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Citi has appointed Chris Cox as the securities services head for EMEA, leading both investor services and direct custody and clearing (DCC) franchises.
He will be based in London and report to Okan Pekin, Lee Waite and Leo Arduini.
Cox brings a breadth of cross-business and geographic experience to this role. His key priorities will be to build profitability, grow client penetration and improve organizational efficiency for securities services in EMEA.
Cox joined Citi in 1991 in London and has performed various roles in investment banking, debt capital markets and MTN trading. He moved to Asia in 1997
The Financial Conduct Authority (FCA) has fined Deutsche Bank AG London Branch GBP4,718,800 for incorrectly reporting transactions between November 2007 and April 2013.
Deutsche failed to properly report 29,411,494 equity swap CFD (contracts for difference) transactions.
The failure, which affected all Deutsche’s equity swap CFD transaction reports in this period, breaches FCA rules on transaction reporting.
Tracey McDermott, the FCA’s director of enforcement and financial crime, says: ''Effective market surveillance is critical to maintain the integrity of our markets and depends on accurate and timely reporting of transactions. Deutsche is a major market participant responsible for
Gar Wood Securities and Axxcess Wealth Management have formed a strategic relationship and joint marketing effort to introduce emerging US hedge fund managers to institutional clients, ultra-high net worth individuals and family offices.
The combined effort increases the manager talent pool for clients of Axxcess Wealth Management by providing unique access to Gar Wood Securities' emerging managers, in addition to the investment strategies currently available to investors via Axxcess Wealth Management's customisable investment platform.
"Gar Wood is pleased to offer this very unique capital-raising platform to our approved fund managers. The Axxcess Wealth Management platform provides a powerful tool
Three quarters (73 per cent) of hedge fund managers say competition in fundraising has increased in the past 12 months, according to a survey by Preqin.
However, 64 per cent of fund managers that run pooled products noted that their assets in these products had increased in the first half of the year.
Similarly, 61 per cent and 50 per cent of firms that manage alternative UCITS and alternative mutual fund products respectively reported net inflows to these vehicles.
Only 12 per cent of managers of pooled hedge funds noted their assets in these funds had decreased in
SmartStream Technologies has hired Tom Dalglish to manage transformation projects for post-trade processing and data management services for global clients.
Initially he will be responsible for managing the back-office transformation programme with one of Europe's largest banks.
Dalglish has over 20 years of experience in the industry and is a recognised expert in databases, data strategies and reference data. Prior to joining SmartStream, he was the global head of transformation for iGATE, where he designed and deployed a major data utility strategy for the firm. Previous to this he worked for UBS as chief technology officer for global data services running
State Street’s Global Investor Confidence Index (ICI) rose to 122.8 in August, up 7.2 points from July’s revised reading of 115.6.
The improvement in sentiment was driven by an increase in the Asian ICI from 92.1 to 101.7 and a six point increase in the European ICI to 127.7.
North American Sentiment fell one point to 110.3.
The Investor Confidence Index was developed by State Street Associates, State Street Global Exchange’s research and advisory services business, and Harvard University professor Kenneth Froot. It measures investor confidence or risk appetite quantitatively by analysing the actual buying and selling patterns
Hedge funds investing in India have become the world's best performers this year on expectations that Prime Minister Narendra Modi will revive Asia's third- largest economy.
The funds investing in the South Asian nation have returned 26 per cent this year through July, according to Eurekahedge Pte. That compares with an average 3.5 per cent gain for those investing in Asia, 1.9 per cent for Greater China, 1.2 per cent for Japan, 3.8 per cent for North America and 1.1 per cent for Europe, the Singapore-based data provider said.
India-focused hedge funds, with a sixth of the USD16.5 billion in assets of those investing in
Alternative asset manager The Carlyle Group has closed a collateralised loan obligation (CLO) fund in the US totalling approximately USD816 million.
The CLO, arranged by Citigroup, is the firm’s third of 2014 in the US.
Carlyle GMS CLO 2014-3 will invest predominantly in senior secured bank loans.
Including these latest closings, in 2014 Carlyle has raised approximately USD3.23 billion in CLOs — USD2.16 billion in the US and USD1.07 billion (EUR777 million) in Europe, the second consecutive year in which Carlyle has raised more than USD3 billion in new issue CLOs.
After a challenging beginning in August, on the back of higher risk aversion, markets started their rebound and progressively recouped their losses, according to Philippe Ferreira, head of research at Lyxor’s Managed Account Platform.
The easing of geopolitical tension in Iraq and Ukraine has fuelled renewed investor appetite for risk.
The amplitude of the rebound was, however, capped by a weaker global macro momentum: a flat and disappointing dynamic in EU, a probable peak in US and the fragilities of the Japan recovery, keeping risk assets under pressure.
In this context, hedge funds, which are overall still long
The SEC has adopted revisions to rules governing the disclosure, reporting, and offering process for asset-backed securities (ABS) to enhance transparency, better protect investors and facilitate capital formation.
The new rules require loan-level disclosure for certain assets, such as residential and commercial mortgages and automobile loans.
The rules also provide more time for investors to review and consider a securitisation offering, revise the eligibility criteria for using an expedited offering process known as “shelf offerings” and make important revisions to reporting requirements.
“These are strong reforms to protect America’s investors by enhancing the disclosure requirements for asset-backed securities
