Custody

BA-CA To Purchase Eksimbanka

Bank Austria Creditanstalt has signed an agreement to purchase Eksimbanka, a Serbian bank headquartered in Belgrade. The sellers of the 58.7% majority interest are the German Investment and Development Company DEG, the European Bank for Reconstruction and Development (EBRD), the

SPARX Wins Japan Mandate From Skandia Investment Management

Skandia Investment Management Limited, the investment management arm of Skandia Group, has appointed SPARX Asset Management Co. Ltd for part of its Japanese equity exposure in its managed investment solutions. SPARX is one of Asia's largest independent asset managers, and

Moody's Raises SMBC Ratings

Moody's Investors Service has upgraded the long term debt ratings of Sumitomo Mitsui Banking Corporation (SMBC) to A1 from A3 and its subsidiaries including Sumitomo Mitsui Banking Corporation Europe Plc also to A1 from A3. SMBC's bank financial strength rating

CIBC Mellon Adds Latvia And Lithuania To Its Custody Network

CIBC Mellon has added Latvia and Lithuania to its network. It adds that the Riga Stock Exchange (RSE) in Latvia has an order driven and centralized trading system for dematerialized securities, with settlements via book entry through the central depository

UK Employers Voice Concerns Over UK Version Of The PBGC

The Confederation of British Industry (CBI) the UK employers' organisation has dubbed the government's Pensions Bill a "lost opportunity to restore employer confidence in pensions." The employers' organisation published a summary of business concerns as MPs agreed final amendments to

Norwich Union Launches New Full Advice Personal Pension

Norwich Union has unveiled a new personal pension designed to support the full financial advice process. The new pension product will be available from 13 December 2004 and will give customers the choice as to whether they pay for their

Fortis Enhances ABS And CMO Reporting Capabilities

Fortis has added a new reporting tool to its Asset Line reporting application. A new "Statement of Money Papers" gives detailed information on Asset Backed Securities and CMOs, including listing positions, pool factors, accrued interest and market value per client.

'Reasonable' Fund Management Fees Edge Downward

Investmart has put a figure on "reasonable" annual investment management fees 63bps. The latest reading of Invesmart's Retirement Portfolio Cost Barometer, which is designed to help participants and plan sponsors judge the competitiveness of their manager's fees, is down from