According to the new Rules and Regulations governing the Activities of the Treasury Securities Dealer for the year 2005, issued by the Ministry of Finance (MoF) on November 19th, 2004, both domestic and foreign banks or credit institutions may apply
Private banks and wealth managers saw their profitability improve substantially over the past 18 months due to recovering stock markets and to sales of high margin products, such as hedge funds and structured investments. Wealth managers in all the major
Hanseatische Investment GmbH (HansaInvest), one of the first German fund managers to secure salience to launch and run funds of hedge funds, has formed an alliance with Lyxor Asset Management to launch further funds. Lyxor, a French investment management company
Two senior insurance underwriters at Zurich American Insurance Co. pleaded guilty on Tuesday to misdemeanours related to bid rigging in the insurance market. The two men were facing felony charges, but agreed to cooperate with New York Attorney General Eliot
The third quarter earnings statement from Boston based Investors Bank includes an interesting statement by Chairman and CEO Kevin J. Sheehan. "Our new business wins include the recent execution of an agreement to provide middle office outsourcing services for approximately
New Star Investment Funds says its retail funds under management now exceed £5 billion. New Star is ranked the 16th biggest and is the largest independent retail fund manager in the UK. New Star says it believes much of its
The Bank of New York has been appointed by JO Hambro Capital Management to provide global custody, transfer agency, fund accounting and depositary services to its first UK onshore OEIC, which is expected to grow to £ 750 million within
Equalt Alternative Asset Management, a subsidiary of French banking group Calyon, has chosen SunGard's Reech Automatic Derivatives Pricer (ADEP) and Reech Analytics Library (REAL) to price its complex equity correlation products. Equalt describes its equity correlation products using Reech ADEP
Franklin Resources Inc., the largest publicly traded US money management firm, will likely settle charges This week that it improperly paid brokers to sell more of its fund. California Attorney General Bill Lockyer made the announcement last Thursday saying the
New York Attorney General Eliot Spitzer said he would prefer to see the insurance industry's state regulation transferred to federal authorities. Insurance companies have historically been regulated by the individual states, but the Spitzer probe, as well as several others