Nine insurance companies are set to pay J.P. Morgan Chase $568 million on surety bonds they issued to Enron Corp., under the terms of the settlement agreed on Thursday. This is less than the $965 million Morgan claimed. The pay
CIBC Mellon announced today that it has been appointed trustee and the sole custody provider for Canadian Pacific Railway (CPR). CIBC Mellon has a long history providing domestic custody to CPR but was named as the single service provider, including
A new Law on Customer Identification by Financial Institutions came into effect in Japan today. "With the enactment, the identification procedures which had already been in place under the guideline of the Japanese Bankers' Association will become legally mandatory practice,
The Bank of New York announced today that it has been selected as transfer agent and registrar by Vulcan Materials Company, a producer of industrial materials based in Birmingham, Alabama. "Because of the detail oriented nature of transfer and registrar
Dear Sirs, In relation to the information published by Global Custodian.com on Bank Handlowy revolutionizing Polish capital market dated December 17, 2002, I would like to draw your attention to the fact that ING Bank has been offering such solution
IBM announced today that it had finalised a seven year IT outsourcing contract with J.P. Morgan Chase, which the firm expects to be worth over $5 billion. JPMorgan Chase will outsource what IBM describes as "a significant portion" of its
Socit Gnrale, the French bank, announced today that Xavier Debonneuil, its head of investment banking, was killed in a car accident yesterday afternoon. Debonneuil was leading a strategic review of the business, which was expected to lead to the loss
The Securities Futures Commission (SFC) in Taiwan has announced that Qualified Foreign Institutional Investors (QFIIs) and General Foreign Institutional Investors (GFIIs) are allowed to accept subscription rights of new stocks transferred by the original shareholders of a listed company on
ABN AMRO and EDS announced today that they have reached an agreement on an IT outsourcing contract for ABN AMRO's Wholesale Client (WCS) Strategic Business Unit which includes corporate and investment banking services. The contract covers the provision of technology
The Bank of New York announced today that Naspers Limited has selected the Bank as depositary for its NASDAQ listed American depositary receipt (ADR) program. One ADR equals ten ordinary shares and trades on NASDAQ under the symbol "NPSN." The