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Asset Management and Custody Banks

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  • SAO PAULO, Dec 3- Credit Suisse Group AG plans to open a hedge fund in Brazil called Gauss next year to offer new investment alternatives for clients, such as volatility arbitrage, executives said on Wednesday. The hedge fund, named after "the prince of mathematicians" Carl Gauss, will be managed by Fabio Okumura, former head of proprietary trading at Itaú Unibanco...

  • SAO PAULO, Dec 3- Credit Suisse Group AG plans to open a hedge fund in Brazil called Gauss next year to offer new investment alternatives for clients, such as volatility arbitrage, executives said on Wednesday. The hedge fund, named after "the prince of mathematicians" Carl Gauss, will be managed by Fabio Okumura, the former head of proprietary trading at Itaú...

  • TORONTO, Dec 3- Royal Bank of Canada reported a stronger fourth-quarter profit on Wednesday as gains at its core personal and commercial banking and wealth management businesses offset weakness at its capital markets arm. Canada's largest bank reported net income of C $2.3 billion, or C $1.57 a share on a fully diluted basis, for the fourth-quarter ended Oct. 31,...

  • TORONTO, Dec 3- Royal Bank of Canada reported a stronger fourth-quarter profit on Wednesday as gains at its core personal and commercial banking and wealth management businesses offset weakeness at its capital markets arm. Canada's largest bank reported net income of C $2.3 billion, or C $1.57 a share, for the fourth-quarter ended Oct. 31, compared with C $2.1...

  • TORONTO, Dec 3- Royal Bank of Canada reported a stronger fourth-quarter profit on Wednesday, helped by double-digit earnings gains at its wealth management arm. Canada's largest bank reported net income of C $2.3 billion, or C $1.57 a share, for the fourth-quarter ended Oct. 31, compared with C $2.1 billion, or C $1.40 a share, a year earlier. The bank said cash diluted...

  • The fund, run by ex- Credit Suisse traders George "Beau" Taylor and Trevor Woods, runs a diversified energy-related portfolio, but the slump in oil prices to five-year lows after the OPEC meeting was a key driver, the sources said. Pierre Andurand, founder of the BlueGold fund that had gigantic gains during the 2008 oil market slump, made 18 percent last month at his...

  • Treasuries fell on Tuesday, with prices pressured by a Wall Street rally and institutional investors readying for a $6 billion corporate bond deal from leading retailer Amazon. "Today was primarily about the rebound in equity prices," said Ian Lyngen, senior government bond strategist at CRT Capital in Stamford, Connecticut. "There is a lot of corporate issuance...

  • Calgary, Alberta- based Mawer Investment Management Ltd has C $26 billion in assets under management, up from just C $5 billion in 2008.. "We have obviously a lot of clients in Canada that want to have a portion of their investments in Canadian dollars, so we do," Mawer President Michael Mezei told Reuters. Its large-cap Canadian Equity Fund has outperformed the...

  • *Saipem, Salzgitter slide as Russia scraps pipeline project. BP featured among the top gainers, up 3.6 percent, with several traders citing market talk of a takeover bid from rival Royal Dutch Shell. Shares in Italian oil services group Saipem and German steelmaker Salzgitter bucked the trend, tumbling 8.6 percent and 8 percent respectively after Russia...

  • Nelson Peltz resigns from Legg Mason board Monday, 1 Dec 2014 | 6:45 PM ET

    Dec 1- Activist investor Nelson Peltz resigned from the board at Legg Mason Inc to focus on other commitments, the asset manager said on Monday. Peltz, Chief Executive and a founding partner of Trian Fund Management LP, was chairman of Legg Mason's corporate governance committee. Under Chief Executive Joseph Sullivan, who took charge in February 2013, Legg Mason...

  • Stock markets could gain despite Big Oil's pain Monday, 1 Dec 2014 | 10:43 AM ET

    LONDON, Dec 1- Despite hundreds of billions of dollars wiped off energy company shares since June by the slide in oil prices to a five-year low, there are reasons to be cheerful about the likely future impact on global stock markets. If current prices hold through 2015, global GDP growth could rise by around 0.3 percentage points, or around $250 billion, according...

  • *Oil at $70 wouldn't cause growth to collapse. DUBAI, Nov 30- Middle East fund managers expect to put money back into Gulf stock markets in coming months once the shock of the plunge in oil prices fades, the latest Reuters survey of regional asset managers shows. The slide of Brent crude to $70 a barrel last week, from around $115 in June, has shifted the outlook for the...

  • LONDON, Nov 28- A currency-rigging scandal and an intensifying squeeze on their fees are driving fund managers to scrutinise how much they pay for the foreign exchange they need to buy overseas assets. Consultancy New Change FX reckons that in a typical UK pension fund with half its money invested abroad and two-thirds of that FX exposure hedged, currencies...

  • BUENOS AIRES, Nov 27- Argentina has charged HSBC with aiding more than 4,000 clients to evade taxes by stashing their money in secret Swiss bank accounts, the country's AFIP tax authority said on Thursday. AFIP said it received the information on the secret accounts from France, which last week placed HSBC's Swiss private banking arm under formal investigation...

  • BUENOS AIRES, Nov 27- Argentina has charged HSBC with aiding more than 4,000 citizens to evade taxes by stashing their money in secret Swiss bank accounts, the country's AFIP tax authority said on Thursday. AFIP said it received the information on the secret accounts from France, which last week placed HSBC's Swiss private banking arm under formal...

  • HONG KONG, Nov 27- Rapid reforms by Beijing allowing foreign companies to move funds from their China operations across borders relatively freely is boosting treasurers' confidence in using the yuan as the preferred currency for doing business. That has changed in less than three years with Beijing now allowing multinationals to transfer yuan out of China...

  • Tiger Global, which manages roughly $14.5 billion in hedge fund and private equity portfolios, wrote to investors in a Nov. 25 letter seen by Reuters, that it wants to raise as much as $1 billion in new capital at its Tiger Global Long Opportunities fund. Co-founded by Chase Coleman, Tiger Global was seeded by hedge fund industry veteran Julian Robertson and ranks...

  • UPDATE 2-Kellogg and Abraaj battle for Egypt's Bisco Misr Wednesday, 26 Nov 2014 | 9:38 AM ET

    CAIRO, Nov 26- The battle for control of Egyptian cake and biscuit maker Bisco Misr intensified on Wednesday as Abraaj Investment Management raised its initial bid to trump a rival offer from Kellogg Co.. UAE- based Abraaj, the Middle East's largest private equity firm, raised its offer to 80.58 Egyptian pounds per share, exactly two percent above a bid of 79 pounds...

  • Nov 25- The U.S. Justice Department is investigating allegations that an employee of HSBC Holdings Plc leaked confidential client information to a major hedge fund, the Wall Street Journal reported, citing people with knowledge of the matter. The alleged leak is believed to have taken place in March 2010, when HSBC was advising British insurer Prudential Plc on...

  • WASHINGTON, Nov 25- HSBC Holdings Plc will pay $12.5 million to resolve charges that its Swiss private banking unit illegally offered services to U.S. clients without being properly registered, the U.S. Securities and Exchange Commission said on Tuesday. The SEC said HSBC's Swiss unit amassed 368 U.S. accounts, and its employees traveled to the United States at...