Latest News
Financial services software and provider SS&C Technologies is to acquire Advent Software, a provider of software and services for the global investment management industry.
Under the terms of the agreement, SS&C will purchase Advent for an enterprise value of approximately USD2.7 billion in cash, equating to USD44.25 per share plus assumption of debt.
Advent has more than 4,300 customers including asset managers, hedge funds, fund administrators, prime brokers, family offices and wealth management advisory firms, located across more than 50 countries worldwide. Headquartered in San Francisco, California, with more than 1,200 employees worldwide, Advent generated revenues of USD397 million for
- 03/02/2015
- 03/02/2015
Spencer Capital Holdings is to acquire USA Risk Group an independent captive insurance manager. The transaction is subject to customary closing requirements and regulatory approval, and is expected to close during the first quarter of 2015.
USA Risk currently serves over 300 clients, holding $9 billion assets under management. Financial terms of the transaction were not disclosed.
USA Risk is an independent captive insurance manager founded in 1981 by H Lincoln Miller, Jr, a leader in helping to enact legislation enabling Vermont to become the pre-eminent captive domicile within the United States. USA Risk has since established member companies in
- 03/02/2015
JonesTrading Institutional Services is to open a London office as part of a strategic initiative to expand its services to Europe.
The move comes in response to client demand for regional expansion of the firm’s relationship based model for block trading and execution services as well as for the firm’s ancillary capital market and independent research services.
JonesTrading International Limited has been an FCA registered broker since 2002. JonesTrading is now expanding and will have a London office fully operational by Q2 2015. It will expand its client base with a focus on cross border trading between Europe and the
- 03/02/2015
- 03/02/2015
Nasdaq has launched an experimental pricing program with lower access fees for 14 stocks representing both small and large capitalisation companies traded on US equity listings venues.
The program reduces the access fee to five cents per 100 shares from 30 cents per 100 shares in 14 stocks and reduces the rebates for liquidity provision on The Nasdaq Stock Market. This experiment will generate much-needed data about the impact of the level of access fees on areas that matter most to investors and public companies such as the level of off-exchange trading, price discovery, trading costs, displayed liquidity and execution
- 03/02/2015
A reception at the UK Parliament hosted by the Alternative Investment Management Association (AIMA), the global hedge fund association, has heard how hedge funds can help pension funds to close the “pensions gap”.
Speaking at the reception were the Labour MP Dame Anne Begg, Chair of the Commons Work and Pensions Select Committee; the Labour MP Chris Evans, Parliamentary Private Secretary to Chris Leslie MP, Shadow Chief Secretary to the Treasury; Kathryn Graham, Head of Strategy Co-ordination for the Universities Superannuation Scheme (USS), one of the UK’s biggest pension funds; and Jack Inglis, CEO, AIMA. The event drew more than
- 03/02/2015
Hong Kong law firm K&L Gates has added Michael Wong as a partner in the investment management, hedge funds and alternative investments practice.
Wong joins the firm from Allen & Overy LLP.
Concentrating his practice on investment management and financial regulation, Wong has extensive experience advising fund managers and financial institutions on the structuring, establishment, and distribution of a broad range of fund products, including hedge, alternative investment, and SFC-authorized funds, as well as counseling on a wide variety of other financial regulatory areas, including licensing and registration of financial intermediaries, managed accounts, custody arrangements, disclosure of interests, insider dealing,
- 02/02/2015
Unigestion, an institutional asset manager that focuses on providing its clients with a targeted range of risk-managed investment solutions, has appointed Ken Harvie as Head of Consultant Relations within its Institutional Clients team.
Harvie joined in December 2014 and is based in London, reporting to Tom Leavitt, Managing Director and Head of Institutional Clients. Ken will be responsible for strengthening relations across the global consultancy community.
Harvie joins Unigestion from Ignis Asset Management, and brings over 30 years’ experience in the pensions industry. In his role as Client and Consultant Relations Director at Ignis Harvie played a key role
- 02/02/2015
Guggenheim Securities International, the international investment banking and capital markets division of Guggenheim Partners, has commenced operations, providing sales and trading services for European clients.
"Guggenheim is pleased to extend its broadened securities platform to deliver thoughtful solutions and ideas to European institutional clients," says Alan Schwartz, CEO of Guggenheim Securities and Executive Chairman at Guggenheim Partners. "The talent that we have attracted in our London office both enhances our fixed-income and equities distribution capabilities and provides a strong foundation for growth in Europe."
Duncan Riefler is serving as President of Guggenheim Securities International Ltd. and Head
of London Fixed
- 02/02/2015
Fund governance firm DMS Offshore Investment Services (DMS) has appointed Westley Chapman as a Director.
Chapman will serve on the boards of investment funds, providing independent oversight on governance and compliance matters. He will also function as Director, Operational Due Diligence and will be based in New York.
As even more investors continue increasing allocations to private funds, investors and managers are spending more time on operational due diligence reviews, plus facing evaluating even more investment opportunities with less available resources.
DMS Operational Due Diligence aims to ease this burden and part of Chapman's role is to advise investors on
- 02/02/2015
Euronext has appointed Maurice van Tilburg as Chief Executive Officer (CEO) of Euronext Amsterdam with immediate effect, pending regulatory approvals.
Van Tilburg has almost 20 years’ experience in the exchange sector. Until this appointment, he was Head of Business Projects & Design of the European Equity and Equity Derivatives Markets at Euronext, where he was responsible for the process reform of business initiatives and project delivery of new products and services. Prior to that Mr. Van Tilburg was in charge of issuer support and execution of corporate actions across all Euronext Cash Markets in Europe. Van Tilburg started his career
- 02/02/2015
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