The Bank of New York has been re selected by the Treasurer of the State of Ohio to provide global custody and foreign exchange services for the State Teachers Retirement System of Ohio's $12 billion in global assets. Patrick E.
Computershare Limited UK today has acquired a further 15% stake in the National Registry Company (NRC), one of Russia's leading registrars, taking its total holding in the company to 45%. Computershare acquired the stake from the International Finance Corporation, and
An advisory panel to the Minister of Justice in Japan has recommended a revision of the commercial code to simplify merger and corporate spin off procedures in Japan. Implementation, which is expected in 2006, aims to speed up the restructuring
State Street says its Investor Confidence Index has dipped in June. According to the index, investor confidence declined by 6.4 points to 85.5, from a revised May 2004 reading of 91.9. Developed by Harvard University professor Ken Froot and Paul
Michael Alix, chair of the Securities Industry Association's Risk Management Committee and senior managing director, Bear Stearns, told the House of Representatives Financial Services' Subcommittee on Financial Institutions and Consumer Credit that Basel II is a good thing. The CSE
Wachovia, the fourth largest US bank, has bought SouthTrust Corp for $14.3 billion in stock. It will enable Wachovia to expand in the fast growing south east of the US. The price puts SouthTrust stock at a 20 per cent
British insurer Royal & Sun Alliance is in talks to sell its UK life assurance operations. The company said discussions were at an early stage and that figures mentioned in weekend press reports were "purely speculative." Royal & Sun is
Canada's Sun Life Financial plans to open more branches in China next year to profit from the fast growing insurance market, its chief executive said yesterday. The Toronto based firm has run a joint venture with China Everbright Group Ltd
ING declined to comment yesterday on market rumours it is considering the disposal of its US reinsurance business. "This is just a rumour in the market. We decline to comment on a possible sale," said a spokesman. But analysts believe
Technical difficulties prevented Banca Intesa issuing settlement status and confirmation reports for much of yesterday. Normal service was resumed at 3.00 p.m.