The European Union is set to roll out new rules in 2005 that would curb malpractice techniques practiced by insurance brokers, such as financial ties with a particular firm. The rules set strict requirements for insurance brokers, including the obligation
Russell Investment Group will begin seeking multiple exchange listings of options based on its family of 21 U.S. equity indexes beginning January 1, 2005. At the start of the year, options exchanges that have obtained a license from Russell will
The Bank of New York has appointed Tom Casteleyn a former Capco consultant to manage its relationship with ING. The relationship between ING and the American bank which formed a commercial alliance with the Belgo Dutch bancassurer two years ago
A US federal judge has approved Citigroup's $2.6 billion settlement with WorldCom Inc. investors who lost billions when an accounting scandal plunged the telecommunications company into Chapter 11. With the settlement approved, Citigroup has resolved one of the biggest class
Credit Suisse Group is still exploring all options for its Winterthur insurance unit, which it has said is no longer part of its core business even though it has become a major contributor to group earnings, according to a Reuters
WM Performance Services has released the results of the WM Performance Services Swiss Balanced Universe for the third quarter of 2004. The median manager in the Swiss Balanced Universe returned 0.1% for the quarter, up from 1.1% in the previous
RBC Global Services says it now offers BENCHMARK RiskManager, a web enabled risk management tool using RiskMetrics software that aims to provide clients with estimation techniques to help identify and measure sources of risk within investment portfolios. "Risk management has
The Bank of New York has been appointed by Great West Life & Annuity Insurance Company to provide custody, insurance trust and securities lending services for approximately $8.5 billion of invested assets. The assets represent those of Canada Life's former
Singapore Exchange Limited (SGX) and index provider FTSE Group (FTSE) have signed a memorandum of understanding (MOU) to explore the creation of internationally recognised indices for the Singapore and regional markets. Under the MOU, SGX and FTSE will undertake a
Bank Austria Creditanstalt (BA CA) has purchased Hebros Bank in Bulgaria. The bank, which was created through the merger of eight state owned banks in 1993, is being sold by SWC BV and SWR Investments, both independent investment management companies.