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Asset Management and Custody Banks

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  • NEW YORK, June 18- Richard Zabel, the top deputy for 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 reviewed by Reuters on Thursday. A graduate of Princeton University and Harvard Law School, Zabel previously spent eight years as a...

  • LONDON, June 18- Asset management company Baillie Gifford, oil producer Dragon Oil's largest independent investor, said an increased takeover offer from majority owner Emirates National Oil Co "materially undervalued" the company. ENOC, which owns 54 percent of Dragon Oil, increased its bid to buy out minority shareholders to 750 pence per share on Tuesday,...

  • *Yields fall after Fed statement. NEW YORK, June 17- U.S. "I look at the economic outlook as pretty dovish," said James Camp, managing director at Eagle Asset Management in St. Petersburg, Florida.

  • *Yields fall after Fed statement. NEW YORK, June 17- U.S. "I look at the economic outlook as pretty dovish," said James Camp, managing director at Eagle Asset Management in St. Petersburg, Florida.

  • LONDON, June 17- Once mainly growth-based investments, emerging markets are seeing a dividend payout culture take root among companies, especially in countries where big local pension funds are pushing for change. With emerging equity performance lagging developed peers for the fifth year running, more companies are realising the role dividend payouts...

  • WASHINGTON, June 16- The White House has secured more than $4 billion to boost clean energy and fight climate change from foundations, institutional investors and philanthropies, doubling a goal set in February, administration officials said. Vice President Joe Biden told a conference on clean energy at the White House on Tuesday that a "staggering" number of...

  • Real estate lobby group deposes pro-regulation critic Tuesday, 16 Jun 2015 | 8:39 AM ET

    *Deutsche Bank arm cuts ties with lobby group. NEW YORK, June 16- Deutsche Bank's asset management arm has cut ties with the commercial real estate industry's top lobbying group after it deposed a leading critic who favors stricter market regulation. Deutsche's Adam Smith was elected to a key position at the Commercial Real Estate Finance Council, which styles...

  • WASHINGTON, June 16- The White House has pushed foundations, institutional investors and philanthropies to commit more than $4 billion to clean energy projects and help fight climate change, doubling a goal set in February, officials said. The administration issued a call to action early in the year asking them to make commitments on clean energy innovation,...

  • NEW YORK, June 16- The Vanguard Group, which in 40 years became the biggest mutual fund company by selling low-priced, market-matching funds, is competing with some of its best customers- the brokers and advisers who funnel client assets to its funds-- by offering personalized service to investors with more than $500,000. And the company has widened the pool of...

  • DUBAI, June 15- Qatar Investment Authority, one of the world's most aggressive sovereign wealth funds, will set asset allocation targets for the first time and restructure internal decision-making, sources say, in response to a drop in oil prices that has crimped available funds as competition for assets grows. The sources, who all either work in Qatar or for...

  • 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...