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The wealth and asset management industry may have been in growth mode, with assets under management (AUM) on the up and margins on the mend. But there are also simultaneous undercurrents of profound change, heated competition and margin pressures.
That’s according to a new report by Forbes Insights, in association with EY and SEI Investments Company, "Seeing Beyond: Unlocking the Long-Term Opportunities in Wealth and Asset Management, which reveals that a full 83 per cent of respondents agree or strongly agree that they are facing significant competitive pressure, indicating that the industry is experiencing considerable stress.
Nearly half of executives
- 22/10/2015
SunGard is expanding its Pricing and Data Services solution to include the entirety of Markit’s fixed income pricing data.
SunGard’s Pricing and Data Services is part of SunGard’s Investment Operations suite, which supports the entire investment process from portfolio management to client reporting. Pricing and Data Services provides third-party administrators and asset managers with a customised and scalable price validation solution that gives clients the freedom to focus on valued added practices such as oversight analysis rather than data scrubbing. It also helps customers improve operational efficiency, mitigate financial and reputational risk, increase ROI, and reduce costs.
Pricing and Data
- 22/10/2015
The leading international provider of specialist business and finance training courses has announced plans to launch a specialised risk management and financial regulation training centre.
Eureka Financial has revealed plans to launch a specialised risk management and financial regulation training centre.
With the company already operating several specialised training offices around the world – including in key locations such as London and Dubai – Eureka Financial’s planned expansion is expected to increase the number of learners who choose to study with their specialist instructors in areas such as Corporate Governance, Operational Risk Management, Financial Regulatory Compliance and many more.
- 22/10/2015
DMS Offshore Investment Services is boosting its onshore fund governance capabilities with the recruitment of Michael Garvey (pictured), a former Managing Director of JP Morgan Alternative Asset Management as a managing director.
Garvey, who will be based in the firm's New York office, will have the capacity to serve as an independent director on the boards of investment funds and related structures, and will play a key role in DMS Operational Due Diligence services, also based in its New York office. In addition, he will provide thought leadership to institutional investors and consultants through DMS roundtables and seminars, industry conferences,
- 22/10/2015
Citi has hired Dominic Crowe as Global Head of Product Development and Strategy for Custody and Fund Services and Bill Pryor as Global Head of Data and Analytics for Custody and Fund Services.
In addition, Citi has appointed Jay Martin to run its North America Custody and Fund Services franchise.
Crowe will be based in New York and report to Sanjiv Sawhney, Global Head of Custody and Fund Services. He joins Citi from The Bank of New York Mellon where he spent the past two years as Global Head of Client Services Delivery for Structured Products. He had previously
- 22/10/2015
Financial messaging infrastructure specialist CameronTec Group has hired George Rosenberger, a former managing director and head of Connex at Convergex, to lead the company’s push in to the managed services space.
CameronTec’s Global Managed Services will provide outsourced connectivity services for the capital markets industry including Client On-Boarding, Testing, FIX and non-FIX connectivity customisation, as well as market connectivity.
Anders Henriksson, CEO for CameronTec Group, says: “George brings with him extensive industry experience and valuable expertise in the areas of outsourced trading services and global connectivity. George has gained a well-deserved reputation building, in recent years, the successful Connex
- 22/10/2015
Bitcoin and other virtual currencies can be exchanged tax free in Europe, just like traditional currencies, following a ruling by the EU Court of Justice in Luxembourg.
The Swedish tax authorities had argued that crypto currencies should not be covered by the European Union Directive that currently exempts currency transactions from VAT or sales taxes. But the court’s ruling now affords digital currencies like Bitcoin the same tax-free standing as traditional currencies throughout the 28 countries of the EU.
According to Michael Kent, CEO and founder of digital money transfer company Azimo, the Court of Justice ruling is a big development
- 22/10/2015
The last quarter’s private equity fundraising is analysed in this extract from the Preqin Quarterly Update: Private Equity, Q3 2015.
With the third quarter of the year typically slow for fundraising, it is surprising to see Q3 2015 as the best quarter in 2015 so far in terms of aggregate capital raised. There were 178 funds that reached a final close, securing an aggregate USD137 billion (Fig 1). The number of funds raised, however, has seen a sharp drop from the previous quarter, causing a marked rise in the average private equity fund size.
Buyout funds in particular collected
- 22/10/2015
- 22/10/2015
MarketAxess has reported strong results for Q3 including revenues of USD74.2 million – an increase of 15.5 per cent on the same period in 2014.
“Our third quarter results reflect strong market share gains across all of our core products. In spite of less favourable credit market conditions during the quarter, we reached record estimated market share levels in both US high-grade and high-yield bonds,” says Richard M McVey, Chairman and CEO of MarketAxess. “Adoption of our Open Trading solutions is growing and we saw new records during the quarter for Open Trading volume and trade count. We continue to increase
- 22/10/2015
- 22/10/2015
A new Celent report into the global post-trade industry, commissioned by Nasdaq, analyses trends and challenges affecting central counterparties (CCPs) and central securities depositories (CSDs), and predicts future developments.
Based on an examination of 12 key markets and detailed discussions with 17 major industry participants, the report finds that the changing regulatory environment is the dominant force affecting post-trade industry players, thanks to a post-crash focus on managing systemic risk. Market infrastructure initiatives – such as the worldwide focus on shortening settlement cycles – are also making a big difference. Initiatives from European authorities, such as interoperability, T2S and CSDR,
- 22/10/2015
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