Sinead's Feed
Jun 18, 2012

Man Group woes mount as finance head exits

LONDON (Reuters) – Man Group Plc (EMG.L: Quote, Profile, Research, Stock Buzz) announced the sudden departure of its finance director, the second key executive the group has lost in a week, hurting its attempts to regain investor confidence following an extended poor performance at its flagship AHL fund.

Man said on Monday Finance Director Kevin Hayes had left to pursue other professional interests with immediate effect, to be replaced by Jonathan Sorrell, son of WPP Plc (WPP.L: Quote, Profile, Research, Stock Buzz) Chief Martin Sorrell and formerly Man’s head of strategy and corporate finance.

Jun 14, 2012

Tough weeks ahead as pay sours Glencore-Xstrata deal

LONDON, June 14 (Reuters) – Heightened emotions over
executive pay are likely to hang over Glencore and
Xstrata bosses’ last ditch meetings with key investors,
raising tensions in the last weeks before a July vote on the
trader’s $30 billion takeover bid.

Top executives from both sides are trying to convince
recalcitrant Xstrata shareholders to back not just the deal, but
also an unpopular retention package worth more than 170 million
pounds ($265 million) for the miner’s top 73 managers – a team
whose operational expertise they say is key to future profit.

Jun 14, 2012

International super-rich target California property

LONDON (Reuters) – The super-rich investors responsible for London’s prime property bubble are adding California to their wish lists, lured by bargains offering crisis-defying returns as an overdue churn in the United States property market finally gets under way.

Wealthy European and Asian investors who have dominated the market for addresses in London’s most fashionable neighbourhoods are frequently outbidding locals for assets in the Golden State, U.S. real estate brokers report – and banks, long shackled by the volume of distressed property on their books, are in the mood to cut deals.

Jun 14, 2012

International super-rich target California real estate

LONDON, June 14 (Reuters) – The super-rich investors
responsible for London’s prime real estate bubble are adding
California to their wish lists, lured by bargains offering
crisis-defying returns as an overdue churn in the United States
property market finally gets under way.

Wealthy European and Asian investors who have dominated the
market for addresses in London’s most fashionable neighbourhoods
are frequently outbidding locals for assets in the Golden State,
U.S. real estate brokers report – and banks, long shackled by
the volume of distressed property on their books, are in the
mood to cut deals.

Jun 12, 2012

Investors shun euro zone funds in April-Lipper

LONDON, June 12 (Reuters) – Investors poured more than 7
billion euros ($8.76 billion) into funds domiciled outside the
euro zone in April, as fears of a collapse of the currency bloc
smothered demand for funds from countries on the front line of
Europe’s economic woes.

Estimated net sales for funds in Switzerland and the United
Kingdom reached 3.53 billion euros and 2.59 billion euros
respectively, helping to drive sales of non-euro zone mutual
funds to their highest level since December 2010, Lipper data
shows.

Jun 12, 2012

Investors spooked by companies’ zombie pensions

LONDON, June 12 (Reuters) – Many companies in Europe risk
scaring off investors unless they can find ways to deal with
big pension deficits that threaten to eat into cash piles
originally earmarked for capital investments and dividends.

Some firms are haunted by “zombie” pension schemes, so
called because their pension liabilities dwarf the market value
of the company itself.

Jun 8, 2012

Computer trading models crash from favour

LONDON, June 8 (Reuters) – Investors are losing faith in the
computer-based trading models that made them millions in the
bull market years, as Europe’s financial convulsions have shown
how poorly they cope with the unpredictable.

Once beloved of funds dealing in scores of securities across
the globe, the sovereign debt crisis and its daily assault on
markets have exposed weaknesses in the ‘black box’ investment
approach, now seen by some as a liability rather than an asset.

Jun 1, 2012

Standard Life, Fidelity slam Xstrata golden handcuff

LONDON, June 1 (Reuters) – Two of Xstrata’s top 10
shareholders lashed out on Friday at the miner’s “excessive”
plans to pay a $46 million retention package to its CEO,
threatening its big-ticket takeover by Glencore.

Mick Davis is slated to receive a three-year retention deal
worth almost 30 million pounds if Xstrata’s $30 billion takeover
by the commodities trader proceeds.

May 28, 2012

Bond investors could desert banks over new rules

LONDON, May 28 (Reuters) – Bond investors say they could
stop funding Europe’s fragile banks if rules designed to
insulate them from shocks are put in place, making financial
institutions even more vulnerable to the debt crisis and
possibly more reliant on taxpayer money.

Global regulators want bondholders to give up a privileged
position which gives them a priority over other investors if a
bank runs into trouble, in favour or people who deposit their
money in an account.

May 8, 2012

UK wealth managers face regulatory crackdown

LONDON, May 8 (Reuters) – Investment managers are risking
f ines, career-long bans and even jail time by unwittingly
breaking compliance rules, consultants and lawyers warn, as the
regulator starts to get tough.

Fund firms and asset managers responsible for millions of
pounds of clients’ cash have so far been largely spared the
intense scrutiny other financial professionals have got used to
in the fallout from the global financial crisis.