Ashburton (Jersey) Limited is to form the international arm of a new asset manager that will become the fourth financial services franchise of FirstRand Limited alongside existing brands FNB, RMB and WesBank. The new business takes its name from
GAM Group AG (GAM), a wholly owned subsidiary of GAM Holding AG is to enter into a partnership with QFS Asset Management L.P. (QFS), a US-based alternative asset management boutique that specialises in currency, global macro and fixed income strategies.
Mitsubishi UFJ Trust and Banking Corporation (MUTB) is to acquire alternative fund administrator Butterfield Fulcrum. Established in 1927, MUTB is a wholly owned subsidiary of Mitsubishi UFJ Financial Group (‘MUFG’), the fifth largest global bank holding company ranked by assets.
Miravast Asset Management, an investment adviser specialising in life contingent assets, has advised on the USD60m purchase of a life insurance portfolio by a substantial institutional investor. Miravast developed and structured the transaction, including selecting the life insurance
Hedge fund Elliot Associates is planning to nominate five executives to the board of Hess Corp as it looks to force a break up of the US oil and gas company. Activist investor Elliott, which currently own about four per
Fiera Capital has closed the acquisition of the Canadian fixed income, Canadian equity and domestic balanced account business from UBS Global Asset Management (Canada). The deal represents assets under management of approximately CAD8bn for a cash consideration of CAD52m, subject
Aston Hill Financial has completed its purchase of Citadel Securities, a provider of investment advice and services to private and institutional investors. The deal was previously announced on 15 November. Aston Hill is a diversified asset management company with a
ModusLink Global Solutions has entered into an investment agreement with Steel Partners Holdings, which together with certain affiliates, including Handy & Harman, beneficially owns 14.9 per cent of ModusLink’s outstanding shares. Under the terms of the agreement, Steel Holdings would
The partners of Bedell Cristin have announced a plan to merge with Cayman-based law firm, Solomon Harris. It is hoped that the deal will complete by the end of August, and Solomon Harris will rebrand as Bedell Cristin at a
The IFG Trust and Corporate Group has concluded its acquisition of Moore Group following receipt of regulatory approval from the Jersey Financial Services Commission (JFSC). The acquisition marks a significant development in the group’s growth strategy within the international fund
