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Financial institutions are facing a multitude of issues folowing the UK's vote to leave the EU, says law firm Eversheds, with passporting/mutual fund recognition likely to be a major concern for banks, investment managers and insuranace companies.
According to Eversheds, institutions which currently rely on “passports” under the Single Market Directives, such as the Capital Requirements Directive, Market in Financial Instruments Directive (MiFID), UCITS Directive, Alternative Investment Fund Managers Directive (AIFMD) and Solvency II Directive, may have to restructure their businesses.
Currently an institution, which the Prudential Regulation Authority or Financial Conduct Authority have authorised in the UK, has the
- 24/06/2016
Estera has bolstered its risk and compliance offering with the appointment of Risk and Compliance Director, Tui Iti who will be responsible for ensuring the company consistently adopts the highest global compliance standards across each of its international offices.
The newly created role consolidates Estera’s strategic approach to the management of internal and external risk.
Iti brings more than 16 years of multi-jurisdictional compliance experience to the group, gained from working in both the onshore and offshore finance industries across a range of sectors.
Prior to joining Estera, Iti was Group Risk and Compliance Director for multi-jurisdictional fiduciary services company,
- 23/06/2016
InvestCloud, a cloud-based digital applet platform for financial services, has appointed Graham Collier as the firm’s new Head of Technical Operations for Europe.
In this role, Collier will oversee the development and roll-out of InvestCloud’s technology for European clients, showcasing his management, technical and operational skills, and will help implement service delivery to serve InvestCloud’s expanding European customer base
InvestCloud’s digital applet platform, which is used by 660 advisory and institutional clients, supports over USD1.5 trillion of assets and following its success in the US, where it launched in 2010, is now rolling out operations across Europe from its
- 23/06/2016
Blackstone Strategic Capital Holdings Fund (BSCH), a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management.
Based in New York, Marathon is an opportunistic global credit event-driven manager with approximately USD12.75 billion in assets under management. The firm pursues credit through a broad spectrum of investments in global corporate credit, distressed and special situational credit, structured credit, emerging markets and leveraged loans.
“Rich has been a great Partner for many years and we wish him success in his future endeavours. Vijay and I have worked together for nine years and I
- 23/06/2016
Thomson Reuters has enhanced its environmental, social, and governance (ESG) offering on Thomson Reuters Eikon with a new application that enables buy-side professionals to analyse real-time ESG data and incorporate it into socially responsible investment (SRI) decisions.
Developed and supported by TruValue Labs, Inc (TruValue), Insight360 compliments Thomson Reuters existing ESG offering by providing real-time access to material, relevant data and events related to sustainability, and ESG statistics for over 7,500 publicly-traded companies.
ESG financial data incorporated in the asset management industry grew by 45 per cent over the last four years, representing USD59 trillion of assets under management.
- 23/06/2016
Betty Tay, Managing Director and Head of the External Managers Department at GIC, Singapore’s Sovereign Wealth Fund, has joined the board of the Hedge Fund Standards Board (HFSB), the global standard-setting body for the hedge fund industry.
In addition, the HFSB has established an Asia-Pacific (APAC) Committee which will include: APAC-based HFSB Trustees Betty Tay of GIC, Chris Gradel of PAG and David George of Future Fund; and senior APAC-based industry executives Richard Johnston of Albourne Partners and Ted Lee of Canada Pension Plan Investment Board (CPPIB). Additional hedge fund manager representatives will be announced in due course.
The
- 23/06/2016
TH Data Capital formally has launched an alternative to the traditional financial research model, using big data expertise and a deep understanding of financial markets to provide advanced predictions of business performance in China.
TH Data Capital is the first, and only, company that offers big data analytics expertise coupled with an analyst-driven approach. This differs significantly from IT driven research firms that look at reams of data, but lack the skills to interpret it correctly to make it actionable.
Reliable business intelligence on China is hard to find, but it has become tremendously significant to any consumer-oriented company
- 23/06/2016
Offshore law firm Carey Olsen has announced six new partners bringing the total number of partners across its seven offices to 49.
The new partners are Annette Alexander from the Guernsey corporate practice, Kate Andrews and James Willmott from the Jersey corporate practice, Keith Dixon and Alexa Saunders from the Jersey trusts and private wealth practice and Jeremy Garrood from the Jersey litigation practice.
Carey Olsen chairman, John Kelleher (pictured), says: “Our new partners have earned their place through their exceptional technical knowledge and dedication to client service. They join the partner group at a very exciting time for Carey
- 22/06/2016
- 22/06/2016
The Lyxor Hedge Fund Index was up 0.84 in May, with six out of 10 Lyxor indices ending the month with a positive performance. The more directional strategies had the best returns.
Event-Driven Strategies led the pack, as they benefited from an acceleration of M&A activity and the completion of large merger deals. Special Situations (+2.5%) outperformed Merger Arbitrage (+1.4%).
Global Macro managers are back in the green thanks to the strengthening US dollar and their fixed income portfolio.
“The performance of Event-Driven strategies picked up in May after having experienced difficult quarters,” says Philippe Ferreira (pictured), senior cross-asset strategist
- 22/06/2016
- 22/06/2016
AlphaCore Capital, a La Jolla, CA based investment advisor has seen increased demand for alternative allocations from independent advisors.
The firm has expanded their team and hired Senior Investment Advisor Brett Upper to assist independent advisors navigate the changing alternative investment universe. While demand for alternative investments from advisors has increased, so has the need for expertise in this widely dispersed investment space.
AlphaCore works with advisors and investors to integrate alternative investments as a core allocation in tandem with traditional investments.
Upper strongly believes that the demand for alternative investments from advisors underscores the positive effect of alternatives in
- 22/06/2016
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