Buttonwood Tree Group, the consultancy company, has appointed Ian Ackerley as head of a new business transformation consultancy practice focused on the life and pensions industry. This new Buttonwood Tree practice aims to support clients on a range of strategic
The Bank of New York today has sold an equity stake of approximately 5 per cent, or 14,450,000 shares, in Hong Kong based Wing Hang Bank. The bank explains the sale as part of its "continuing strategy of re allocating
Misys US subsidiary Summit Systems says the Federal Home Loan Bank (FHLB) of Boston has bought the Summit system to manage its investment and funding portfolios along with its associated hedging activities. A phased rollout will be conducted with the
ADP Brokerage Services Group says that Wachovia Capital Markets has signed a multi year agreement to use ADP Wilco's Gloss system for its international securities trade processing. ADP Wilco's international system solution, the Gloss Bureau, will handle Wachovia's trade lifecycle
JPMorgan Investor Services (JPMIS) says it has been appointed as custodian for US$25 billion of Danish and global assets by PFA Pension, the largest supplier of company pension plans in Denmark. "We are delighted with this mandate and look forward
ICAP, the inter dealer broker, is to go head to head with Man Group by launching an independent global futures business. Humphrey Percy, a banker, has joined ICAP with a mandate to build a market leading futures operation. "There is
The Securities and Exchange Commission (SEC) is expected to ban mutual fund managers from paying higher commission to fund distributors that promote their funds to investors. Paul Roye, director of the investment management division at the SEC, said yesterday that
Old Mutual, the South African pensioned fund management group, says that US$1.7 billion was withdrawn from its US fund management business, Pilgrim Baxter, during December mainly by institutional accounts. It followed an SEC investigation into the company as part of
The London Stock Exchange (LSE) is cutting the prices it charges its biggest users, according to a report in the Financial Times today. The LSE has buried the price cuts somewhere on its web site, where nobody can find them,
The Norwegian tax authorities have introduced a 3 year statute of limitation on withholding tax reclaims, effective from 1 April, 2004. This means any tax reclaims filed later than 3 years from the payment date will not be honoured, unless