Gartmore, the 50.3 billion ($90.1 billion) UK fund manager owned by Nationwide Mutual Insurance of the US, says its five year old hedge fund division is now managing assets worth more than $4 billion. This follows the launch of its
Liberata, a UK based provider of outsourcing services to the pension fund industry, announced the appointment of Sir Andrew Foster, who retired as Chief Executive of the Audit Commission in August 2003, as Non Executive Director to its board. This
Staff at Clearstream Bank in London were surprised to learn last week that Maxim Worcester, formerly the head of communications at Deutsche Borse in Frankfurt, was returning to Germany to manage the Berlin office of the political and security risks
China's Big Four State owned banks Industrial and Commercial Bank of China (ICBC), Bank of Communications (BoCOM), China Construction Bank (CCB) and Bank of China (BoC) are likely to issue Rmb 300 billion of subordinated debt to boost their capital
Deutsche Bank may have been snubbed by Citigroup the buyer favoured by no less a matchmaker than the famed serial monogamist Chancellor Gerhard Schroder, according to press reports but the bank is still in the market for either a UK
ABN Amro CEO Rijkman Groenink has admitted that the Dutch bank is too small to initiate a major acquisition of its own, and therefore "think of other forms of co operation, such as mergers." The bank recently scrapped its soundest
The new CEO of BNP Paribas, which was foiled in its attempt last year to acquire Credit Lyonnais, says the bank is still "actively" seeking to spend some of its Euros 5 6 billion warchest on acquisitions as well as
The Bank of Butterfield, the Bermuda based offshore private banking group, has bought Leopold Joseph, the London based private bank best known for advising the Rolling Stones, for 51.5 million. Butterfield offered 950p per share, 44 per cent above the
A group of European fund managers, including AXA Investment Managers, Deutsche Asset Management, Fidelity Investments, Merrill Lynch Investment Managers and UBS Global Asset Management, are planning to establish a pan European trade association based in Brussels, according to a report
ADP Securities Industry Software (ADP SIS), a division of ADP Brokerage Services, has launched something called Auto Cage. The company says it uses real time MQ messaging technologies to automate manual cage activities, and so provides brokerage firms with "accelerated