Being an enormous financial services group means being in lots of business and countries. As Citigroup is finding, it also means rarely missing involvement in a financial scandal. After allegations of warped equity research, Global Crossing, Enron, Worldcom,. the New
The Wachovia Corporate and Institutional Trust division has been appointed stock transfer agent to Florida based Winn Dixie Stores, a supermarket chain with 1,070 outlets in 12 states and the Bahamas. In addition to transfer agency, Wachovia will provide dividend
State Street has won a global custody and performance monitoring mandate from the DS Smith Group Pensions Scheme. Although DS Smith had a relationship with Deutsche Bank Global Securities Services, which State Street acquired last year, the new mandate includes
Last year saw UK pension funds enjoying their best returns since 1999, according to the Russell Mellon CAPS estimate of overall performance. The 15.8 per cent average return follows three consecutive years of negative performance. Despite the good news over
New anti money laundering rules came into effect in Norway today. The financing of terrorist activity is brought within the scope of the rules for the first time, and allowable exceptions to the obligation to produce proof of identity are
Close Wealth Management today made a seasonal pitch for more charitable fund management contracts by pointing out that UK charities have seen the value of their equity portfolios fall by 3.27 billion (or 11 per cent) over the past two
Russian President Vladimir Putin yesterday signed into law a retail deposit insurance bill that will ensure Russian depositors are compensated up to Roubles 100,000 (US$3,400) for any losses when a bank collapses. Coupled with a move to allow the Russian
Barclays has become the latest UK bank to admit that it is looking at outsourcing more functions to India to cut costs, risking problems with the trade unions over the export of jobs. UK banking union Unifi says that 1,700
SYWG BNP Paribas Asset Management says the China Securities Regulatory Commission has given the regulatory go ahead to SYWG BNPP AM, its fund management joint venture with Shenyin & Wanguo Securities Corporation. The joint venture company, which is registered in
Investors in Korean companies could face a tighter timetable when complying with the regulatory requirement to report shareholdings of above 10 per cent in Korean companies. A draft set of reforms published on Boxing Day by the Financial Supervisory Service