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May 22- Foreign banks that once treated Russia as an undiscovered country where easy money could be made are now finding it a cut-throat market tougher than some bargained for.
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NEW YORK, March 8- Numeric Investors is putting itself up for sale, Mike Even, president and chief executive officer of the Boston- based asset management firm told Reuters on Friday. The quantitative equity manager, with $7.7 billion in assets under management, has hired Barclays PLC to oversee the sale, Even said. A Barclays spokesman declined to comment.
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*Fitch downgrades Italy after Europe's closing bell. PARIS, March 8- European shares hit their highest level in 4-1/ 2 years on Friday after robust U.S. jobs data fuelled expectations of a pick-up in global growth while central banks' keep policy supportive.
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Walters, who is known as "Buz," will also become vice chairman of global investment banking when he joins Bank of America later this year, the memo said. A spokeswoman for Bank of America confirmed the contents of the memo.
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Hong Kong, March 8- Bank of America Corp will seek more lending and cash management business with companies in Asia and elsewhere outside its U.S. home turf, Chief Executive Brian Moynihan said, an area ripe for expansion where it lags its big rivals.
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March 8- New York City's public pension funds on Friday joined in an effort to oust two Hewlett-Packard Co directors because of their support for the company's 2011 acquisition of British software maker Autonomy.
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March 8- New York City's public pension funds on Friday joined in an effort to oust two Hewlett-Packard Co directors because of their support for the company's 2011 acquisition of British software maker Autonomy.
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Three Massachusetts residents on Thursday accused Boston- based Fidelity of using income generated from retirement fund assets to offset Fidelity's own operating expenses.
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DUBAI, March 7- Islamic fund managers in the Gulf are increasingly choosing foreign domiciles for their products, favouring their cost- efficiency and reputation for strong regulation as investors seek to avoid any suspicion of money laundering or tax evasion.
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The National Conference on Public Employee Retirement Systems' leadership did make the decision to hold their 2013 annual conference at a luxury resort in Hawaii before the financial crisis struck, hammering public pension funds' investments and leaving them with a funding gap of at least $770 billion.
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FRANKFURT, March 6- Porsche Automobil Holding SE said 12 hedge funds have decided to drop out of a U.S. lawsuit accusing the German automaker of causing them losses by fraudulently cornering the market for Volkswagen AG shares.
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LONDON/ ZURICH, March 6- The chief executive of one of Europe's most talked-about new hedge fund firms has stepped down in a bid to save costs after a big investor pulled its support, people familiar with the situation said.
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Even amid declining stock market correlation, active managers are still having a tough time staying competitive.
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*Private pensions a new business in Turkey. ISTANBUL, March 6- Turkey could see half a million new private pension contributors this year thanks to changes in regulation, boosting a nascent fund management industry and luring global portfolios.
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LONDON, March 06- Major asset managers, cowed by the cost, the risk and the controversy involved in investing in farmland, are joining forces to increase investment in the historically under-capitalised sector.
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NEW YORK, March 6- Hedge fund operator Citadel LLC is cutting 25 to 30 jobs, including Senior Managing Director Matt Cushman, as it consolidates the technology and support teams linked to its automated trading operations, a person familiar with the situation said on Wednesday.
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TORONTO, March 5- Strong wealth management returns boosted profits at Canada's big banks in the first quarter of 2013 as healthy gains in global stock markets drove investors back into the market and powered the fees lenders charge for advice and trading.
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LONDON, March 5- Hedge fund managers could be next in line after bankers to see further restrictions on their pay if European lawmakers follow through on promises to target the sector's lucrative payouts.
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NEW YORK, March 5- The Dow Jones Industrial Average surged to a record on Tuesday, breaking through levels last seen in 2007 as investors poured money into blue-chip stocks in expectation of more gains amid signs of a strengthening U.S. economy.
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COMMENTS: STEPHEN WOOD, CHIEF MARKET STRATEGIST AT RUSSELL INVESTMENTS IN NEW YORK, WITH ABOUT $180 BILLION IN ASSETS UNDER MANAGEMENT:. It will still be volatile from here, and we're expecting high-single digit returns for U.S. equities on the year, but it looks like China is making a commitment to stimulus and Europe realizes it has very serious issues.
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"Central banks are protecting the downside for now but the question is for how long," said Lex van Dam, hedge fund manager at Hampstead Capital.