LONDON, March 15 (Reuters) – Threadneedle has seen two top
fund managers exit in recent weeks as the British firm rejigs
its investment teams in the aftermath of the financial crisis.
William Frewen, head of fixed income, left Threadneedle last
month and Chris White, senior fund manager in the equities team,
has also quit.
LONDON, March 11 (Reuters) – Major shareholders in Britain’s
Prudential <PRU.L> are warming to the insurer’s $35.5 billion
bid for AIG’s Asian business <AIG.N> following meetings with
chief executive Tidjane Thiam, investor sources said.
Thiam, who has been meeting UK investors this week to
explain the merits of the blockbuster deal, appears to be
winning over sceptics, they said.
LONDON, March 9 (Reuters) – UK fund firm Gartmore <GRTR.L>,
which made its market debut in December, swung to a 2009 pretax
profit of 47.6 million pounds ($71.34 million) and said it saw
strong net inflows in early 2010 into its hedge fund products.
At 0959 GMT, Gartmore shares were up 2.89 percent to 195.5
Chief Executive Jeffrey Meyer told reporters net inflows in
the first two months of the year were 273 million pounds, of
which 210 million pounds were in its hedge funds.
LONDON, March 4 (Reuters) – HSBC <HSBA.L> is paying its
chief executive an extra 300,000 pounds ($451,800) a year for
living costs following his relocation to Hong Kong, as the
bank’s plan to increase his salary remains under scrutiny.
HSBC <0005.HK> sought to increase CEO Michael Geoghegan’s
base salary by about a third ahead of this week’s results but
investors resisted amid fears of a public backlash about higher
pay for bankers, people familiar with the matter said.
LONDON, March 4 (Reuters) – British fund firm Schroders
<SDR.L> posted forecast-beating 2009 profit, helped by a return
of risk appetite that saw strong net inflows into its products,
and said 2010 had started well.
Schroders, whose shares were up 4.3 percent at 1145 GMT on
Thursday to be the top FTSE 100 <.FTSE> gainer.
LONDON, March 2 (Reuters) – The funds arm of German insurer
Allianz <ALVG.DE>, expects its Indian joint venture to start
operations by year-end, and to score an advantage over rivals
who were quicker to enter the much-touted market, its CEO said.
Allianz Global Investors (AGI) chief executive Joachim Faber
said the venture with the financial services arm of the Indian
Bajaj Group <BJFS.BO> is currently in the process of obtaining
LONDON (Reuters) – Travelport’s scrapped listing shows investors are wary to buy private-equity backed assets, casting a cloud over planned sales of travel firm Amadeus, theme park operator Merlin and retailer New Look.
Blackstone-backed Travelport, forced to call off its $1.8 billion Initial Public Offering (IPO) after lowering its price, follows a raft of failed flotations in Europe, with investors unwilling to help companies reduce debt.
LONDON (Reuters) – Private equity-backed airline ticketing firm Travelport called off its $1.78 billion London listing on Wednesday, citing poor market conditions, the latest in a slew of failed IPOs across Europe.
The decision to postpone what would be the biggest initial public offering (IPO) in London in two years followed scrapped deals of Belgium chemical firm Taminco, UK bank Walton & Co. and Germany’s Hochtief Concessions.
LONDON (Reuters) – Airline ticketing firm Travelport is testing investor appetite by lowering its initial public offering (IPO) price range by a quarter, fund managers said, trying to rescue its $1.78 billion London listing.
The private equity-owned group on Wednesday slashed the price range for the listing, which would be the biggest in London for almost two years, to between 180 pence and 190p per share from 210p to 290p previously, fund managers said.
LONDON, Feb 10 (Reuters) – Investors have scorned last-gasp
changes to a planned $1.8 billion listing by airline ticketing
firm Travelport, casting doubt on whether the issue will attract
the long-term shareholders which mark a successful IPO.
The private-equity-owned travel services firm has tweaked
part of its remuneration policy to cut the amount directors and
staff would receive if operating profit growth went above 12