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Asset Management and Custody Banks

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  • Hopes high for Thiam turnaround at Credit Suisse Sunday, 14 Jun 2015 | 9:31 AM ET

    ZURICH/ LONDON, June 14- Tidjane Thiam starts work as CEO of Credit Suisse next month with investors optimistic he can bring about a major change of strategy at the bank, even if he has to raise cash to do it. An expectation that the 52- year-old will successfully switch Credit Suisse's focus to lucrative Asian wealth management and shrink its cash-intensive...

  • *Hedge funds closing at rapid pace in Europe. In 2014, after 12 years building his business, Powe, 52, moved with his Powe Capital Management fund to join Man Group, the world's biggest listed hedge fund firm. While some will have retired, returned to banking or left the industry, others are following Powe and seeking an easier and less costly path to companies such as...

  • MEXICO CITY, June 12- BlackRock Inc, the world's largest asset manager, has agreed to buy a Mexican infrastructure investment fund that financed projects for a contractor at the center of a scandal which embroiled President Enrique Pena Nieto. BlackRock announced its deal to buy Infraestructura Institucional, also known as I Cuadrada, on Friday, but gave no...

  • *Plans to expand in U.S., set up in Dubai. The bank managed 10.7 billion Swiss francs at the end of 2014, and although that fell by 9 percent in 30 minutes on Jan. 15, when the Swiss National Bank unleashed a huge rise in the value of the currency, it has since recovered and grown again. "We are working on a 2016-2020 plan which involves getting our assets under management...

  • MEXICO CITY, June 12- BlackRock, the world's largest asset manager, plans to buy a Mexican infrastructure investment fund that financed projects for a contractor at the center of a scandal which embroiled President Enrique Pena Nieto. BlackRock's purchase of the fund would make it a partner with Hinojosa in one of the projects, a hospital in the State of Mexico,...

  • Outflows from energy ETPs continue in May -BlackRock Friday, 12 Jun 2015 | 10:27 AM ET

    Some $540 million exited energy ETPs globally last month, following net withdrawals of $1.2 billion in April, data from asset manager BlackRock showed. "The gains were getting a bit ahead of themselves given the elevated inventory levels," said Martin Arnold, global commodity and FX strategist at ETF Securities, an issuer of ETPs. He noted that OPEC had not cut...

  • *Bond sell-off brings liquidity concerns back into focus. *Regulation, ECB bond purchases shrink liquidity. LONDON, June 12- Before the crisis, Olivier de Larouziere of Paris- based Natixis Asset Management could sell 100 million euros worth of government bonds in a minute.

  • FRANKFURT, June 11- The head of the European Central Bank has defended a private discussion about money printing plans with a group of hedge funds, saying closed-door meetings with special audiences helped the ECB do its job. A top ECB official, Benoit Coeure, had said at a dinner in London attended by hedge funds, academics and bankers that the central bank would...

  • LONDON, June 11- Shares in Royal Bank of Scotland rose on Thursday after Britain's Finance Minister George Osborne said the government would start selling its 32 billion pound stake in the bank. Analysts said there would be significant interest from institutional investors willing to overlook ongoing issues relating to past misconduct at RBS and...

  • HONG KONG, June 11- China will likely quicken reforms to encourage more foreign investment in its markets after a decision by U.S. index provider MSCI Inc to hold off on including China's domestic shares in its emerging market index. Despite a recent acceleration of Beijing's reform agenda, MSCI said global investors wanted China to go further in removing...

  • TOKYO, June 11- Japan Post Holdings Co Ltd is in talks to start an asset management joint venture with Sumitomo Mitsui Trust Bank and Nomura Holdings Inc to sell mutual fund products at post offices, sources with the knowledge of the matter said. A Sumitomo Mitsui Trust spokesman declined to comment. Japan Post officials were not immediately available for...

  • Wealth management in the U.S. has been historically dominated by men, with women making up less than 12 percent of advisers, according to analytics firm Cerulli Associates. "We are very focused on increasing the number of female financial advisers and the number of women in our executive leadership team," said Greg Fleming, president of Morgan Stanley's wealth...

  • GLOBAL MARKETS-Stocks halt selloff, Treasury yields spike Wednesday, 10 Jun 2015 | 5:18 PM ET

    NEW YORK, June 10- U.S. shares rebounded sharply on Wednesday in the S&P's 500' s best day in more than a month, while longer-dated U.S. "It's a back and forth tug of war between investors in this trading range," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey "You've had a fairly decent pullback in the days up to now.

  • *Bally's sales up 3 pct since January. MONACO, June 10- Bally, the long-struggling Swiss leather goods maker, is back in growth mode after years of stagnant sales, buoyed by more contemporary designs and solid demand from Japanese and U.S. buyers, its chief executive said. Frederic de Narp said he aimed to lift Bally's annual sales to 1 billion euros within 5-10 years...

  • Although falling oil revenues have dampened inflows into sovereign wealth funds in the Middle East and elsewhere, the sector is still a huge pool of capital. For its Global Asset Management Study, Invesco Asset Management, part of Invesco Ltd., surveyed 59 state-owned investment funds worldwide with over $7 trillion of assets under management.

  • SAO PAULO, June 9- Foreign investors' optimism about Brazil remains unfounded even as it lessened somewhat in May, Verde Asset Management said in a monthly letter to clients distributed on Tuesday. Verde, Brazil's largest hedge fund with over 30 billion reais under management, cautioned that Brazil's fiscal outlook remains tough while its economy seems...

  • WASHINGTON, June 9- Swiss banks Société Générale Private Banking SA and Berner Kantonalbank AH have agreed to pay the United States multimillion dollar penalties under a resolution announced on Tuesday by the U.S. Justice Department.

  • SAYS REACHES RESOLUTION WITH SOCIÉTÉ GÉNÉRALE PRIVATE BANKING SA AND BERNER KANTONALBANK AG UNDER JUSTICE DEPARTMENT'S SWISS BANK PROGRAM.

  • TAKE A LOOK-Reuters Wealth Management Summit Tuesday, 9 Jun 2015 | 6:37 AM ET

    Fund managers and regulators in London, New York, Hong Kong, Singapore and Geneva will participate in the Reuters Wealth Management Summit from June 8-11 to discuss where people are putting their money and other topics, including alternative investments, digital currencies, millennial clients, consolidation and regulatory issues. >Merrill Lynch pivots to...

  • June 8- The California Public Employees' Retirement System intends to cut ties with roughly half of the firms handling its money to reduce fees paid to investment managers, the Wall Street Journal reported. Calpers, the largest pension fund in the United States, will tell its investment board on June 15 that it plans to cut the number of direct relationships it has...