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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.
Deutsche's Advice To Investment Banks: Cut More Staff
Investment banks, set to book
$240 billion revenue this year, still need to cut jobs and costs
to make the industry profitable, Deutsche Bank said.
Nomura to Cut Another $1 Bln of Costs in Overseas Revamp
Nomura Holdings Inc,
Japan's largest investment bank, is cutting an additional $1
billion in costs in the second major restructuring of its
loss-making overseas operations in less than a year.
Barclays Signals Shift From Riskier Investment Banking
Barclays named retail
banker Antony Jenkins as chief executive on Thursday, signalling
a shift from riskier investment banking as it tries to recover
from the interest rate-rigging scandal that brought down his
predecessor.
China Smartphone Market to Overtake U.S. in 2012
China will overtake the United
States as the world's biggest smartphone market this year,
according to research firm IDC, which expects demand to grow for
lower-priced smartphones based on Google Inc's Android.
Pimco, the Quiet Giant Among Commodity Investors
Pimco is well-known as the
world's largest bond fund. But how many people realise it is
also the largest investor in commodities, with a portfolio
dwarfing the more high-profile pension funds?
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
financial meltdown.
Buy-Side Firms Fund Lab to Promote Supercomputing for Market Regulation
Infinium Capital Managment, Tudor Investment Corp., and AJO Partners are helping fund research aimed at stabilizing and enforcing an increasingly complex marketplace.
Knight Capital's Rogue Algorithm a Wake-Up Call to the Buy Side
A head trader at a firm with more than $200 billion under management tells Advanced Trading that the buy side generally puts a lot of blind faith in the tools provided by their brokers, almost to the point of complacency.
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.
Knight Capital Rescuers Let Scottrade In On Deal
The firms that rescued Knight Capital after its near-fatal software glitch earlier this month have sold some of their preferred stock in the firm to Scottrade.
Citigroup CEO Shows Shaky, Skewed Recollection of the Financial Crisis
In a speech Vikram Pandit gave this week in Singapore, he basically congratulated himself and Citigroup’s executive team on restructuring the company after the financial crisis. But that's not exactly how things went down.
Cosy World of Inter-Dealer Brokers Faces Shake-Up
Inter-dealer brokers, the
fast-talking middlemen who match buyers and sellers of complex
financial products, are under pressure to strike takeover deals
as business shrinks and regulators shine a light on their murky
trillion dollar markets.
trillion dollar markets.
RBS, Commerzbank Drawn into U.S. Iran Money Probe
U.S. authorities are
investigating Royal Bank of Scotland and Commerzbank
over possible breaches of sanctions on Iran, in a
widening crackdown which has already cost Standard Chartered
a hefty fine.
Hedge Fund Exit Requests Rise in August
Client demands to pull money out of hedge funds rose to their second-highest level this year in August, industry data showed.
Wall Street Is Leaderless, And That Might Be Fine
Wall Street has lost its most vocal advocate as investigations into JP Morgan's multi-billion dollar trading lost have sidelined Jamie Dimon, a Bloomberg article reports. But does the financial industry really need another Dimon?
Broker-Dealer Audit Problems Found in Madoff-Inspired Review
Nearly four years after Bernard Madoff admitted using his firm for a massive Ponzi scheme, the PCAOB says it is disturbed by problems that persist in audits of broker-dealers.
The Risk and Transparency Tango
Today's traders are not plagued with worries about flash crashes, macroeconomics or monthly jobs reports; instead, they are focused on riding the ups and downs of the trading day to maximize their portfolios and best serve their clients.
GOLD BOOK 2012: Heavy Focus on Algorithms, Less Cloud Technology Exploration
Despite the challenges buy-side traders face, this year's group of Quant Gold Book honorees have the drive and intelligence to reach their targets.
JPMorgan Picks Panel for 'Whale' Inquiry
JPMorgan Chase & Co has picked
Lee Raymond, ex-chief executive officer of Exxon Mobil Corp
, to head an inquiry by company directors into losses in
a credit derivative portfolio run by its London-based Chief
Investment Office, according to a source familiar with the
matter.
GOLD BOOK 2012: Northern Trust's Scott Murray Is 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.
Wells Fargo Raids Morgan Stanley For Advisers
Morgan Stanley better keep tabs on their fund managers because Well Fargo is going window shopping.
Taming the Wolverine: How To Control the Costs of Modern Trading
As Canadian brokers enter the global market, they must rethink how they do business.
Goldman Sachs Independent Research Arm Dies
Goldman Sachs has given up trying to sell research from independent analysts to its institutional clients, after spending millions of dollars on distribution only to find that big money managers had little interest.
Shunned By Clients, Goldman Independent Research Arm Dies
This may be a sign that major investors may no longer be prepared to pay for a diversity of opinion about the markets.
Hedge Funds Bet on Oil Spike as Israel Attack Fears Grow
"The rally you're seeing now is not because demand is up, but because fear is up," says one fund manager.
JPMorgan Chase, Deutsche Subpoenaed Over Libor
JPMorgan Chase, Deutsche Bank and Barclays are among a handful of banks recently subpoenaed in a joint New York-Connecticut investigation of possible Libor manipulation.
Corzine's Way: Lose a Billion, Start a Fund
In the ash heap of MF Global, the disgraced CEO not only might not go to jail, he just might start his own hedge fund.
U.S. Asks Fund Manager to Explain Insider Ties
Doug Whitman is the first among several insider trading trial defendants to gamble on taking the witness stand in the hope of winning an acquittal.
Peregrine CEO Indicted for Lying to Regulators
After a botched suicide attempt, the former CEO faces a maximum of 155 years in prison.
Man Overrides Machine To Tackle Low Bond Yield Risk
With government bonds from so-called "safe" countries tumbling, hedge funds are recalibrating their computer models.
Emerging Market Private Equity Deals Decline in First Half
Private equity funds that invest in emerging markets may have raised similar amounts of cash in the first half of 2012 than a year earlier, but they used less of it, the Emerging Markets Private Equity Association said on Tuesday.
StanChart CEO Takes Charge of Iran Probe Talks
Standard Chartered's Chief Executive Peter Sands has flown to New York to take personal control of the bank's attempts to reach a settlement with U.S. regulators over allegations it hid transactions involving Iran.
Flush European Share Investors Batten Down Hatches
European equity investors, flush
from the longest run of weekly gains in seven years on hopes
that central banks will act to calm the euro zone crisis and
boost global growth, are looking to protect their profits in
case of disappointment.
Japan Mutual Funds See Slower Inflows As Shares Dip
, an industry body said
on Monday.
Net buying of investment trust funds, a type of mutual fund
known as toushin among investors, totalled 49.5 billion yen
($633.07 million) in July, less than a fifth of the total net
purchases in the previous month, the Investment Trusts
Association said.
Buy-Side Order Management In Focus After Knight Capital Error
The latest technological hiccup on Wall Street will drive buy-side firms to push for more control of their orders during the trading lifecycle, according to Tom Haldes of Trading Technologies International.
How the Buy Side Can Protect Against Rogue Algos, Broker Error
In the aftermath of the fallout stemming from Knight Capital Group's disastrous trading error, Tabb Group's Miranda Mizen breaks down steps the asset management community can take to protect themselves from market mayhem.
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.
Knight Capital's Surprise $7 Billion Bounty
After its new trading algo went rogue, the market maker held a jaw-dropping $7 billion in stocks - and had to unload almost half or they would collapse.
TMX Group Offers Equity Pre-Trade Risk
Clients of the Toronto Stock Exchange operator now have new tools that keep a close eye on risk.
After Knight's Fall, Does Your Broker Have a Kill Switch?
After a trading algorithm executed by Knight Capital went rogue and lost the market-maker roughly $400 million in a single trading day, buy side traders need to know if their broker-dealers can stop a runaway trade. Advanced Trading spoke with Michael Chin, CEO of financial services firm Mantara, which offers a kill switch for brokers and the sell side to stop trades that start to misbehave.
Standard Chartered a Risk to US Custody Banks
Fallout from Standard Chartered alleged transactions with Iran could quickly become a liability to top U.S. custody banks, Bernstein Research analyst Brad Hintz said.
JPMorgan Asset Management Boosts Liquidity Team, Unveils Asia Pacific Fund
The asset manager also beefed up its global liquidity sales team with a new appointment.
Momentum Asset Management Opts for Charles River IMS
The South African asset manager said the move was driven by a need to better handle a growing client base.
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