courtright said on Thursday the state should take over the city's pension system after a report found problems with past benefit awards in one of the funds. Courtright, a Democrat, said the most recent report was a "wakeup call" and that he will ask for the support of Governor Tom Wolf in moving all of the funds to the...

  • Hedge funds say au revoir to glitzy Monaco bash Thursday, 25 Jun 2015 | 1:32 PM ET

    *Top industry conference heads to Amsterdam. MONACO, June 25- Ferraris, super-yachts and free-flowing champagne- for a decade, Monaco and hedge funds have gone hand-in-hand. As the warm Mediterranean sun set over Le Méridien Beach Plaza hotel in the small principality, attendees could look forward to next year's event in Amsterdam.

  • LONDON, June 25- Fund managers and investment professionals face a harder slog for less money as competition from the technology sector and mounting regulation squeeze easy profits, the head of the CFA Institute said on Thursday. Change should however be welcomed as a chance to correct the excesses of an industry that is still too opaque when it comes to...

  • ZURICH, June 25- Union Bancaire Privee plans to cut between 60 and 110 jobs initially after buying the international business of wealth manager Coutts from Britain's Royal Bank of Scotland, a source familiar with the matter told Reuters on Thursday. The Geneva- based private bank run by Guy de Picciotto, the son of the founder, hopes the deal will bolster business...

  • NEW DELHI, June 25- India's state social security and pension fund, undeterred by trade union resistance, will start investing in equity markets next month, the labor minister said, part of a broader push by Prime Minister Narendra Modi to move away from socialist ways rooted in decades-old labor laws. With more than $100 billion of assets from some 80 million...

  • ZURICH, June 25- Union Bancaire Privee plans to cut between 110 and 160 jobs initially after buying the international business of wealth manager Coutts from Britain's Royal Bank of Scotland, a source familiar with the matter told Reuters on Thursday. The Geneva- based private bank run by Guy de Picciotto, the son of the founder, hopes the deal will bolster business...

  • SAN FRANCISCO, June 24- A bill to require California's state pension funds Calpers and CalSTRS to sell their investments in companies that generate at least half their revenue from coal mining passed an Assembly committee by a vote of 5-1 on Wednesday. Stanford University and the University of Maine have made similar moves. It has investments in coal companies...

  • SAN FRANCISCO, June 24- A bill to require California's state pension funds Calpers and CalSTRS to sell their investments in companies that generate at least half their revenue from coal mining passed an Assembly committee by a vote of 5-1 on Wednesday. In the United States, Stanford University and the University of Maine have made similar moves.

  • SAN FRANCISCO, June 24- A bill to require California's state pension funds Calpers and CalSTRS to sell their investments in companies that generate at least half their revenue from coal mining received three of the four required votes in a preliminary count at a California Assembly committee on Wednesday. In the United States, Stanford University and the...

  • VANCOUVER, June 23- The global gold mining industry is showing signs of life as merger activity picks up and industry veterans set up new companies and hunt for projects, taking advantage of weak prices to lay the groundwork for a rebound. In the first quarter, Paris- based asset manager Carmignac Gestion bought 11.65 million shares of Goldcorp, the highest valued...

  • Hedge fund Citadel plans new stock picking business Monday, 22 Jun 2015 | 2:59 PM ET

    BOSTON, June 22- Citadel LLC, one of the world's largest hedge funds, is planning to launch a new equities business based on the West Coast that will be run by a former top executive who is returning to the firm after a few years away, a person familiar with the plan said. Jeff Runnfeldt is scheduled to start in July and eventually head a group of 10 trading teams based in...

  • BOSTON, June 19- Wealthy investors can now choose from a record 10,149 global hedge funds according to industry data released on Friday that show hundreds of new launches but nearly as many liquidations. During the first three months of 2015, 264 new funds were launched, according to Hedge Fund Research data. "The surprising number of hedge funds that have...

  • BOSTON, June 19- The hedge fund industry set a new record during the first quarter when an industry research group said 10,149 funds are operating around the world even after hundreds of existing funds shut their doors during the same time. During the first three months of 2015, 264 new funds were launched, bringing the number of global hedge funds to 10,149,...

  • GLOBAL HEDGE FUND LAUNCHES TOTALED 264 IN Q1, RAISING NUMBER OF TOTAL HEDGE FUNDS AROUND THE WORLD TO 10,149- HFR.

  • HEDGE FUND RESEARCH SAYS 217 HEDGE FUNDS WENT OUT OF BUSINESS IN Q1, HIGHEST NUMBER SINCE EARLY 2014.

  • *China Q2 copper demand weak, price to fall- trader. *Copper premiums drop $5 this week as tepid physical demand seen. Dominic Schnider, an analyst at UBS Asset Management in Hong Kong, said it was a concern that a recovery in China's manufacturing sector was not stronger given the scale of fiscal support by Beijing.

  • NEW YORK, June 18- The great commodities gold rush of the last decade may not have paid off exactly as investors hoped, but some evidence indicates the asset class is performing more or less as advertised. Global commodities assets under management are now at $266 billion, according to Barclays data, up from less than $100 billion in 2005 though down from a peak...

  • NEW YORK, June 18- Richard Zabel, the top deputy to Manhattan U.S. Attorney Preet Bharara, is leaving the Justice Department to become general counsel at the hedge fund Elliott Management, according to an internal Elliott memo seen by Reuters on Thursday. Attorney in Manhattan since 2011, helping to oversee a broad-based crackdown on insider trading,...