Custody

SIA Praises SEC Regulations On Broker Research

The Securities Industry Association (SIA) today commended the Securities and Exchange Commission (SEC) for its latest effort to improve the quality and integrity of research reports, calling the regulation approved today a "prudent, thoughtful" measure in building investors' trust and

Lyonnais Contender BNP Paribas Down 10 Per Cent In 2002

BNP Paribas published its results for 2002 today. Pleading in mitigation the difficult external environment, chairman Michel Pebereau argued that a 10.4 per cent fall in revenue, was a good result under the circumstances. BNP Paribas Group's net banking income

Marco Baggioli Joins JP Morgan ADR Group In London

Marco Baggioli, the former chief of Monte Titoli in Milan, has joined JP Morgan as vice president and head of its American Depositary Receipt (ADR) Group for Europe, Middle East and Africa (EMEA). He follows former JP Morgan Milan colleague

German Arm Of AXA Appoints JPMorgan Global Custodian

JPMorgan Investor Services announced today that is relationship with AXA has expanded to include the custody business of AXA Investment Managers Deutschland GmbH. It gives Morgan control of assets valued at EURO 9 billion in 20 to 24 special funds.

BBVA Sells Its Brazilian Bank

BBVA announced today that it had sold its Brazilian affiliate, BBV Banco, to Banco Bradesco, S.A. in exchange for a stake in the latter's share capital. The two banks will ratify the agreement when the pertinent Due Diligence has been