All articles by Verdict Staff
Verdict Staff
BNY Mellon reports 23% fall in Q3 income
The Bank of New York Mellon (BNY Mellon) has reported third quarter net income applicable to common shareholders of $820m, or $0.74 per diluted common share, a decrease of 23% compared with $1.07bn or $0.93 per diluted common share a year ago.
RCAM to buy Goldman Sachs onshore asset management unit in India
Reliance Capital Asset Management (RCAM), a part of Reliance Capital, has agreed to acquire Goldman Sachs Asset Management’s (GSAM) onshore asset management business in India for INR2.43bn ($37.5m) in cash.
GAM investment management AuM drops to CHF72.4bn in Q3
Swiss money manager GAM Holding has reported that assets under management (AuM) in its investment management unit declined to CHF72.4bn in the third quarter of 2015 compared with CHF73.5bn as of 30 June 2015 due to negative market performance.
Raiffeisen Banks Russian unit offloads its pension fund business
AO Raiffeisenban, a Russian subsidiary of Raiffeisen Bank International (RBI), has sold its pension fund business (ZAO NPF Raiffeisen) to the Russian BIN Group for an undisclosed sum.
Maybank Kim Eng selects IRESS as technology partner
Maybank Kim Eng, an investment bank in Asia, has chosen IRESS, an Australian financial software company, as its technology partner to offer multi-asset solutions.
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Citi, The Wharton School set up wealth institute for advisors
Citi has joined hands with The Wharton School of the University of Pennsylvania to launch Citi Wharton Global Wealth Institute to offer multi-year global executive education program for wealth advisors.
Chairman buys majority stake in multi-family office Oracle Capital
Oracle Capital Group, a multi-family office and wealth consultancy, has revealed that its chairman Martin Graham has acquired majority stake in the company.
SEC fines UBS $17.5m for failing to disclose shift in investment strategy
The US Securities and Exchange Commission (SEC) has fined two UBS advisory firms $17.5m for failing to disclose a change in investment strategy by UBS Willow Fund LLC, a closed-end fund they advised.
China Construction Bank granted licence to open Swiss branch
China Construction Bank has secured a license from the Swiss financial regulator Finma to offer commercial- banking services and clear renminbi transactions in Switzerland.
Azimuts Australian arm to acquire financial planner Wise Planners
AZ Next Generation Advisory (AZ NGA), the Australian unit of Azimut, has agreed to acquire the entire capital of Wise Planners (WP) for A$4.5m.