Unstructured Finance

BoNY refocuses on Europe

October 27, 2009

As head of the world’s largest custodian of financial assets, Robert Kelly is paid to be alert to buying opportunities. So it’s interesting to hear Kelly, chairman and chief executive of Bank of New York Mellon, tell reporters in Beijing that financial assets in Europe are more attractive than those in Asia and that, as a consequence, the bank is refocusing its businesses.

KBW analysts see asset manager deals

August 10, 2009

Asset managers are in for some deal-making as the sector tries to deal with the chinks exposed by the financial crisis, KBW analysts predict.”Stressed capital markets have depressed profitability at most asset managers and brought to the fore many of the challenges that have been confronting the industry but were obscured by the bull market,” the analysts write in a report.Some of the deal activity has already been playing out as divestitures by financial services companies, with negotiations ongoing for such units as AIG’s business and Bank of America’s Columbia.KBW’s analysts predict most acquisitions are likely to be smaller transactions.Possible buyers? Invesco, BlackRock, Bank of New York Mellon, Franklin Resources, Legg Mason, Affiliated Managers Group, Federated Investors, Blackstone, Fortress, GLG Partners and others have expressed a continued interest in acquisitions, they said.Those hungry for larger deals could include Franklin and Bank of New York Mellon, the analysts said, adding that they see little likelihood of deals between publicly traded asset managers.

“Go Shop” clause pays off for Barclays

June 8, 2009

Barclays‘ seemingly never-ending effort to get top dollar for its Barclays Global Investors unit appears to be enticing some Middle East money behind the current best bid from U.S. fund manager BlackRock, which is believed to be in the neighborhood of $12 billion.

Wall Street bankers — so humble, so frugal!!!

February 11, 2009

BERNANKE/It is amazing how the prospects of a grilling in Washington can make Wall Street’s CEOs behave. Until a little while ago, these were the masters of the masters of the universe. An elite group of highly paid stars who rarely showed signs of vulnerability, who rarely seemed to doubt their place at the top of the heap. But take a look at the testimonies they have prepared for today’s hearing at the House Committee on Financial Services and it looks like they have begun to embrace the new era, the new religion.

Job Bank – Oct. 30

October 30, 2008

The following financial services industry appointments were announced on Oct. 30, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please email moves@thomsonreuters.com.

Job Bank – Oct. 13

October 14, 2008

The following are job changes within the financial industry for Oct. 10, linked where possible to personal and company profiles on LinkedIn. To inform us of other job changes, please e-mail moves@thomsonreuters.com.