Asset managers are not optimizing corporate action decisions “on a massive scale” and causing losses to beneficial holders in excess of $1 billion annually, which is likely to spur regulatory and litigation risks, according to a new white paper published by international law firm Greenberg Traurig and commissioned by Scorpeo, a company specializing in capturing… Read More >>
Deutsche Bank Shuffles Execs for 2019
In the wake of major outflows from its asset management business, Deutsche Bank’s supervisory board is shuffling executives, particularly Nicolas Moreau, who will no longer run the asset management unit by the end of 2018. The German banking giant’s asset management business reported €3 billion ($3.4 billion) of net outflows for the third quarter of… Read More >>
Hong Kong Firm to Deploy Linedata Solutions
Hong-Kong-based ICBC Asset Management (Global) will deploy by the end of the year software solutions from vendor Linedata in a bid to scale up its operations to support a rapidly growing Asian asset management business, officials say. ICBC AMG “is expanding its product lineup and diversifying its offerings into new asset classes and strategies,” says… Read More >>
Buy-Side Firms Need Help Amid Disruptions: Q&A
(Disruptions via technology, regulators and market conditions are spurring major changes in operations for many buy-side firms, says Marc Mallett, who serves as vice president for sales and product management for SimCorp North America. On his LinkedIn page, he describes himself as being responsible for the company’s sales, presales and product management. He lists as… Read More >>
BNY Mellon Deploys FundBlast Digital Communications Platform
BNY Mellon has implemented a digital communications platform, FundBlast from back-office solutions vendor Delta Data, that targets asset managers by helping them to communicate mutual fund events such as product setup, distributions, load schedule changes, fund liquidations and mergers, to their service providers and distributors. FundBlast is intended to meet the data management and operational… Read More >>
Credit Suisse Asset Management Group Sells Off Actiance Investment
Sale is Key to the Merging of Actiance and Smarsh Credit Suisse Asset Management’s NEXT Investors group reported on Nov. 30 that it has exited its investment in Actiance, a communications and social media compliance, archiving, and analytics vendor, via a sale to K1 Investment Management, a U.S. private equity firm that invests in enterprise… Read More >>
Blackstone Hires from GE for New Infrastructure Push
Blackstone Names Head of Infrastructure Portfolio Asset Management Blackstone reports that Stephen R. Bolze, former president and CEO of General Electric’s power business, will join as a senior managing director and head of portfolio operations and asset management for its newly launched dedicated infrastructure business. Bolze, who will join Blackstone in October, will “partner with… Read More >>
Vendors Are Rushing to Fill Voids in Ops Offerings
Front-office financial technology vendors are moving quickly to expand their reach into the middle and back office while traditional portfolio accounting systems providers are moving upstream into the middle office in attempts to provide a fuller suite of asset management operational services, according to a new report from market research firm Celent, a division of… Read More >>
SEC Taps Goldman Sachs for Chief of Staff
SEC officials report that Andrew J. “Buddy” Donohue has been named the agency’s chief of staff, replacing Lona Nallengara, who will leave the agency in June. As chief of staff, Donohue will be a senior adviser to Chair Mary Jo White on “all policy, management, and regulatory issues,” according to an SEC statement. Most recently,… Read More >>
SEC Promotes Acting Head of Investment Management Unit
The SEC reports that David Grim has been named director of the division of investment management. Grim has been the division’s acting director since February, following the departure of former director Norm Champ. Grim joined the SEC in September 1995 as a staff attorney in the division’s office of investment company regulation, according to a… Read More >>
