While the US securities industry posted strong gains in profits and revenues for first quarter 2004 compared to the previous quarter, indications are that the pace of growth has levelled off, according to the latest issue of the Securities Industry
ABN AMRO claimed today to have signed fourth party Continuous Linked Settlement (CLS) services mandates with Indian financial institutions representing more than 50 per cent of the Clearing Corporation of India's (CCIL) member organistions. This announcement follows the award of
DST International (DSTi)has hired Steve Cheng as head of product management for its HiDataWarehouse solution. Cheng has over 16 years' experience in the financial information and software industry gained in a number of senior international product marketing positions at Reuters
State Street has been appointed custodian to the Weir Group pension fund in the UK. State Street will provide global custody, fund accounting, foreign exchange and cash management services for The Weir Group's £400 million pension fund. WM Company, State
Five US brokerage houses are to pay a total of $625,000 in fines to settle allegations by the National Association of Securities Dealers (NASD) that they failed to halt late and unlawful trading in mutual funds. The Washington based self
The departure announced last week by investment bank CSFB of Co Chief Executive John Mack means Oswald Gruebel becomes and will remain its sole CEO. The departure marks Mack's second abrupt departure from a major investment bank, the 59 year
German insurer Allianz said it was very happy with the results of restructuring at AGF, the French insurer in which it owns a 58.5 per cent stake, and does not intend to increase in its stake any time soon. Chairman
UBS has named Huw Jenkins to be Global Head of Equities in the firm's Investment Bank, in which capacity he will also serve as a member of UBS Investment Bank's Executive Committee. Jenkins had been head of US Equities since
DST International (DSTi) says UK based Cavendish Asset Management, a private wealth manager with ₤300 million under management, has bought HiInvest (its set of front and middle office applications that includes HiFrontOffice, HiOrders, HiCompliance and HiPerformance) and HiPortfolio 3 (the
Peter Adams has been hired by ABN AMRO Mellon to head up their European Sales division. He joins ABN AMRO Mellon from State Street, where he was Managing Director of The WM Company. Adams worked in various roles at Deutsche