Europe Still Holds an Allure to U.S. Asset Managers
Despite seemingly bad news about the Eurozone every day, a surprising number of large U.S. asset managers are still attracted to a continent that accounts for 35 percent of the world's mutual fund assets.
Pimco, the Quiet Giant Among Commodity Investors
Pimco is well-known as the
world's largest bond fund. But how many people realize it is
also the largest investor in commodities, with a portfolio
dwarfing the more high-profile pension funds?
Citigroup Reaches $590 Mln Settlement Over CDOs
Citigroup Inc has reached
a $590 million settlement of litigation accusing the bank of
fraudulently concealing tens of billions of dollars of exposure
to risky collateralized debt obligations heading into the global
Northern Trust's Scott Murray: A Man of Action
In establishing centers of excellence for IT disciplines, EVP and CTO Scott Murray is helping Northern Trust's technology organization improve quality while the bank continues to grow.
Fidelity CIO Walks In His Father's Footsteps
Fidelity Institutional CIO Ron DePoalo began learning about Wall Street IT from his father at an early age. Now he is drawing on those lessons to to drive tech innovation and business alignment.
China's Markets: No Gain Without Pain
Despite a history of tight controls, China recognizes the need to reform its financial markets in order to trade effectively, and competitively, within the global economy.
Carlyle Near Deal With SocGen on TCW: Sources
Private equity firm Carlyle
Group LP is close to clinching a deal with Societe
Generale for the takeover of the French bank's Los
Angeles-based asset management arm TCW, three people familiar
with the matter said on Thursday.
Analysts Say Sharp Knight Discount Is Sensible
Knight Capital Group Inc shares
rebounded on Tuesday after a rescue deal that undercut existing
investors and left a number of open questions about the
embattled firm's valuation and plans.
AllianceBernstein's 2nd-Qtr Net Revenue Falls 12 Pct
U.S. asset manager AllianceBernstein
Holding LP said Thursday that second-quarter net revenue
and profit dropped sharply as the company unveiled an office
space reduction plan even more aggressive than the one it
started in 2010.
Errant Program Trade Seen As Cause of Knight Mayhem
Traders said a 'buy-program' that was executed by Knight Capital on the floor of the NYSE within a few minutes of the opening yesterday could have caused high volumes and wild price swings in 148 listed-stocks.