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News & Commentary
Content tagged with Asset Management posted in August 2012
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Europe Still Holds an Allure to U.S. Asset Managers
Commentary  |  8/31/2012  | 
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
News  |  8/31/2012  | 
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
News  |  8/31/2012  | 
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
News  |  8/30/2012  | 
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
News  |  8/30/2012  | 
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
News  |  8/30/2012  | 
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
News  |  8/30/2012  | 
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
News  |  8/29/2012  | 
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
News  |  8/28/2012  | 
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
News  |  8/24/2012  | 
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
News  |  8/24/2012  | 
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
News  |  8/24/2012  | 
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
News  |  8/23/2012  | 
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
News  |  8/23/2012  | 
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
News  |  8/22/2012  | 
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
News  |  8/22/2012  | 
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
News  |  8/21/2012  | 
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
News  |  8/21/2012  | 
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
News  |  8/21/2012  | 
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
Commentary  |  8/20/2012  | 
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
News  |  8/20/2012  | 
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
News  |  8/20/2012  | 
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
News  |  8/19/2012  | 
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
News  |  8/17/2012  | 
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
Commentary  |  8/17/2012  | 
As Canadian brokers enter the global market, they must rethink how they do business.
Goldman Sachs Independent Research Arm Dies
News  |  8/17/2012  | 
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
News  |  8/17/2012  | 
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
News  |  8/17/2012  | 
"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
News  |  8/16/2012  | 
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
Commentary  |  8/16/2012  | 
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
News  |  8/16/2012  | 
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
News  |  8/16/2012  | 
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
News  |  8/15/2012  | 
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
News  |  8/15/2012  | 
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
News  |  8/14/2012  | 
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
News  |  8/14/2012  | 
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.

Alaska: The Next Libor Frontier?
News  |  8/13/2012  | 
US Hedge Funds Experience Stormy July
News  |  8/13/2012  | 
Japan Mutual Funds See Slower Inflows As Shares Dip
News  |  8/13/2012  | 
, 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
News  |  8/10/2012  | 
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
News  |  8/10/2012  | 
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
News  |  8/9/2012  | 
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
Commentary  |  8/9/2012  | 
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
News  |  8/9/2012  | 
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?
News  |  8/8/2012  | 
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
News  |  8/8/2012  | 
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
News  |  8/8/2012  | 
The asset manager also beefed up its global liquidity sales team with a new appointment.
Momentum Asset Management Opts for Charles River IMS
News  |  8/7/2012  | 
The South African asset manager said the move was driven by a need to better handle a growing client base.
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