ZURICH (Reuters) – Assets under management or custody at Pictet Group rose by 15% to a record 698 billion Swiss francs ($755.49 billion) last year amid strong markets and net new money inflows of more than 29 billion francs, the Swiss wealth and asset manager said on Wednesday. Operating income at the Geneva-based group rose …
Pictet Group’s assets rise 15% to record high in 2021 Read More »
By Chris Taylor NEW YORK (Reuters) – Justin Soffer always enjoyed the car-buying process, with the typical back-and-forth negotiations that led to good discounts. But seven dealers and three months later, the marketing consultant from the Berkshires emerged shellshocked last year – and a lot lighter in the wallet. Along the way were several scenes …
BOSTON (Reuters) – An activist investment firm wants Guess? Inc to remove the two brothers who co-founded the retailer, arguing allegations of sexual misconduct against one of them are holding the company back, a source familiar with the matter said on Monday. Legion Partners, which owns 2.5% of Guess, believes co-founders Paul and Maurice Marciano’s …
Fund wants Guess founders off board amid sexual misconduct allegations – source Read More »
(Reuters) – Macro hedge funds made money in January, data provider HFR said on Monday, bucking the trend of widespread industry losses as markets succumbed to a wave of volatility triggered by high inflation and a steep rise in U.S. interest rate expectations. The HFRI Macro (Total) Index rose 0.85% in the month, led by …
Macro funds a rare plus in negative January for hedge funds -HFR Read More »
NEW YORK (Reuters) -Bank of America said on Monday its customers made $335 billion in total payments in January, a 17% increase over January 2021. Credit and debit card spending was up 16% to $65 billion, with credit card spending up 28%, the bank said. The strong spending figures are good signs for the economy …
Bank of America customers made $335 billion in payments in January Read More »
CAIRO (Reuters) – Egypt plans to sign a funding programme for 2022 with the International Islamic Trade Finance Corporation(ITFC) this month, Egypt’s Ministry of Planning and Economic Development said on Monday. One of the most important features of this year’s funding programme is the cooperation to support and develop medium, small, and micro enterprises sector …
Egypt to sign 2022 funding programme with ITFC in Feb Read More »
SAO PAULO (Reuters) – Morgan Stanley on Friday named Alessandro Zema as co-head of investment banking in Latin America, a post he will share with Jaime Martinez-Negrete, according to a statement. Zema will remain as Brazil country head, while managing director Fabio Medeiros will take up a role as the local investment banking head. Marilia …
Morgan Stanley names Zema co-head of Latam investment banking Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Ark Invest’s Cathie Wood is taking another stab at investing in “disruptive innovation,” this time through a new fund that will target illiquid securities including those of private companies, a regulatory filing on Thursday showed. Wood, known for managing ARK Innovation, the firm’s flagship exchange-traded fund, filed …
Cathie Wood’s new fund to invest in disruptive tech in private markets Read More »
By Valentina Za MILAN (Reuters) -Italy’s biggest bank Intesa Sanpaolo dashed market hopes it could match rival UniCredit and return all additional profits to investors in coming years, saying it had to first to tackle challenges for its business. Under a new plan to 2025 unveiled on Friday, Europe’s eighth-largest bank by assets said it …
Intesa sets $25 billion payout goal and grasps digital challenge Read More »
ZURICH (Reuters) – Credit Suisse has signed a deal with Barclays to take on rich clients in parts of Africa after it decided to exit wealth management in nine countries, the Swiss bank said on Friday, confirming an earlier Bloomberg report. “Credit Suisse has signed a private banking client referral agreement with Barclays as part …
Credit Suisse refers some African wealth management clients to Barclays Read More »
