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The world’s largest asset manager is far from being an activist investor, but it is starting to ask more questions, the New York Times reports.
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*Legg Mason board declines to explore idea-sources. NEW YORK, Jan 10- Legg Mason Inc has been approached in recent months by some of its senior managers and private equity firms with plans to take the struggling asset manager private, but the board has decided against exploring that option at least until the company has a new chief executive, three sources said.
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*BlackRock is largest ETF seller in Europe. ZURICH, Jan 10- BlackRock is to buy Credit Suisse's exchange-traded fund business that will give the U.S. asset manager greater scale in Europe. BlackRock is the largest ETF provider in Europe, with more than 42 percent of the $331 billion European ETF market.
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*Legg Mason board declines to explore idea-sources. NEW YORK, Jan 10- Legg Mason Inc has been approached in recent months by some of its senior managers and private equity firms with plans to take the struggling asset manager private, but the board has decided against exploring that option at least until the company has a new chief executive, three sources said.
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*Legg Mason board declines to explore idea-sources. NEW YORK, Jan 10- Legg Mason Inc has been approached in recent months by some of its senior managers and private equity firms with plans to take the struggling asset manager private, but the board has decided against exploring that option at least until the company has a new chief executive, three sources said.
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Jan 9- Morgan Stanley plans to slash 1,600 jobs in what may be just the beginning of a new round of layoffs at large investment banks, this time driven by a deeper reassessment of Wall Street businesses in the face of new regulations and capital standards.
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*Alcoa shares down after positive outlook for the year. *Herbalife up 4.2 pct on news hedge fund manager Loeb took stake. Herbalife Ltd stock rose 4.2 percent to $39.95 in its most active day of trading in the company's history, after hedge fund manager Dan Loeb took a large stake in the nutritional supplements seller.
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Jan 9- Morgan Stanley plans to cut 1,600 employees starting this week, two people familiar with the matter said on Wednesday, in the latest sign of a pullback on Wall Street as revenue from trading and deal-making remains in the doldrums.
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LONDON, Jan 9- Betting against the European Central Bank, and the eurozone's survival in general, proved a costly strategy for hedge funds in 2012..
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Jan 9- Morgan Stanley plans to cut 1,600 jobs in its investment banking unit, roughly 6 percent of staff in that unit, with employees being informed about job losses beginning this week, a person familiar with the matter said on Wednesday.
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SAN FRANCISCO, Jan 8- California Treasurer Bill Lockyer will urge the state's pension funds to sell investments in manufacturers of high-capacity ammunition clips, building on his push for them to divest from firearms manufacturers whose guns are banned in the state, a spokesman said on Tuesday.
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NEW YORK, Jan 8- James "Jes" Staley is leaving his job as chairman of the investment banking unit of JPMorgan Chase& Co to join a hedge fund that profited from the bank's $6.2 billion derivatives loss at the hands of the "London Whale" trader.
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The case involved whether the SEC waited too long to sue mutual fund manager Marc Gabelli and his colleague Bruce Alpert, chief operating officer of Gabelli Funds LLC, over a client's questionable trades.
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Mitul Kotecha, Head of Global FX Strategy at Credit Agricole says that despite ongoing discussion on the U.S. debt ceiling, the global economy is slowly improving, and therefore investors can look forward to better prospects this year.
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CHICAGO, Jan 7- U.S. soybean futures rose 1.6 percent on Monday due to technical buying after prices fell for four straight sessions last week to their lowest level since mid-November, traders said. If nothing else, the market is oversold, " Frank Cholly, a senior commodities broker at RJO Futures, said."
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If there were a banker version of sugarplums dancing in one's head, surely an easing of the liquidity coverage ratio would be it.
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CHICAGO, Jan 7- U.S. soybean futures rose on Monday due to technical buying after four straight losing sessions pushed prices to their lowest level since mid-November last week, traders said. If nothing else, the market is oversold, " Frank Cholly, a senior commodities broker at RJO Futures, said." Traders said gains were capped Argentina and Brazil.
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LONDON, Jan 7- European shares fell for the first time in 2013 on Monday, with utilities leading a broad retreat after a gloomy sector note from Deutsche Bank. "I don't think it's a great surprise that we see a pause," said Andrew Milligan, head of global strategy at Standard Life Investments, which has around 163 billion pounds of assets under management.
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TOKYO, Jan 7- Benchmark U.S. * "The range has re-set a few basis points higher, but I think some investors still think that this is not a time to be too short," said a fixed-income trader at a European asset management firm in Tokyo.
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Jan 4- With the fiscal cliff avoided and U.S. tax rates rising for higher income households, financial advisers have gone into overdrive to help their clients mitigate the negative effects while trying to benefit from the greater clarity.
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*Managed money net longs at $70 bln vs $67 bln year ago. Open interest in U.S. crude held by money managers fell from 77,717 lots worth about $8 billion to just around 13,391 lots valued at less than $1.3 billion, according to data from the U.S. Commodity Futures Trading Commission.