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Apr 8, 2013

Europe’s fund firms do battle for business

LONDON/FRANKFURT, April 9 (Reuters) – The rising cost of
running vast numbers of investment funds is outpacing the money
available to flow into them, prompting European managers to
shake up what they sell.

The moves – which could help the firms earn better returns
for savers and bigger profits for themselves – contrast with the
response to the financial crisis in 2007.

Apr 2, 2013

Trade body rolls out compulsory integrity tests for bankers

LONDON, April 2 (Reuters) – Thousands of financial sector
workers risk being frozen out of the industry unless they pass
mandatory tests measuring their personal ethics and integrity.

The Chartered Institute for Securities & Investment (CISI),
a professional body for individuals working, or seeking careers
in wealth management and capital markets, wants all of its
members to undergo integrity screening or face losing their
membership, as it battles to restore public faith in finance.

Mar 24, 2013

Analysis: Second “Shareholder Spring” unlikely to bloom in Europe

DUBLIN/LONDON (Reuters) – While politicians and public have fulminated against lottery-sized pay awards in Europe’s boardrooms, fund firms, which wield the real power, are less concerned by such excesses and unlikely to use new powers to revolt on remuneration.

Last year’s so-called “Shareholder Spring” against bosses’ salaries in Britain toppled few CEOs, and institutional investors typically prefer to keep battles with boards private.

Mar 24, 2013

Second “Shareholder Spring” unlikely to bloom in Europe

DUBLIN/LONDON, March 24 (Reuters) – While politicians and
public have fulminated against lottery-sized pay awards in
Europe’s boardrooms, fund firms, which wield the real power, are
less concerned by such excesses and unlikely to use new powers
to revolt on remuneration.

Last year’s so-called “Shareholder Spring” against bosses’
salaries in Britain toppled few CEOs, and institutional
investors typically prefer to keep battles with boards private.

Mar 15, 2013

Schroders loses UK equity chief to Old Mutual

LONDON, March 15 (Reuters) – Richard Buxton, head of UK
equities at Schroders and one of Britain’s
highest-profile fund managers, is leaving to join smaller rival
Old Mutual Global Investors, both firms confirmed on
Friday.

Errol Francis who co-managed the Schroder UK Equity Fund and
has worked with Buxton for 16 years, will also leave for Old
Mutual Global Investors.

Mar 15, 2013

Schroders loses UK equity chief to Old Mutual – sources

LONDON, March 15 (Reuters) – Richard Buxton, the head of UK
equities at Schroders and one of Britain’s
highest-profile fund managers, is leaving to join smaller rival
Old Mutual Asset Managers, two sources close to the
matter told Reuters.

Schroders said late on Thursday that Buxton would leave the
company on June 14 after more than 11 years at the company.

Mar 14, 2013

Hedge funds see profits as central banks print money

LONDON, March 14 (Reuters) – Global central banks competing
to push their currencies lower and boost sluggish economies have
opened up money-making opportunities for hedge funds this year.

Policymakers from Tokyo to London are freely printing money
to lower the relative value of their currencies and make their
exports more attractive.

Mar 6, 2013

Europe moves towards Swiss-style executive pay curbs

BRUSSELS/LONDON, March 6 (Reuters) – European officials,
emboldened by a victory over banker bonuses, will propose
legislation this year giving shareholders voting rights to
challenge executive pay at public companies.

Corporate largesse is under attack across Europe with
Switzerland last week voting to impose some of the world’s
strictest controls on executive remuneration amid public anger
at Wall Street-style excess in the country’s boardrooms.

Feb 25, 2013

Insurer Hiscox plans 200 million pound capital return

LONDON (Reuters) – Insurer Hiscox Ltd (HSX.L: Quote, Profile, Research) plans to return 200 million pounds to investors after Superstorm Sandy failed to derail a bumper year of growth in its global underwriting business.

Bermuda-based Hiscox, whose policies cover everything from oil refineries to fine art, posted a more than 10-fold rise in pretax profit to 217.1 million pounds in the year to December 31 from 17.3 million a year earlier and said it would share much of the sum with investors via a special dividend and share scheme.

Feb 25, 2013

Insurer Hiscox plans 200 mln stg capital return

LONDON, Feb 25 (Reuters) – Insurer Hiscox Ltd plans
to return 200 million pounds ($305.3 million) to investors after
Superstorm Sandy failed to derail a bumper year of growth in its
global underwriting business.

Bermuda-based Hiscox, whose policies cover everything from
oil refineries to fine art, posted a more than 10-fold rise in
pretax profit to 217.1 million pounds in the year to Dec. 31
from 17.3 million a year earlier and said it would share much of
the sum with investors via a special dividend and share scheme.