BNP Paribas published its results for 2002 today. Pleading in mitigation the difficult external environment, chairman Michel Pebereau argued that a 10.4 per cent fall in revenue, was a good result under the circumstances. BNP Paribas Group's net banking income
Ray Soudah the former Cedel executive who now heads the Swiss based fund management merger consultancy, Millenium Associates AG says that, despite recent scepticism, there are still both good reasons and opportunities for traditional fund managers to get into the
Mutual Fund Technologies (MFT), the transfer agency system provider owned by Fidelity, announced today that INVESCO PERPETUAL had selected its Global Fund Administration System (GFAS) to manage their UK operations. The conversion is currently planned for September 2003 and will
Over 78 percent of financial service firms in Hong Kong agree the city is currently a very advantageous location for their activities, according to preliminary findings from a 917 firm study of the territory's competitiveness by Dr Edmund R Thompson,
OM is tightening its focus on the bank and brokerage markets by establishing a new business area called Banks & Brokers. The new business area is largely based on what was previously known as the Broker Services business area, including
Wells Fargo announced today the launch of Securities Lending Reporting, a new service that allows participants in its securities lending programmes to access information on their open loans on line, via the bank's Commercial Electronic OfficeSM (CEOSM) business portal. The
Eiger Systems Limited, the Rugby based supplier of data validation software for the financial services industry, today claimed that the cost of maintaining in house biller systems is becoming unsustainable for the UK banking industry. "Growth in the popularity of
Integra SP and Sun Microsystems announced today that institutional broker Prebon Yamane have just implemented a trade management solution linking brokers in London and New York, and tying in third pary trade processing systems, including Swapswire. Inttegra says Prebon Yamane
New Jersey based Derivatives Portfolio Management LLC (DPM), an onshore offshore alternative investment administration firm specialising in derivatives risk analysis and measurement, has formed DPM Europe Ltd and opened an office in London. "As hedge funds and other alternative investments
SunGard Securities Processing announced today that San Antonio based Frost National Bank and First National Bank of Omaha, Nebraska have implemented SunGard's InTrader Safekeeping Web Portal to deliver online safekeeping statements and advisories to their correspondent customers and bank affiliates.