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The Board of Directors of Newedge, composed of directors representing Crédit Agricole CIB and Société Générale, have appointed a new chairman, two vice chairman and CEO.
The new full-time independent chairman is Duncan Goldie-Morrison (pictured), who served as chairman of Newedge Board since May 2009 representing Crédit Agricole CIB, but has now resigned his position of senior advisor to Patrick Valroff, CEO of Crédit Agricole. His appointment ends the rotation of Newedge’s chairmanship between the two shareholders, reflecting their determination to strengthen Newedge’s governance and the role of the chairman.
Jacques Ripoll, Head of Global Investment Management and Services (GIMS)
Butterfield Fulcrum, an alternative fund administrator, has appointed Michael K. Clark as chief executive officer.
Clark has over 25 years of experience in the global securities industry, having led the growth of several global servicing firms.
Most recently he was president, institutional products group at Fidelity Investments since 2007.
Before that he was chief executive of both JPMorgan’s Worldwide Securities Services and its Trust and Clearing Services from 1997.
Clark’s appointment comes as Akshaya Bhargarva (pictured), current chief executive, leaves the company after three years at the helm of the business.
Jill Considine, chairman of Butterfield Fulcrum, says: “We are
The Blackstone Group has appointed John G. Finley as a senior managing director and chief legal officer, effective 1 September 2010.
Finley is currently a partner at the law firm of Simpson Thacher & Bartlett, where he is head of the global mergers and acquisitions group.
In becoming Blackstone’s chief legal officer, Finley will be succeeding Robert L. Friedman, who will continue at Blackstone for a period of time before retiring from the firm. Finley will serve on Blackstone’s executive committee.
Stephen A. Schwarzman, Blackstone’s chairman and chief executive, says: “John is one of the most outstanding corporate lawyers
Deutsche Börse is expanding its market data offering by launching a pure post-trade transparency product for its regulated exchanges.
The new information product, “MiFID Post Trade”, provides trading prices and volumes for all MiFID relevant instruments traded on the Frankfurt stock exchange (Xetra and trading floor) as well as Tradegate Exchange. The data, which is non-delayed and quality assured, offers greatest transparency and more value than data that is available for OTC markets.
“MiFID Post Trade satisfies our clients’ needs for a pure post-trade transparency product for MiFID relevant stocks,” says Georg Gross, Head of Front Office Data
Having been hithard following the suspension of Guillaume Rambourg in March, with client redemptions nearing 1 billion pounds, Gartm
Standard and Poor’s has revealed in its latest review that funds-of- hedge-funds managers have continued to build on absolute performance in
Henderson Global Investors has launched a UCITS III-compliant Hor
Luxembourg Financial Group has seen five managers join its Luxemb
June proved to be an erratic month, with the UCITS HFS Index unable to gain traction following May’s losses.
Prime Fund Solutions, the former Fortis division in the process of being acquired by Credit Suisse, has launched a front, middle and back office service for fund of hedge funds managers.
The new service combines Prime Fund Solutions’ operational capabilities with technology developed in conjunction with Comada.
The platform, called PFS Horizon, will allow fund of funds to manage the entire investment process through one interface.
The service facilitates online trade execution with post trade monitoring and reporting; position analysis with drill down to investment activity details and cash movements; cash forecasting/projection with future liquidity profile; and investment information including
