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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.

Feb 22, 2013

Banks to profit as investors eye assets leaving ECB

LONDON (Reuters) – Asset-backed bonds, banished to the vaults of the European Central Bank (ECB) in return for emergency cash, are back on investor wish-lists, giving banks a fresh shot at profits that could spur lending to the real economy.

Banks used to make billions of dollars from selling these special bonds – typically secured against slices of European mortgages, car loans and credit card debt – but the 2007 credit crisis slashed their values, killing off demand.

Feb 22, 2013

Analysis – Banks to profit as investors eye assets leaving ECB

LONDON (Reuters) – Asset-backed bonds, banished to the vaults of the European Central Bank (ECB) in return for emergency cash, are back on investor wish-lists, giving banks a fresh shot at profits that could spur lending to the real economy.

Banks used to make billions of dollars from selling these special bonds – typically secured against slices of European mortgages, car loans and credit card debt – but the 2007 credit crisis slashed their values, killing off demand.

Feb 19, 2013

EU watchdog wants code of conduct for proxy share voters

LONDON, Feb 19 (Reuters) – Groups who advise institutional
investors on which way to vote at shareholder meetings on such
matters as executive pay need a code of conduct but not
regulation, the European Union’s financial services watchdog
ESMA said on Tuesday.

After extensive analysis and consultation with market
participants, The European Securities and Markets Authority
(ESMA) said it had concluded that the proxy adviser industry did
not need regulatory intervention but a voluntary Code of
Connduct could give reassurance on the independence of advisers
and the quality of their advice.

Feb 11, 2013

No payday for bankers in Vanguard global growth push – CEO

LONDON (Reuters) – Funds giant Vanguard has ruled out a flotation or big-ticket takeover spree after netting record volumes of new business in 2012, crushing the hopes of dealmakers circling one of the world’s fastest growing managers.

Chief Executive Bill McNabb said the firm, famous for its low-cost, conservative and long-term investment ethic, would “never go public” because he feels listing on the stock market creates a conflict of interest between shareholders and clients.