GO
Loading...

Asset Management and Custody Banks

More

  • PARIS, Nov 14- The French economy eked out 0.3 percent growth in the third quarter, the highest reading in over a year but not enough to lift the euro zone's second-largest economy out of its gloom nor fight rampant unemployment. We won't have a robust and lasting growth with that, "Natixis Asset Management chief economist Philippe Waechter said.

  • Third Point steps up pressure on Dow Chemical Thursday, 13 Nov 2014 | 7:29 PM ET

    Hedge fund Third Point is considering launching a proxy contest at Dow Chemical after negotiations over board seats broke down on Thursday.

  • BOSTON, Nov 13- Hedge fund Third Point is considering launching a proxy contest at Dow Chemical Co after negotiations over board seats with the largest U.S. chemical company broke down on Thursday, two sources familiar with the talks said. Third Point, one of Dow's biggest investors with a 2 percent stake, had been talking to the company for months and was told last...

  • Hedge funds poised to pile into China via 'connect' Thursday, 13 Nov 2014 | 6:20 PM ET

    When the landmark Hong Kong-Shanghai equity link debuts on Monday, hedge funds are expected to plunge into mainland shares.

  • HONG KONG, Nov 14- When the landmark Hong Kong- Shanghai equity link debuts on Monday, a class of investors that China has kept at arm's length until now- hedge funds- are expected to plunge into mainland shares. Beijing aims to control inflows and volatility hikes by imposing a daily quota of 13 billion yuan plus restrictions on short selling. "The Chinese government...

  • BOSTON, Nov 13- Hedge fund Marcato Capital Management has bought a 1.6 percent stake in the Bank of New York Mellon, becoming the second prominent activist investor in recent months to disclose a position in the world's largest custody bank, according to a regulatory filing. San Francisco- based Marcato's stake is valued at $688 million, making it the biggest...

  • ACTIVIST HEDGE FUND MARCATO CAPITAL MANAGEMENT TAKES STAKE IN BANK OF NEW YORK MELLON- REGULATORY FILING.

  • Manulife, Canada's largest insurer, earns the bulk of its profit in North America but also has a fast-growing Asian unit. Insurance sales fell 19 percent in the United States, where Manulife owns John Hancock, and slumped 23 percent in Canada. Toronto- based Manulife said insurance sales rose 46 percent in Asia, while wealth management sales surged 74 percent.

  • 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...

  • NEW YORK, Nov 7- Pacific Investment Management Co has created a 225 million-euro award program to retain top talent after the surprise departure of co-founder and Chief Investment Officer Bill Gross, Allianz SE said on Friday. The bonus is expected to cost an average of 33 million euros before taxes for each of the next five quarters and 10 million euros for each...

  • NEW YORK, Nov 7- The Vanguard Group was the latest U.S. asset manager to post record monthly inflows into its bond funds for October, benefiting from an exit of funds from rival Pacific Investment Management Co. after the departure of its co-founder Bill Gross. BlackRock Inc's bond funds posted record monthly inflows of $5.2 billion in October, the most investors...

  • BOSTON, Nov 6- Welcome back "Big Oil." The strong balance sheets and diversified global operations of majors like Exxon Mobil Corp, Chevron Corp and BP plc, have sheltered index funds and some active portfolio managers from the worst of a volatile ride on energy markets, where oil prices have plunged 21 percent since early August. The $33 billion Ivy Asset Strategy...