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Asset Management and Custody Banks


  • But a series of failed deals, including the collapse of a $55 billion tie-up between UK drugmaker Shire and U.S. peer AbbVie, has led to losses for some of the world's biggest proponents of the strategy, with investors pulling out $3.3 billion in the last two months alone. "The AbbVie/ Shire break, in particular, has led to a far reaching de-risking exercise for many...

  • Nov 13- Canada's Manulife Financial Corp reported a third-quarter core profit that narrowly missed analysts' expectations, as insurance and wealth management sales declined in Canada and the United States. While North America is the main drivers of the company's profit, Manulife has targeted Asia as a key growth area and reported strong sales in countries...

  • *Expects to raise $7 bln- $8.5 bln from asset sales by mid-2016. Nov 12- Dow Chemical Co raised its asset sale target by as much as 42 percent to $8.5 billion and increased its share buyback plan by $5 billion, as it looks to thwart hedge fund manager Daniel Loeb's push to split the company. Shares of Dow Chemical, which also raised its quarterly dividend to 42 cents per...

  • Nov 12- Dow Chemical Co, the No. 1 U.S. chemical maker by sales, increased its dividend and said it would buy back shares worth $5 billion, more than doubling its share repurchase program. Dow, which is being pushed by hedge fund manager Daniel Loeb to split up, said it would complete its previous $4.5 billion share repurchase program by the end of the year.

  • LONDON, Nov 11- Asia- focused bank Standard Chartered plans to cut up to 100 retail branches in 2015, or 8 percent of its network, to help save $400 million a year to improve profitability. Ten years of record earnings for Standard Chartered came to an abrupt halt in summer 2012 when it had to pay $667 million for violating U.S. sanctions on Iran. Standard Chartered...

  • Magistrate Judge Janet King in Atlanta rejected a claim by Steven Slawson, co-founder of Titan Capital Management, that his May indictment should be tossed because it did not allege he knew an insider disclosed illegal tips for personal gain. Attorney Sally Quillian Yates in Atlanta did not respond to requests for comment on Monday. Meanwhile, a federal...

  • WASHINGTON, Nov 10- The U.S. Supreme Court on Monday left intact California hedge fund manager Douglas Whitman's conviction for insider trading relating to two trading schemes from 2006 to 2009.. Prosecutors said one scheme led to more than $900,000 of illegal profit from trading the shares of Google Inc and video-conferencing company Polycom Inc, and the...

  • Nov 10- KKR& Co, which led the acquisition of oil and gas producer Samson Resources Corp for $7.2 billion in 2011 and has already sold almost half its acreage to cope with lower energy prices, plans to sell its North Dakota Bakken oil deposit worth less than $500 million as part of an ongoing downsizing plan, according to people familiar with the matter.

  • Nov 9- Deal makers and private equity employees are expected to receive the biggest hikes in bonuses this year on Wall Street, according to a forecast by compensation consulting firm Johnson Associates. "A mixed bag of fortunes awaits Wall Street professionals this bonus season, despite a moderately positive year across the financial services industry," said...

  • Russell Investments, Ft. Lauderdale fund ax Pimco Friday, 17 Oct 2014 | 8:49 AM ET
    Bill Gross

    Russell Investments and the Fort Lauderdale Police & Fire Retirement System dropped PIMCO as their bond portfolios manager following the exit of Bill Gross.

  • Goldman Sachs in talks to buy ETF provider: Sources Thursday, 16 Oct 2014 | 11:37 PM ET

    Goldman Sachs is in discussions to acquire IndexIQ, an exchange-traded fund provider, according to three sources familiar with the situation.

  • Bill Gross says happy to get back to investment roots Saturday, 4 Oct 2014 | 6:45 PM ET
    Bill Gross

    "Managing money is in my blood," Bill Gross, who is the co-founder of Pacific Investment Management Co., told Barron's this weekend.

  • Citigroup faces curbs on hedge fund sales: Report Friday, 22 Aug 2014 | 6:24 AM ET

    Citigroup says it cannot sell investments in hedge funds and private-equity funds to clients after a deal with the SEC, according to the WSJ.

  • Japan overhauls its massive public pension fund Monday, 21 Apr 2014 | 11:36 AM ET
    Japanese Prime Minister, Shinzo Abe.

    Japan overhauled the world's biggest public pension fund in a push toward Prime Minister Shinzo Abe's goal of a more aggressive investment strategy.

  • Alibaba.com's headquarters in Hangzhou, China

    Last June, an affiliate of the Chinese e-commerce giant Alibaba made an offer to its hundreds of millions of users: Give us your cash, and we will pay more than Chinese banks wil

  • SEC to push 'tick size' for small-cap stocks Friday, 21 Feb 2014 | 9:35 AM ET
    Securities and Exchange Commission Chairman Mary Jo White.

    The SEC will press ahead with a pilot that will allow small-cap stocks to trade in wider increments, the chair announced Friday.

  • Top hedge funds cling to eBay, Apple in fourth quarter Saturday, 15 Feb 2014 | 7:15 AM ET
    Carl Icahn

    E-commerce auction house eBay became a darling among top U.S. hedge funds in the fourth quarter just before billionaire activist investor Carl Icahn urged the company to spin off its PayPal payments business, regulatory filings showed on Friday.

  • State fund finds Loeb's Third Point too risky Monday, 3 Feb 2014 | 9:07 AM ET
    Dan Loeb, founder and chief executive officer of Third Point.

    Daniel Loeb's hedge fund will be losing Rhode Island as a client after the state's pension fund found his Third Point too risky.

  • Legg Mason to pay $21M to settle US civil charges Monday, 27 Jan 2014 | 12:42 PM ET

    A unit of asset manager Legg Mason will pay more than $21 million to settle civil cases with that accused the company of hiding losses from investors.

  • Cohen's SAC Capital said to gain 20% for year Tuesday, 31 Dec 2013 | 4:23 PM ET
    Steven A. Cohen

    Billionaire investor Steven A. Cohen's SAC Capital Advisors returned 20.10 percent this year, even as it pleaded guilty to insider trading charges.