LONDON, Aug 1- Europe's investment banks are giving Wall Street a run for its money despite shrinking their trading arms more aggressively than U.S. rivals.» Read More
TORONTO, July 31- Canadian Imperial Bank of Commerce has named wealth management head Victor Dodig as its next president and chief executive, replacing Gerry McCaughey who will retire in September.
NEW YORK, July 31- The Pimco Total Return Fund, the world's largest bond fund, run by Bill Gross, is ending the month on a rough note, lagging 89 percent of its peers so far in July. Gross' successor, Mohamed El-Erian, resigned earlier this year, and the Pimco Total Return fund has had over $64 billion of net outflows since May 2013.
ZURICH, July 31- Family-owned Swiss private bank Rothschild Bank AG won't pay its owners, the descendants of the bank's famous founding family, a dividend this year, after it swung to a loss following a decision to cooperate with a U.S. tax evasion crackdown.
July 31- Asset manager Legg Mason Inc's net income rose 51 pct in the first quarter, driven by increased assets under management and lower operating expenses. Legg Mason's total operating revenue rose 3.5 percent to $693.9 million in the quarter, while operating expenses fell 2 percent to $574.3 million.
July 31- Asset manager Legg Mason Inc's quarterly profit rose 51 percent, driven by increased assets under management and lower operating expenses. Net income attributable to the company rose to $72.2 million, or 61 cents per share, in the first quarter ended June 30, from $47.8 million, or 38 cents per share, a year earlier.
July 31- Asset manager Legg Mason Inc's quarterly profit more than doubled, driven by increased assets under management and lower operating expenses. Net income attributable to the company rose to $72.2 million, or 61 cents per share, in the first quarter ended June 30, from $47.8 million, or 38 cents per share, a year earlier.
PARIS, July 31- BNP Paribas' capital markets business grew by a fifth in the second quarter- a signal clients have shrugged off the U.S. sanctions busting affair that pushed France's biggest bank to a second-quarter loss.
NEW YORK- ARGENTINA'S KICILLOF SAYS HEDGE FUNDS REJECTED ARGENTINA'S OFFER.
NEW YORK- ARGENTINA'S KICILLOF SAYS DOES NOT MAKE SENSE TO HAVE DEAL WITH HEDGE FUNDS AND NOT OTHER HOLDOUTS.
NEW YORK- ARGENTINA'S ECONOMY MINISTER KICILLOF SAYS HEDGE FUNDS DO NOT WANT TO ASK STAY ON DEBT RULING.
July 30- Franklin Resources Inc said on Wednesday investors withdrew $400 million from its municipal bond funds in the latest quarter, a trend that may continue in the short term on worries over Puerto Rico's chronic fiscal woes.
*Flows of Russian wealth to Singapore rising. *Banks in Singapore are clamping down on who they let in. New sanctions imposed by Washington and Europe over the Ukraine crisis have prompted firms such as VTB- Russia's second-largest bank by assets- and Gazprombank to look east for new sources of funding.
July 30- Franklin Resources Inc said on Wednesday investors withdrew $400 million from its Templeton municipal bond funds in the latest quarter, a trend that may continue in the short term on worries over Puerto Rico's chronic fiscal woes.
*Q2 post-tax ENI of 73 cents/ share vs estimated 74 cents. July 30- Carlyle Group LP said on Wednesday its second-quarter earnings doubled from a year earlier as one of its European buyout funds started paying performance fees, highlighting the growth potential of its private equity business in Europe.
July 30- Total global commodity assets under management rose to $325 billion in June 2014 from $317 billion in May 2014, Barclays Capital said on Wednesday. "We estimate that there was a small net inflow of around $300 million into commodity investments during June," the bank said.
Sanctions are intended to tighten the screws on Russia by targeting broad sections of its economy and financial markets.
NEW YORK, July 29- Institutional investors, like endowments and sovereign wealth funds, are trading some of their stock futures contracts for exchange-traded funds, an action they say saves them money and effort while providing comparable returns.
CLEVELAND, July 29- Casablanca Capital triumphed on Tuesday in its proxy battle with miner Cliffs Natural Resources Inc, preliminary estimates show, putting the hedge fund in a position to replace Cliffs' chief executive and sell off underperforming assets.
BOSTON, July 29- Hedge fund Elliott Management told investors that it added to its stake in Juniper Networks last quarter and sees opportunities in real estate securities in Europe, but it said little about two positions making headlines-- Argentina and EMC Corp..
July 29- JPMorgan Chase& Co, the biggest U.S. bank by assets, is slashing its technology support workforce in corporate and investment banking division following a revenue dip, Bloomberg News reported, citing people familiar with the matter. Offices affected include New York, Tampa, Chicago and Dubai, according to the report.