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BNP Paribas has entered into a definitive agreement to acquire 100% of AXA InvestmentManagers – representing around €850 million in assets under management – for just over €5 billion. The deal is set to include an agreement for BNP Paribas’ long term management of a large part of AXA’s assets.
New investor BNP Paribas, alongside existing shareholders Bank of America, Barclays, Citi, Goldman Sachs, JP Morgan, and Wells Fargo, have closed a $25.4 Currently, the TDN comprises 16 banks and brokers and 40 investmentmanagers and hedge funds. The post Major sell-side banks lead $25.4
With increasing process and decision-making automation in trading, I cannot see this evolving in that direction – unless the trader makes a script to instruct the systems to route volume based on what broker took him/her out for lunch that week, in which case the trader would need to know how to program!
Bloomberg has introduced a white label solution for US treasuries, allowing a wide range of broker dealers to provide liquidity for trades initiated on its platform as part of its D&I dealer initiative. The offering – which has been expanded to include US treasuries – is used by investmentmanagers and bond dealers as a pool of liquidity.
The initiative is made up of 16 banks or brokers, as well as 40 investmentmanagers and hedge funds with combined assets under management of more than $37 trillion. FIA Tech stated that adding capability and scalability to support the operational resiliency needs of firms was a natural extension of the platform.
Jenny Johnson, president and chief executive of Franklin Templeton, said: “With outstanding investment performance, Putnam will add complementary capabilities to our existing specialist investmentmanagers to meet the varied needs of our clients and will increase Franklin Templeton’s defined contribution AUM.”
Read more: Fireside Friday with… Morgan Stanley’s Maria Salamanca Mejia Previously in his career, McMahon worked as a centralised dealer at Bank of Ireland Asset Management, working on the multi-asset global trading desk.
The three firms join a growing list within Sustainable Trading’s global membership network of investmentmanagers, banks, brokers, exchanges, trading platforms and service providers who share the goal of improving the sustainability of global markets.
As part of a major scheme from the Monetary Authority of Singapore (MAS) to develop the region as a global FX trading hub, several large banks over the last few years agreed to develop FX pricing and trading engines in Singapore, in partnership with MAS. This year, the industry has seen interest in Singapore grow from the buy-side too.
Prior to his stint at JP Morgan Chase, Russo spent nearly four years at online investmentmanagement firm Nutmeg, most recently as senior trader. Elsewhere in his career, Russo spent three and a half years at James Hambro & Partners and one year at the British Arab Commercial Bank (BACB) in operations-focused roles.
The development will allow compliance analysts at banks, brokers and investmentmanagers to prioritise high-risk alerts, investigate them better and streamline the entire review process, which SteelEye claims to reduce investigation time by up to 90%.
The initiative currently includes 16 banks/brokers as well as 50 investmentmanagers and hedge funds with combined assets under management of more than $37 trillion. Earlier this year, FIA Tech enhanced TDN to support the operational resiliency demands of clearing firms utilising the platform.
Given that the settlement cycle is now shorter in the US trading volumes on a Thursday have dropped off significantly thanks to funding requirements that require brokers to fund a position for an additional three days on Friday, Saturday and Sunday given the slightly longer settlement cycle in Europe, the UK, and most of Asia Pacific.
Prior to this move, Baltussen was head of equity factor investing and co-head of quantitative fixed income at Robeco and before that spent three years at NN Investment Partners, most recently as head of quantitative research for multi-asset strategies. Both joined from Wall Street giant Citi and will be working alongside Tim Caulton.
But there are a number of factors at play which make the future an enticing space to watch as only time will tell whether the independents can continue to thrive among a growing crowd of institutional banking players. Each provider, independents and banking giants alike, are stacking their rosters with buy-side experience.
The active investmentmanager specialises in emerging and frontier markets trading across fixed income, credit and specialist equities. She began her career with a two-year stint as a principal dealer at Bank of Ireland Global Markets. The London-based trading team at Ninety One has a very particular set of skills.
Whilst in smaller sizes it might not make much of a difference, for larger-sized credit trades quoting a multitude of banks, using RFM is likely to worsen the pricing received,” Welsby explains. And, makes it extremely important to pick and choose when you use protocols.
A friend suggested I consider investmentbanking and following a trading and sales summer placement at ABN AMRO in the City, I was instantly captivated – I had found my fit. Fast forward to the end of my studies, I applied for a position at a European investmentbank.
I’ve always worked in the asset management industry, starting my first job at 18 with Scottish Amicable InvestmentManagement in Glasgow. I joined the banking services team and within that team sat the Treasury function consisting of a money market and FX trader.
As part of the integration, OptimX is now a certified sweep partner on Charles Rivers investmentmanagement system (IMS) meaning Charles River institutional clients can now access OptimX liquidity via their desktops.
Central to the growth of the off-book segment and perhaps responsible for ruffling the most feathers is a relatively new workflow whereby non-bank liquidity providers quote directly to the buy-side via their execution management systems (EMS) leveraging actionable indications of interest (IOIs).
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