Northern Trust Opens Beijing Branch
The bank and asset manager has been given permission by the Chinese government to open a new custody office for institutional clients in Beijing.
News Archive: Aug - 2010
Survey: Sentiment for US Stocks Among HF Managers Grows Bearish
Amid concern about slowing economic growth, a new survey shows more than a third of managers are increasingly bearish about the US stock market and upbeat on 10-year Treasuries.
Pension Deficits Haunt 32% of FTSE Firms
A study by KPMG shows 32% of firms "can now not payoff deficits in any realistic time frame from discretionary cash flow."
Amid Bribery Scandal, Suspended Top Investment Officer Leaves CalPERS
A civil lawsuit against CalPERS alleges that placement agent Al Villalobos attempted to "bribe" Shahinian in 2007 by flying him via private jet to New York to attend a fund-raiser honoring Apollo Management LP founder Leon Black -- a month later, Shahinian recommended an investment in Apollo from CalPERS, the suit alleges.
Blackstone Execs Forced to Return $3 Million of Pay
In the firm's first "clawback," Blackstone executives returned $3
million in carried interest to investors in Blackstone Real Estate
Partners International LP during the second quarter.
Activists Urge Gates Foundation to Shift to Socially and Ecologically Appropriate Practices
Activists are organizing a campaign to urge the $33 billion Gates Foundation to sever ties with agribusiness giant Monsanto and other firms involved in developing bio-engineered crops, encouraging the foundation to shift its funding priorities from industrial agriculture to socially and ecologically appropriate practices.
SEC Steps Up Crisis Action
The US Securities and Exchange Commission (SEC) has warned that it will bring more high-profile enforcement actions against Wall Street over the financial crisis.
Corporate DB Plans Aim to Minimize Global Investment Risk, Survey Says
The survey of 114 cross-border organizations found that more than three-quarters (77%) are seeking to make changes to promote better management of risk globally, while many are considering changes to elements of their governance frameworks.
UK's Pension Protection Fund Plans for 110% Funding by 2030
Britain's Pension Protection Fund (PPF), created in 2005, aims to build its solvency ratio to 110% over the next 20 years, from 88% in March 2009.
SEC Gives Power to Shareholders to Influence Boards
Long sought by investor advocates, the new rule by the SEC makes it
easier for shareholders to nominate directors of public companies.
Illinois TRS May Sell Up to 10% of Investment Portfolio
Unless lawmakers find a solution for the financially-strapped state to make its pension contributions this fiscal year, the $33.1 billion Illinois Teachers' Retirement System will be forced to sell investments to cover benefits.
CPPIB Invests $329 Million in Aussie RE Fund
As part of its latest bid to acquire new Australian assets, the Canada Pension Plan Investment Board says it is providing hundreds of millions of dollars in financing to a restructured Australian retail property fund.
Norway's SWF Drops Israeli Companies Citing 'Grossly Unethical' Actions; Africa Israel Says Claims Are Groundless
Norwegian Finance Minister Sigbjorn Johnsen said the oil fund has excluded two Israeli firms for ethical reasons.
NYSE Confirms Price Reporting Delays That Contributed to the Flash Crash
ai5000's Joe Flood digs into the causes of the May 6th Flash Crash — when nearly 1000 points mysteriously disappeared from the market in a matter of minutes — and unearths internal analysis leaked from a Bank That Shall Not Be Named, surprising new data from the market research firm Nanex, and a first-time admission from the NYSE: that there were significant price reporting delays on May 6th, delays which contributed to the Crash.
Former Wesleyan University CIO Sued by CT Attorney General
Connecticut's attorney general alleges that Thomas Kannam's “golf outing of the century” in California, a Super Bowl outing, and a trip to the United Kingdom with his entire family to interview for a job at Cambridge University were flagrant abuses of both his power and of the university's endowment assets.