Canadian Imperial Bank of Commerce (CIBC), which has a joint custody venture in Canada with Mellon Trust, has urged the Canadian federal government to authorise mergers between banks and between banks and insurance companies to give domestic financial services groups
The Japanese government is reported to be considering an amendment to the laws and regulations governing mergers and acquisitions in Japan, to allow foreign firms to acquire Japanese companies using shares rather than cash as the acquisition currency. The Cabinet
The Bank of New York has been selected as successor depositary for ABSA Group Limited's American depositary receipt (ADR) facility. The company's ordinary shares are listed on the Johannesburg Stock Exchange.
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