The Luxembourg Government has abolished its 0.01% subscription tax for multi national corporations who wish to establish investment vehicles in Luxembourg to pool their cross border pension assets. Northern Trust, which welcomed the move, said it recognised the need of
JPMorgan Treasury Services has implemented the global derivatives business of Prudential Financial, Inc. (PFI) of the United States, as a CLS third party participant. PFI completed settlement with the Chicago Mercantile Exchange (CME) and the New York Clearing Corporation (NYCC)
American private equity specialists Carlyle Group has formed a consortium with American International Group jointly to make final bids for two South Korean asset managers, according to a Reuters report. British insurer Prudential has also submitted binding bids in a
Eureko may make acquisitions in emerging markets with the 250 million pounds ($455 million) cash it got from merging its F&C asset management unit with Britain's ISIS. Eureko, which is now focused on insurance activities, sold most of its stake
UnionBanCal Corp, the parent of Union Bank of California, is to buy Jackson Federal Bank from Britain's Prudential insurance company for $305 million, adding 14 branches in Southern California. Union Bank of California will pay $167.75 million in cash and
The Financial Services Authority (FSA), the UK financial regulator, has announced new rules for life insurers, in the hope that they will boost confidence in the industry and prevent further crises like the near collapse of Equitable Life. Under so
JPMorgan is servicing the American Depositary Receipt (ADR) programme of Mediaset S.p.A. With a market capitalisation of $13 billion, Mediaset is one of the largest broadcasting groups in the world and a member of 40 indices worldwide, including Italy's MIB30
JPMorgan Institutional Trust Serviceshas secured an ADR mandate from Desarrolladora Homex, S.A. de C.V.. The Culiacn, Sinaloa, Mexican based company builds entry level and middle income homes in Mexico.
While the US securities industry posted strong gains in profits and revenues for first quarter 2004 compared to the previous quarter, indications are that the pace of growth has levelled off, according to the latest issue of the Securities Industry