Sun Hung Kai Financial Group(SHKFG) has confirmed the appointment of Pershing to run the Group's new US trading and settlement engine. It aims to enable SHKFG clients to trade US stocks. The new trading system will first be introduced through
Citigroup announced on Thursday that its second quarter profits were down 73 per cent to a 6 year low, after setting aside $4.95 billion for legal costs related to its role in several corporate scandals. The bank said net income
Investors Bank & Trust has reported a 63% increase in earnings over the 2nd quarter of 2003. The bank enjoyed a 26% increase in revenue over the same period. Total assets processed for clients are now at $ 1.2 trillion,
The South Korean government has named preferred bidders for two state owned asset managers on Wednesday, including a group involving billionaire hedge fund financier George Soros. For the potential buyers of the firms, which analysts have estimated to be worth
Citigroup is to move 1,600 technology jobs out of Manhattan to Warren Township, New Jersey, New York Mayor Michael Bloomberg confirmed on Tuesday. In addition, the bank will hire another 650 employees over the next two years to work at
Mellon GSS has been awarded a contract to support TIAA CREF's new institutional asset management unit. Mellon will provide the unit with middle and back office outsourcing, accounting and custody, while its affiliate, Russell Mellon, will supply performance measurement and
A survey of the market shares of primary dealers in the Hungarian government bond market by the Hungarian Debt Management Agency (AKK) of activity between July 2003 and June 2004 has put ING Bank Hungary in pole position.
JPMorgan has reached an agreement with Societe Generale for the issuance of commercial cards in France, Romania, Poland, Russia and the Czech Republic. Under this agreement, JPMorgan will facilitate Visa and MasterCard commercial payment solutions for its multinational clients operating
UFJ Holdings one of the Big Four in Japan created by the merger of Sanwa Bank and Tokai Bank and Toyo Trust is selling its trust banking businesses to Sumitomo Trust and Banking. It also plans to reorganize its management
JPMorgan Investor Services (JPMIS) says it has been selected by the Merrill Lynch Insurance Group (MLIG) to provide global custody for its general account assets. JPMIS's relationship with MLIG began in October 2002 when JPMIS was selected to provide global