Deloitte Touche Tohmatsu is expected to complete the spin off of Deloitte Consulting within weeks, according to Reuters. After the management buyout, Deloitte & Touche will keep as much as a 20% stake in the consulting business, which will be
The US junk bond default rate fell in January and February, but will likely remain high in 2003, according to Fitch Ratings. The trailing 12 month US junk bond default rate, based on par value of bonds defaulting, fell to
Making an exception to its policy of not commenting on mergers acquisitions, Cullen Frost yesterday issued a press release noting that "The people who incorrectly claimed that Citigroup approached Cullen Frost are so wrong they don't have a clue." The
JPMorgan Investor Services announced today that YMCA Retirement Fund has extended its relationship with the bank to include global custody. The fund has $3.2 billion in assets. JPMorgan has provided depository and treasury services to the YMCA Retirement Fund for
Reech Capital PLC is to provide Credit Agricole Indosuez with its proprietary derivatives script, ADEP, and its web based user interface for their fixed income exotic derivatives business. Reech describes the transaction as a "global deal, that will see the
The Bank of New York announced today that it had acted as depository bank to an issue of American depositary receipts (ADRs) by the Mitsubishi Tokyo Financial Group
Mako Investment Managers (MIM) says its Mako VolPlus volatility arbitrage fund, launched on 3 March, closed on the same day, substantially oversubscribed. The fund aims to produce superior returns by exploiting volatility inefficiencies in the equity and fixed income markets,
Syntegra announced today that Toronto based Dundee Securities Corporation, a brokerage firm, had installed its voice trading capabilities in its new Toronto trading room. Trading at the new facility began in September 2002. "Our decision to adopt Syntegra's technology was
SunGard Business Integration announced today that Travelex Corporate Foreign Exchange has selected the MINT SWIFTNet FIN solution to migrate from SWIFT's X.25 network to the FIN services on the new SWIFTNet IP network. MINT SWIFTNet acts as a central SWIFT