The Confederation of British Industry says it supports the Pension Protection Fund proposed by the government but added that firms would be "dissatisfied" with government reassurances over the make up of the levy. Richard Greenhalgh, Chairman of the CBI's Pensions
Fidelity Investments is now earning a third of its revenues from insourcing payroll, health benefits and other administrative tasks from third parties. Boston based Fidelity, the world's biggest mutual fund company, said it added 1,175 new clients and 2.6 million
The Shinsei Bank IPO will raise $2.36 billion, after the issue was priced by lead managers Morgan Stanley and Nomura at Yen 525 per share, the top of the indicated range, for the start of trading on 19 February. The
ING Bank has clarified press reports in the Philippines that it has been fined for currency related transactions. It says that in August 2003, ING and the Philippines central bank Bangko Pilipinas Sentral (BSP) agreed that ING would pay a
Fortis Bank Information Banking has launched a corporate actions instructions tool, called GCA Web. The banks says the tool is linked to its global corporate actions system, and enables clients to instruct and validate corporate actions, monitor the processing of
Citigroup has formed a Global Transition Management business to service institutional investors restructuring their investment portfolios. "With the launch of this business, we have created a global platform to serve the institutional investor community leveraging the full breadth of Citigroup's
Northern Trust has reached an agreement with Institutional Shareholder Services (ISS) to by which clients can access corporate governance data on 7,500 global companies via Northern Trust Global Investor Passport. "By offering our clients ISS corporate governance data, we are
The Principal Financial Group says its Asian arm has acquired Hong Kong based Dao Heng Fund Management Limited (DHFM) from Guoco Group for an undisclosed sum. DHFM, a wholly owned subsidiary of Guoco, was incorporated in 1981. It services includes
The Bank of New York has been selected as depositary for the Grupo Modelo, S.A. de C.V. American depositary receipt (ADR) facility. Grupo Modelo, S.A. de C.V. produces and markets beer, including the brand names Corona, Modelo Especial, Victoria, Pacifico
The 2004 Barra Greenwich Associates survey of European and North American based CIOs found that 90 per cent of those surveyed expected assets under management to increase over the next 12 months primarily from market appreciation and new client mandates.