Admiral Group, a British car insurance company, is talking to banks about a possible initial public offering later this year. The Cardiff, Wales based firm could be worth between GBP 60 and GP 800 million. Admiral is owned by Barclays
Franklin Resources, manager of the Templeton mutual funds, yesterday reported quarterly earnings up 58 percent. But the firm said it was taking a pre tax charge of $60 million to cover costs related to official investigations into improper trading. The
US earned a record $10.16 billion in investment commissions and fee income in 2003, according to The 2003 Year End Bank Insurance & Investment Fee Income Report, published by Michael White Associates. Based on data reported by all 8,254 commercial
The Bank of New York has appointed Jennifer Averre Beeson as senior relationship manager for UK and European Pension Funds. Averre Beeson joins the bank from financial services group HHG plc, formerly AMP UK, where she was business development manager.
The Bank of New York Company, Inc reported first quarter net income of $364 million and diluted earnings per share of $0.47. This compares with net income of $295 million and diluted earnings per share of $0.41 in the first
CanDeal and CIBC Mellon said they have linked up their two systems in a development that will likely enhance straight through processing (STP) in Canada. DealXpress 2.0, CanDeal's proprietary STP system, now allows investment managers to electronically pass matched trade
Fitzrovia International's says all collective investment funds in Luxembourg enjoyed growth of 36% in total net assets last year, jumping to $1,199.7 billion from $ 883.2 billion in the year ended Dec. 31, 2003. While part of this growth can
The Polish Parliament has voted to adopt the Financial Collateral Act which establishes basic ground rules for both collateral and cash providers in financing transactions, paving the way for the development of the repo market there. The growth of a
Sophis says Volteq Capital, an Amsterdam based long short volatility arbitrage hedge fund manager, has gone live with Sophis VALUE for front office, middle office and risk management purposes. Volteq Capital launched the GED Arbitrage Fund Limited, a long short
ABN AMRO says that Natexis Banques Populaires has gone live as its first CLS third party participant in France. It follows news that Indover Bank had gone live as the first CLS third party participant in the Netherlands. Natexis went