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Capital Markets Asset Management and Custody Banks

  • BOSTON, May 12- Asset manager BlackRock Inc on Friday said it voted in favor of a shareholder proposal calling on Occidental Petroleum to report on the impact climate change could have on the energy company's business, helping it to pass. An Occidental spokesman said via e-mail the shareholder resolution passed at the company's annual meeting, held in Houston,...

  • *Pimco achieves net inflows of 21 bln euros. FRANKFURT, May 12- German insurance group Allianz on Friday reported rising investment inflows at bond fund manager Pimco and stuck to its operating profit target for 2017.. Pimco had experienced several years of cash withdrawals in some of its main funds, including its flagship Pimco Total Return Fund.

  • May 11- Dow Chemical Co, which is merging with DuPont, said Chief Executive Andrew Liveris would retire as chairman of the combined DowDuPont company in July 2018. Liveris said in February 2016 he would retire by mid-2017, following a prolonged battle with hedge fund manager Daniel Loeb, who had been questioning his leadership. The investment plans include the...

  • May 11- Dow Chemical Co, which is merging with DuPont, said Chief Executive Andrew Liveris would retire as chairman of the combined DowDuPont company in July 2018. Liveris said in February 2016 he would retire by mid-2017, following a prolonged battle with hedge fund manager Daniel Loeb, who had been questioning his leadership. Dow also said on Thursday it would...

  • MILAN, May 11- Generali is looking to buy portfolio management teams to expand its asset management operations and beef up its fee-based business, the Italian group said after reporting a 9 percent fall in first-quarter profits on Thursday. Italy's biggest insurer said it aimed to boost group net profit by 150 million euros by the end of 2020 and expand assets...

  • PARIS, May 11- French bank Credit Agricole reported a near fourfold increase in first-quarter profit, as it moved on from a complex revamp of shareholding ties with its parent group and benefited from a surge in trading activity. Credit Agricole, whose asset management arm Amundi is buying rival Pioneer Investments from Unicredit for 3.6 billion euros, said net...

  • WASHINGTON, May 10- Barclays PLC will pay more than $97 million to settle civil charges that it overbilled its asset management business clients for tens of millions of dollars, U.S. regulators said on Wednesday. All told, the SEC said that Barclays overbilled customers by about $50 million. Another 63 brokerage clients paid excess mutual fund sales charges...

  • PARIS, May 10- AXA Chief Executive Thomas Buberl plans to overhaul the group's U.S. operations, proposing to float its American life insurance and asset management businesses in 2018 in order to free up capital and pursue takeover targets elsewhere. In the past investors have questioned whether AXA needs to retain two separate asset managers- AXA IM which is...

  • PARIS, May 10- AXA Chief Executive Thomas Buberl plans to overhaul the group's U.S. operations, proposing to float its American life insurance and asset management businesses in the first half of 2018 in order to free up capital. The move could allay some investors' concerns about whether it is necessary for AXA to retain two separate asset managers- AXA IM which is...

  • *Red Kite co-founder: supply of copper scrap grew earlier in year. HONG KONG, May 10- Supply of copper scrap has tightened recently after growing in the first quarter, while disruptions at major mines earlier in 2017 are hitting availability of the metal, the co-founder of metals hedge fund RK Capital Management, said on Wednesday. Some of the disruptions to mine...

  • *China planning trading link with Hong Kong for bond investors. HONG KONG, May 10- China's policymakers plan to open the doors wider than ever to foreign investment in the country's $3 trillion bond market, in part to help shore up the struggling yuan. Foreigners own less than 2 percent of China's $3.3 trillion in outstanding bonds and say getting their cash out of...

  • PARIS, May 10- France's AXA plans to float a minority stake in its life insurance and asset management operations in the United States in the first half of 2018, in order to strengthen its financial position. Gross revenue in life insurance coming from the United States accounted for nearly a quarter of overall results for the activity in 2016, according to...

  • PARIS, May 10- French insurer AXA plans to float its operations in the United States, combining life insurance and asset management, in the first half of 2018, it said on Wednesday.

  • *Red Kite co-founder: supply of copper scrap grew earlier in year. HONG KONG, May 10- Supply of copper scrap has tightened recently after growing in the first quarter, while disruptions at major mines earlier in 2017 are hitting availability of the metal, the co-founder of metals hedge fund RK Capital Management, said on Wednesday. Some of the disruptions to mine...

  • *Red Kite co-founder: supply of copper scrap grew earlier in year. HONG KONG, May 10- Supply of copper scrap has tightened recently after growing in the first quarter, while disruptions at major mines earlier in 2017 are hitting availability of the metal, the co-founder of metals hedge fund RK Capital Management, said on Wednesday. Some of the disruptions to mine...

  • *Asia earnings expectations at more than 3- year highs. "Markets are setting aside the many policy changes seen from the Trump administration and focusing on the improvement in corporate performance and that should support sentiment," said Tai Hui, chief Asia market strategist at JPMorgan Asset Management in Hong Kong. That has helped Asia as well, with 12- month...

  • SHANGHAI, May 10- China's lenders are swapping struggling corporates for more promising retail borrowers- restructuring branches, teams and even overhauling bankers' commissions in an unprecedented push that is fuelling a record jump in home loans. While retail lending also includes credit cards and consumer loans, mortgage lending has been a focus for...

  • May 9- Insurer Sun Life Financial Inc reported a smaller-than-expected profit on Tuesday, hurt by weak growth in its U.S market. Canada's third-biggest life insurer by assets said its underlying net income fell to C $573 million, or 93 Canadian per share, in the first quarter ended March 31, from C $582 million, or 95 Canadian cents per share, a year earlier.

  • PARIS, May 9- Natixis reported a 40 percent rise in net income for the first quarter on Tuesday, as trading activity at the French bank surged, echoing a similar performance among its peers. "Activity levels in global markets were especially high and our asset management business also attracted renewed net inflow in the USA," Natixis chief executive Laurent Mignon...

  • SHANGHAI, May 9- China's securities watchdog has launched a nation-wide inspection on brokerages' asset management business, sources said on Tuesday, the latest move in China's regulatory crackdown of risky investments and shadow banking. Brokerages, along with trust firms and fund houses, have been used by banks as a channel to guide deposits into risky...