All articles by Verdict Staff
Verdict Staff
South Koreas national pension service to create foreign-currency account report
South Koreas national pension service is planning to create a foreign-currency account to better manage its growing overseas investment, according to Reuters.
Barclays to sell customer data to other companies
Barclays has told its 13 millions of UK customers that it will start selling its aggregated and anonymized data on its checking and savings account holders to other companies trying to understand customer purchasing trends, effective from October 2013.
UBS in a US$21.4 million lawsuit in Dubai
UBS has been challenged in US$21.4 million lawsuit by Sheikh Meshal Jarah al-Sabah, a member of Kuwait’s ruling family, for failing to pay the latter the sum assured to enable him to become a lead arranger for a US$9 billion asset sale by a Kuwait-based telecoms operator Zain.
IFM opens office in Berlin to tap opportunities in Europe
Australia-based Industry Funds Management (IFM) has opened a new office in Berlin, Germany in adherence to its strategy to fortify its position among investors in Europe.
Merrill Lynch, Wells Fargo vying to run Wal-Mart’s US$15.6 billion retirement plan
Bank of America Merrill Lynch and Wells Fargo are reportedly vying to run Wal-Mart Stores’ 401(k) programme, which has US$15.6 billion in assets.
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INDOS Financial plans to enter AIFMD depositary market
INDOS Financial Limited (INDOS) has submitted an application to the Financial Conduct Authority for authorisation as a Depositary. INDOS plans to provide independent depositary oversight services to hedge fund managers seeking to comply with the long-awaited Alternative Investment Fund Managers Directive (AIFMD) which becomes law on 22 July 2013.
Nigerian Stock Exchange Lotus Islamic Index undergoes screening
The Nigerian Stock Exchange (NSE) conducted an Islamic screening exercise on the fifteen companies in the NSE Lotus Islamic Index (NSE LII) and other Shariah compliant companies using their 2012 year-end financial statements, the result of which saw some stocks likely failing the screening exercise.
HSBC to offload its stake in Iraqs Dar Es Salaam Investment Bank
HSBC has confirmed that it will sell its majority stake in Iraq-based Dar Es Salaam Investment Bank (DES).
BNY Mellon wins patent for margin management process
BNY Mellon has been awarded a patent from the United States Patent and Trademark Office for a process enabling the secure management of collateral between counterparties via its Margin DIRECT service.
AXA Investment Managers appoints CEO
Andrea Rossi is appointed Chief Executive Officer of AXA Investment Managers and joins AXA Group’s Executive Committee. He will succeed Dominique Carrel-Billiard, who has decided to leave the AXA Group.