News
Citigroup And JP Morgan Pay $300 Million To End SEC Probe Into Enron Roles
Citigroup and J.P. Morgan Chase have paid more than $300 million to settle charges that they helped Enron cheat investors. The settlement with the U.S. Securities and Exchange Commission and Manhattan District Attorney Robert Morgenthau ends an 18 month investigation
ING In Talks To Buy Belgian Retail Bank From AGF And Allianz
Dutch financial services group ING is in talks to acquire AGF Belgium Bank, a unit of French insurer AGF and German insurance group Allianz . With the acquisition of AGF Belgium Bank, ING Belgium and its Record Groep arm hope
Macgregor Wins Worrying Accolade From Deloitte & Touche
Can you grow too fast? Macgregor, the order management systems company Deloitte & Touche has just added to its list of the fifty fastest growing technology companies in New England, will be hoping not. The Deloitte & Touche "Technology Fast
Bank Of Bermuda Forms Hedge Fund Administration Joint Venture In South Africa
US Institutional Investors Use Portfolio Trading To Cut Costs, Says Greenwich Associates
Portfolio trades now account for two in five trades initiated by major Us institutional investors, according to a new study of a hundred large American investors, conducted in the early part of this year by Greenwich Associates. "It's becoming a
Equilend Cartel Chooses Radianz As Connectivity Supplier
EquiLend, the securities lending cartel formed in May 2001 by the major agent lenders and prime brokers, will use Radianz as preferred connectivity supplier. EquiLend whose founding members include Barclays Global Investors, Bear Stearns, Goldman Sachs, J.P. Morgan Chase, Lehman
Mellon GSS Hires O'Neill And Kent In Dublin, And Promises Expansion
Mellon Global Securities Services has appointed Kevin O'Neill as business development manager and Stuart Kent as client relations manager at its Dublin office . This month saw Mellon move into new office space in the Irish capital. The Harcourt Building
Korea Gives Securities Lending A Boost With Withholding Tax Reform
That staple of the securities lending industry the manufactured dividend is to get a new tax treatment in Korea. In essence, foreign lenders will no longer need to pay withholding tax on manufactured dividend paid to them by foreign borrowers.
Thailand Relaxes Exchange Controls
The Bank of Thailand (BOT) has announced a relaxation of exchange control regulations. Thai life insurance companies, government pension and social security funds, mutual funds, provident funds and "specialised financial institutions" will now be free to invest overseas in certain