The boards of Gjensidige NOR and Den norske Bank (DnB) have agreed to increase the cash consideration in their merger terms from NOK 23 per share to NOK 43 per share in Gjensidige NOR. The new terms still mean a
RiskMetrics Group, the financial analytics firm, has bought from JP Morgan the Arrakis analytics technology which underpins the bank's web based private banking system, Morgan OnLine. By the terms of the acquisition, RiskMetrics Group will assume control of the system's
Businessmen read newspapers. How else to explain the fact that one in four companies (26 per cent) expect to experience some form of terrorist attack over the next two years, according to research released today by think tank RAND Europe
Northern Trust claimed today to be enjoying an unusually high rate of success in winning business from insurers. It says new clients include ACUITY, Hawaii Medical Service Association, Medmarc Insurance Group, and USAA. These wins, and nine others, including the
The UK Trades Union Congress (TUC) has told the government that its Green Paper on pension reform is not enough. The TUC told the government today, in its submission on the document that far more needs to be done. In
The pace of consolidation in Scandinavian banking and insurance could accelerate if proposals recently put forward by the Norwegian government are passed into law. A bill now before the Norwegian Storting (Parliament)proposes the abolition of ownership restrictions on Norwegian banks
Malysia, which earned the opprobrium of the industry when it imposed exchange controls during the Asian Flu of 1997 98, today loosened them a little. The central bank, Bank Negara Malaysia (BNM), has announced a liberalization designed to make it
The Financial Times reports today that Todd Christie, CEO of the Spear Leads & Kellogg correspondent clearing operation owned by Goldman Sachs, has stepped down. Christie was a partner in the firm, which Goldman bought for $6.2 billion in 2000.
Custodians struggling to persuade clients to use their execution services may or may not be pleased to learn that electronic execution is poised to boom as the market fragments and institutional investors acquire a taste for lower prices. At least
Institutional investment by UK pension funds, insurance companies and unit and investment trusts seems to have fallen dramatically in the final quarter of last year. Figures published today by the Office of National Statistics (ONS) in London found total net