All articles by Verdict Staff
Verdict Staff
Accenture, Broadridge launch post-trade processing solution for European, Asian banks
Accenture and Broadridge Financial Solutions have launched Accenture Post-Trade Processing, a solution to help banks operating in Europe and Asia-Pacific reduce post-trade processing costs.
Only 22% of hedge fund managers are compliant with forthcoming AIFMD regulations
Preqins recent survey of 220 hedge fund managers around the world reveals that there is still uncertainty surrounding the Alternative Investment Fund Managers Directive (AIFMD) among many managers, with 40% of managers that will be impacted by the AIFMD waiting for finalisation of regulations and further advice from their local regulators before taking action.
Zhong Sheng Wang pockets $54.93m in share sales
Zhong Sheng Wang, executive chairman of the board at China Leason & Shale Gas Group, a Hong Kong-based investment holding company, has sold 1.6 billion shares, representing a 14.99% stake in the company. The shares were sold on 4 July 2013 at an average price of HKD0.26 ($0.03) per share, for total gross proceeds of approximately HKD426 million ($54.93m).
US watchdog asks SEC to review definition of Accredited Investor
The US Securities Exchange Commission (SEC) should review the definition of accredited investor and raise the bar for those who want to want to invest in risky product, the Government Accountability Office (GAO) said in a report.
Arbuthnot Private Bank pre-tax profit slumps by 28% in H1
Arbuthnot Private Bank has reported a pre-tax profit of £1 million for the first six months of 2013, a decline of 28% compared with £1.4 million reported in the corresponding period of 2012.
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Russell Investments hires director of responsible investments in London
US based asset management firm, Russell Investments, has appointed Mike Clark as director of responsible investment as it seeks to further promote sustainability-focused asset management.
Blackstone swings to profit in Q2
American Financial advisory firm Blackstone has posted a profit of US$211.1 million, or 36 cents a unit for the second quarter of 2013, compared with a loss of US$75 million, or 14 cents a unit a year-earlier.
Morgan Stanleys wealth management arm pre-tax income rises 60% in Q2
Morgan Stanley’s wealth management unit has reported pre-tax income of US$655 million for the second quarter of 2013, a 60% increase from US$410 million in the corresponding year ago period.
US regulators fine Barclays US$453 million over rigging energy markets
US regulators have fined Barclays and four of its traders US $453 million for for allegedly price rigging US energy markets.
Piper Jaffray net income slumps by 64% in Q2
Piper Jaffrays second quarter net income shrank 64% to US$2.5 million from US$6.9 million in the year-ago period, due to weak performance by its brokerage unit.