The Bank of New York has responded positively to proposals from the Financial Services Authority (FSA), the UK regulator, to tackle softing and unbundling (in its discussion paper, CP176) by limiting the scope for softing and bundling to execution services
Abdallah Nauphal, chief investment officer at Insight Investment, said that investment assets should be benchmarked against the future liabilities faced by pension funds. Nauphal laid out his vision for the future of investment management and Insight's approach to liability driven
The Bank of New York has enhanced its American depositary receipt (ADR) conversion platform, ADR Direct. The bank says it is now the only product to offer electronic trading and real time ADR conversions. The upgrade was launched by G
British car insurer Admiral Group has appointed Merrill Lynch and Citigroup as advisers for its IPO this autumn. Admiral said Merrill Lynch International had been appointed global co ordinator, bookrunner and sponsor for the proposed share offering, and Citigroup had
National Financial Partners said last week that New York Attorney General Eliot Spitzer has issued a subpoena to one of its affiliates seeking information about compensation agreements with insurance companies. The New York based company, whose chief executive, Jessica Bibliowicz,
A report this week by the Asset Management Expert Group, under the auspices of the European Commission, recognizes the importance of asset management as a distinct market sector. Such recognition, coupled with the industry's desire to create a genuine European
RBC Global Services, Institutional & Investor Services (IIS) was named best overall global custodian by "Global Investor" magazine in its 2004 annual Global Custody Survey. "RBC's reputation for providing quality client service has been exemplified in this year's Global Investor
The Hungarian Privatization and State Holding Company (APV Rt) plans to sell the nearly 4.7 million shares it holds in Richter Gedeon Vegyeszeti Gyar Rt., Hungary's leading drug manufacturer. APV RT announced a "single turn, open tender" to find a
China Life is being investigated by regulators in both Hong Kong and mainland China over the allocation of shares in its IPO last December, according to a report yesterday in the South China Morning Post. China Life is already facing
London Pension Funds Authority (LPFA) has reappointed JPMorgan Investor Services (JPMIS) as global custodian for its Ј2.8 billion portfolio for a further three years. JPMIS will also continue to provide investment accounting services and discretionary securities lending activities to the