VP Securities Services (VP) chairman Sven Lystbk lauded the current consolidation between central securities depositories (CSDs) in the Nordic countries when addressing shareholders at the company's annual meeting. "For years, VP has discussed consolidation among CSDs. The recent Letter of
Admiral Group, a British car insurance company, is talking to banks about a possible initial public offering later this year. The Cardiff, Wales based firm could be worth between GBP 60 and GP 800 million. Admiral is owned by Barclays
US earned a record $10.16 billion in investment commissions and fee income in 2003, according to The 2003 Year End Bank Insurance & Investment Fee Income Report, published by Michael White Associates. Based on data reported by all 8,254 commercial
The Bank of New York Company, Inc reported first quarter net income of $364 million and diluted earnings per share of $0.47. This compares with net income of $295 million and diluted earnings per share of $0.41 in the first
CanDeal and CIBC Mellon said they have linked up their two systems in a development that will likely enhance straight through processing (STP) in Canada. DealXpress 2.0, CanDeal's proprietary STP system, now allows investment managers to electronically pass matched trade
ABN AMRO says that Natexis Banques Populaires has gone live as its first CLS third party participant in France. It follows news that Indover Bank had gone live as the first CLS third party participant in the Netherlands. Natexis went
Wachovia Corporate and Institutional Trust has been appointed custodian for the State of Arizona Insurance Commission. Headquartered in Phoenix, Ariz., the Insurance Commission was established to execute state insurance laws protecting insurance consumers and encouraging economic development. "We are pleased
Calamos Investments has given State Street a mandate to provide fund accounting and administration services for the Illinois based entity. The chores will encompass Calamos' equity oriented closed fund offering, the Calamos Strategic Total Return Fund. Launched in February 2004,
Changepoint Corporation said in a report that compliance initiatives will require a multi billion dollar investment from the financial services industry over the next few years and that IT will be theprimary target., The report, "Managing the Challenge of Regulatory
French insurer Axa is in a position to make acquisitions in its chosen markets of Western Europe, the United States, Japan and Australia, Axa's chief executive told newspaper Le Monde." Even if internal growth is our daily priority, we are