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Net revenues for the NASDAQ OMX group were USD517 million in the fourth quarter of 2014, down 1% from USD520 million in the prior year period, driven by the impact of foreign exchange rates.
On an organic basis, excluding the impact of foreign exchange rates, fourth quarter net revenues increased 3% year-over-year.
"Nasdaq's record profitability resulted from its improved strategic positioning, successfully meeting the evolving demands of our diverse client base, and maintaining the organization's relentless focus on efficiency," says Bob Greifeld, CEO, Nasdaq. "Moreover, the strong results in the fourth quarter, and 2014 overall, were driven by both
- 02/02/2015
Mirabaud Asset Management has recruited André Broijl, Bert Hospers, Sai Kit Lam and George Luijkx from Syntrus Achmea Asset Management to join its fixed income team, led by Andrew Lake, in London.
This move follows a number of high-profile hires over the past 36 months within the asset management division of Mirabaud, as the firm develops its range of capabilities to meet the needs of its wide range of clients. This new credit team has been operating for almost a decade, they have successfully managed over EUR 4 billion of institutional mandates for Dutch pension funds, building one of the
- 30/01/2015
- 30/01/2015
Maples Fund Services has hired Greg Wildes, Senior Vice President – Client Solutions and Relationship Management, to focus on delivering innovative client solutions to new and existing clients.
Based in New York, Wildes will be responsible for managing client relationships and expanding opportunities for continued growth of the fund services business in North America.
Wildes will work closely with Jason Brandt, Regional Head of Fund Services – Americas, and Toni Pinkerton, Global Head of Fund Services, to continue to provide investment managers, institutional investors and family offices custom solutions for their fund administration, middle office and reporting needs. With the
- 30/01/2015
Albert Fried & Company has selected SS&C’s Global Wealth Platform (GWP) to support its growing boutique prime brokerage business.
Albert Fried & Company was looking to gain a competitive advantage by using web-based performance reporting to enhance internal processes and client service. The broker-dealer will use SS&C’s performance and client reporting capabilities as part of a hosted middle- to –back-office platform to provide customers with high quality analysis and reporting.
The software will be deployed on a hosted basis, allowing Albert Fried to minimise internal technology costs while leveraging SS&C’s data management capabilities.
“Over the past several years,
- 30/01/2015
Jersey has affirmed its position as a leading centre for companies looking to list, with the volume and value of Jersey companies listed on exchanges around the world rising significantly in the past 12 months, according to figures collated by Jersey Finance.
The latest figures show that there are now a total of 110 Jersey companies listed on exchanges around the world, reflecting growth of 13% on 2013 figures, whilst the total market capitalisation of those companies rose by around 62% year-on-year to GBP269 billion in 2014.
Of the 110 companies, 57 are quoted on the London Stock Exchange’s (LSE)
- 30/01/2015
According to the Q3 statistical bulletin published by the BVI Financial Services Commission (FSC), the islands’ financial regulator, a total of 27 limited partnerships were recorded in Q2 2014 compared to 16 in Q2 2013. That figure rose in Q3 to 36.
This is good news for the jurisdiction as it suggests that demand for GP/LP structures among private equity managers remains strong. Indeed, the BVI remains highly favoured among asset managers in emerging markets, not least Chinese asset managers looking to incorporate special purpose acquisition companies (SPACs) in the BVI.
Drake Fund Advisors is a specialist emerging markets fund administrator.
- 30/01/2015
There appears to have been a real pick-up in interest in BVI segregated portfolio company (SPC) formations over the last 12 months. Many recent conversations with start-up managers seem to be about forming such structures according to Marie-Claire Fudge (pictured), head of Mourant Ozannes’ BVI funds practice.
A BVI SPC is a single legal entity containing a number of segregated portfolios. Under BVI law, only insurance companies or investment funds may be incorporated or registered as SPCs. An SPC may only be incorporated with the prior written consent of the BVI Financial Services Commission (the FSC) and must contain the
- 30/01/2015
By James Williams – There’s a general air of optimism among the BVI’s fund practitioners. Although the average hedge fund recorded sub-four per cent, the lowest average return since 2011, there was nevertheless a clear uptick in trading activity, principally among some of the islands’ larger managers.
“Those with established funds attracted a lot more attention and interest and launched various offshoots of their flagship funds, which was a welcome development,” notes Grant Green (pictured), Managing Director, KPMG (BVI) Limited.
Howard Eisen is managing director and head of sales for Conifer Fund Services, one of the BVI’s leading fund
- 30/01/2015
In many respects 2014 was a year of consolidation and possibly a sign of better things to come in the BVI in the view of Mara Spencer (pictured), Managing Director of ACE Fund Services. It was, she says, a period of stability during which certain strategy funds, in particular those with an FX slant, performed well.
“The portfolios we administer are quite varied. We work with funds that have different asset allocations and operate in a range of different jurisdictions so we see quite a diverse picture of fund activity. We saw a steady level of fund subscriptions for specific
- 30/01/2015
- 30/01/2015
The BVI has seen some good traction in the Approved Manager regime since it was introduced at the end of 2012. Whilst this has proved popular with start-up and small- to mid-sized managers looking for a lighter touch regulatory oversight from the local regulator, the feeling amongst the islands’ leading law firms was that a new fund product was needed to cater more specifically to this market sector.
To address this issue, Simon Schilder (pictured), Partner at Ogier and Chairman of the Securities, Investment Business and Mutual Funds Advisory Committee (SIBAC), has written a white paper currently being considered by
- 30/01/2015
- 30/01/2015
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