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Silicon Valley: A Friend or Foe to Asset Management?

Accenture Capital Markets

The financial services industry—including asset managers—has had an interesting relationship with Silicon Valley. Asset managers should not assume that these tech giants will look past this industry. This is just what Alibaba, an Amazon-like tech firm in China, did when it entered the mutual fund business in that market.

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MetLife IM set to acquire investment teams managing $6 billion from Mesirow

The TRADE

MetLife Investment Management (MIM) has reached a definitive agreement to acquire three investment teams and assets managed by Mesirow, an independent financial services firm. Nearly $6 billion of assets managed by the acquired team will transfer to MIM, under the terms of the transaction.

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Asset managers looking to shake up strategy in next two years, Northern Trust survey finds

The TRADE

Some 83% of asset managers plan to change product strategy in the next two years, a new survey from Northern Trust has found, emphasising the need to cater to diverse investor needs. Technology appears to be at the heart of that change, with 77% planning to leverage new tech within the same timeframe.

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Three Ways Institutional Investors Could Increase RPA Success

Accenture Capital Markets

This is mostly because a large share of the total spend is related to front-office costs that RPA does not address, such as staff compensation, investment management fees and deal costs. To overcome these challenges, the institutional investors who are most successful with RPA typically base their programs on three pillars: 1.

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SIFMA and asset management arm voice concerns over the SEC’s proposal to redefine exchanges

The TRADE

SIFMA and its asset management arm have published an open letter expressing concerns about the SEC’s proposal to redefine what constitutes an exchange and expand Regulation ATS, stating that it is not appropriately tailored to existing systems.

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People Moves Monday: BNY Mellon, BlackRock, Tourmaline Partners and more…

The TRADE

BNY Mellon made two key senior managing director hires into its fixed income and equity sales and trading businesses. Gould joined BNY Mellon after three years at RBC Capital Markets where she previously served as co-head of equities electronic sales and trading.

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People Moves Monday: Musical chairs

The TRADE

RBC Capital Markets appointed Giles Gleave and Mike Heraty as its newest managing directors, according to an internal memo seen by The TRADE. He has been appointed senior trader at Norges Bank Investment Management, based in New York.