tag:blogger.com,1999:blog-19475251447014585512024-09-16T05:13:18.417+03:00Business Investments Risk ManagementAndrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.comBlogger64125tag:blogger.com,1999:blog-1947525144701458551.post-47484023225447271382007-09-14T01:33:00.000+03:002007-09-14T01:35:07.112+03:00

A former Goldman Sachs proprietary trading team has been broken up after failing to perform at Fulcrum Asset Management, a UK hedge fund manager co-founded by ex-BBC chairman Gavyn Davies.Davies, who in 2004 co-founded Fulcrum Asset Management with Andrew Stevens and Christian Siva-Jothy, all formerly of Goldman Sachs, has split out its SemperMacro fund, which has suffered heavy redemptions after

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com7tag:blogger.com,1999:blog-1947525144701458551.post-50785612155543642362007-09-14T01:32:00.000+03:002007-09-14T01:33:00.581+03:00

Credit Suisse has re-hired an investment banker who left six years ago for NM Rothschild as head of European equity institutional placements to work with corporations looking to raise capital.Reggie Mills joins the Swiss bank from NM Rothschild, where he spent six years as head of private equity agency practice. Prior to that he worked for nine years in investment banking at Credit Suisse in New

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-71350530302982717842007-09-14T01:31:00.000+03:002007-09-14T01:32:32.177+03:00

Citi has become the latest western bank to launch an equities business in Turkey after buying local broker Opus Menkul Değerler. The bank has had offices in Turkey since 1975 but now will be able to work on local deals without using an intermediary broker.Merrill Lynch, Credit Suisse, UBS and Morgan Stanley have all bought local brokers in the last 18 months, in order to obtain broking licences.

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-14502776416285497882007-09-14T01:28:00.003+03:002007-09-14T01:28:54.604+03:00

Barclays Capital has completed the restructuring of a $1.8bn (€1.3bn) structured investment vehicle run by UK hedge fund Cairn Capital that ran into funding problems in the face of increasingly tough conditions in the commercial paper market.Barclays and Cairn said in a statement today they have restructured the Cairn High Grade Funding I vehicle, one of several so-called SIV-lite funds that

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-40670607472944951212007-09-14T01:28:00.001+03:002007-09-14T01:28:13.514+03:00

Deutsche Bank has successfully sold a new synthetic collateralised debt obligation referencing the credit derivatives traded on Russian companies, proving investors still have appetite for such risky complex debt instruments despite the turmoil in the credit markets.The 8.95bn ruble (€257m) CDO, dubbed Vityaz CDO I, closed yesterday some three months after volatility born from the sub-prime

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-47454185459902503112007-09-14T01:27:00.001+03:002007-09-14T01:27:32.129+03:00

Wachovia Securities has redeployed its top US real estate capital markets banker to London in the latest sign of the US bank’s push to grow its international business.Bill Green, who was previously head of real estate capital markets in the US, has switched to become head of real estate for Europe as part of a string of changes sparked by Wachovia’s decision in April to combine its real estate

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-66392053519950141642007-09-14T01:26:00.000+03:002007-09-14T01:27:00.676+03:00

A Turkish sharia-compliant bank has launched a landmark Islamic loan in the hope that it will prove popular as investors seek greater security from non sub-prime issues.The $100m (€72.5m) Murabaha syndication, one of the biggest of its kind and the biggest from Turkey, was issued by Turkiye Finans Katilim Bankasi.Humphrey Percy, chief executive of Bank of London and Middle East, a specialist bank

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-57514658876540203722007-09-14T01:25:00.002+03:002007-09-14T01:26:27.738+03:00

Bank traders are hoping to profit from what they believe will be a repricing of non-agency mortgage backed securities, believing that a discount caused by the sub-prime fallout is about to be reversed.Highly-rated non-agency mortgage bonds, issued by banks such as Citi and Wells Fargo, have historically traded in line with their agency counterparts because the quality of the loans is

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-28953398323087253592007-09-14T01:25:00.001+03:002007-09-14T01:25:50.630+03:00

Merrill Lynch has become the latest investment bank to exploit the changing French political landscape with the recruitment of a senior figure from the Ministry of Finance to boost its position in the mergers and acquisitions rankings.The US bank has hired Luc Remont, deputy chief of staff to former Finance Minister Thierry Breton, as a managing director in its Paris investment banking business

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-91819316061836393462007-09-14T01:24:00.002+03:002007-09-14T01:25:18.128+03:00

Investment banks successfully sold around $6.5bn (€4.7bn) of corporate collateralised loan obligations last month, proving there is still demand for structured credit products that part bundle leveraged loans despite broad market volatility.The sale of CLOs, which with hedge funds have been one of the chief buyers of leveraged loans backing private equity buyouts, is a small triumph for a market

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-56597464802496690282007-09-14T01:24:00.001+03:002007-09-14T01:24:45.767+03:00

CVC Capital Partners has structured one of Europe's largest buyouts since the summer credit crunch with the €2.5bn ($3.5bn) recommended bid for a listed Dutch chemicals company set to be one of the biggest deals to use major debt funding since the downturn.CVC is paying $2.2bn for Euronext-listed Univar's equity, plus a further $1.3bn in assumed debt which the company already holds. To pay for

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-67861514290855988582007-09-14T01:23:00.002+03:002007-09-14T01:24:13.995+03:00

A top analyst has warned that roller-coaster shares price movements in China could become the norm, following Tuesday's 4.5% decline in share prices on Chinese exchanges.The benchmark Shanghai Composite Index plunged 4.5% on fears of more aggressive tightening by regulators following the release of the latest CPI figure of 6.5% and the pressure of a 200 renminbi billion special treasury bond

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-56780046652018117852007-09-14T01:23:00.001+03:002007-09-14T01:23:39.264+03:00

Lazard is planning to take on Switzerland’s biggest banks and other top merger and acquisitions advisers after opening its first office in the country as part of its push to grow its European business.The new office in Zurich expands Lazard's network in Europe, alongside existing offices in the UK, France, Germany, Italy, the Netherlands, Spain and Sweden, to eight countries.The creation of the

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-25223811635377845412007-09-14T01:21:00.002+03:002007-09-14T01:23:02.916+03:00

Société Générale’s corporate and investment banking division in London is understood to have lost its ninth corporate derivatives banker in six months with the departure of a specialist covering Greek clients last week.Dimitrios Planiotis, who covered the Greek corporate sector for the investment bank, resigned last Thursday in the latest of string of bankers to have left its European corporate

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-56659886424467222622007-09-14T01:21:00.001+03:002007-09-14T01:21:39.177+03:00

JP Morgan hedge fund assets have rocketed 66% in a record half year, propelling it to the top spot in the sector, as the largest US firms benefited from an unprecedented wave of inflows on the cusp of the credit squeeze.JP Morgan’s Highbridge Capital Management helped boost the bank’s assets under management to $56.2bn (€40.6bn) in the first half of the year, compared to $34bn for all of last

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-81575684782587284332007-09-14T01:20:00.000+03:002007-09-14T01:21:02.850+03:00

Italian energy company Enel is preparing to sell close to $5bn (€3.6bn) worth of bonds by the end of this week to become the latest European company since AstraZeneca to test the depth of investor appetite for corporate debt amid still-turbulent markets.AstraZeneca, the Anglo-Swedish pharmaceutical group, returned to the primary new issue market for the second time in a week yesterday when it

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-34042076872346735022007-09-14T01:17:00.002+03:002007-09-14T01:20:01.583+03:00

Participants in the $1.2 trillion (€866bn) global asset-backed commercial paper sector are confident that investors have regained some of their focus this week after a series of shocks that brought the market to a halt over summer, but they have conceded there is still work to be done to restore confidence and stability to the sector.Two debt market trade bodies, the American Securitisation Forum

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-82300653139929355642007-09-14T01:17:00.001+03:002007-09-14T01:17:24.632+03:00

Analysts have expressed concern over the scale of Citi’s exposure to leveraged loans after they met with the bank’s head of risk management.Citi is among a number of banks committed to provide financing for some leveraged buyouts that are facing resistance from investors but it has greater exposure than its rivals.The claim was made in a research note by JP Morgan Chase analyst Vivek Juneja

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-79814825441526666542007-09-14T01:05:00.000+03:002007-09-14T01:06:45.284+03:00

UBS (NYSE:UBS) and Credit Suisse (NYSE:CSR) on Wednesday underlined their dominance of Switzerland's new securities trading, clearing and payments company through an almost one-third stake in the group's capital.The two banks will also have the strongest boardroom representation, nominating two of the 10 directors of Swiss Financial Market Services, the name for the new holding group, to be

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-53355371418184127582007-09-14T01:03:00.000+03:002007-09-14T01:04:32.102+03:00

With European banks stockpiling cash and wary of lending to each other for periods longer than a week, the European Central Bank pumped €75 billion, or about $104 billion, in three-month credit into money markets yesterday in another effort to bring dealings back to normal.The extra longer-term funding, the second such maneuver in nearly three weeks, was in addition to the ECB's routine

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-2457703704267872962007-09-14T01:02:00.002+03:002007-09-14T01:03:24.763+03:00

Hong Kong Shares Rise to Second Straight Record Close, Led by Property Stocks Hong Kong shares rose to a second straight record close Thursday, boosted by property stocks on expectations of a U.S. interest rate cut next week.The blue chip Hang Seng index rose 226.88 points, or 0.9 percent, to 24,537.02.ADVERTISEMENT But analysts said the benchmark index is unlikely to rise much further, and

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-71835291666626346722007-09-14T01:02:00.001+03:002007-09-14T01:02:42.128+03:00

Two more analysts upgraded Thornburg Mortgage Inc. on Thursday, as the home lender appears to have averted the worst of the mortgage crisis.After the Wall Street banks that finance the mortgage industry pulled most of their money out earlier this year, hundreds of cash-starved mortgage lenders scrambled to raise money. This led to a lot of sellers and few buyers for mortgage investments, pulling

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-37310302260226019172007-09-14T01:00:00.000+03:002007-09-14T01:01:55.615+03:00

London equities staged a turn-around and reversed early losses in early afternoon as oil stocks surged ahead after crude oil price hit a record-high.The FTSE 100 was 0.7 per cent higher at 6,349.1, a gain of 42.7 points. However, the FTSE 250 remained in the red, falling 0.5 per cent, or 57.3 points to 11,162.4 as mid-cap investment companies continued to fall amid tense credit conditions.Oil

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-34642043995844179782007-09-14T00:58:00.000+03:002007-09-14T00:59:42.261+03:00

On Thursday, McDonald's (nyse: MCD - news - people ) said it would funnel more money back to shareholders by raising its annual dividend by 50%, to $1.50 a share. The increase is part of a plan to deliver between $15 billion and $17 billion in cash to investors over the next two years, the company said. The company's generosity was certainly good news for investors, as shares of the company

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1tag:blogger.com,1999:blog-1947525144701458551.post-35767972981203498922007-09-14T00:57:00.001+03:002007-09-14T00:57:54.842+03:00

Shares of Quicksilver Resources Inc. jumped an additional 5 percent Thursday, one day after the energy exploration and production company said it was selling off its Midwest natural gas and oil assets. The company said early Wednesday it would sell assets in Michigan, Indiana and Kentucky for nearly $1.44 billion in cash and a 31.9 percent stake in BreitBurn Energy Partners LP. The stock rose 3.2

Andrewhttp://www.blogger.com/profile/05862579270199892472noreply@blogger.com1