Asset Management

  • May 20, 2014

    RE Rumor Mill: Hugo Boss, Stropiq, Jane Street

    Hugo Boss is reportedly eyeing space at 1 World Trade Center, Stropic is said to be developing a North Dakota real estate project, and Jane Street Capital may move to Brookfield Place.

  • May 20, 2014

    5 Insights From Prudential General Counsel Susan Blount

    Technical excellence is the cornerstone of any legal career — inside or outside. But if you go in-house, a greater premium will be placed on business savvy, management and leadership than was likely placed on you as an associate at a law firm. If those ideas do not excite you — don’t jump, says Susan Blount, executive vice president and general counsel at Prudential Financial Inc.

  • May 20, 2014

    Fla. Bar Wants Atty Indicted For $21M Scheme Suspended

    The Florida Bar on Monday asked the state's highest court for an emergency suspension of an attorney accused of helping run a $21 million scheme through investment company Commodities Online LLC, after he failed to appear at his hearing.

  • May 20, 2014

    K&L Gates Adds International Investment Management Partner

    K&L Gates LLP said on Tuesday it has bolstered its financial services practice area in its Boston and Pittsburgh offices with the addition of an ex-Reed Smith LLP attorney who has expertise in international investment management and private equity.

  • May 20, 2014

    Top House Republican Urges Halt To SIFI Designations

    The leader of the House Financial Services committee reiterated demands for a moratorium on further designations of "systemically important financial institutions" at a hearing Tuesday, while a Gibson Dunn partner and other experts assailed regulators' decision to label Prudential Financial Inc. a SIFI.

  • May 20, 2014

    Bonomi Fund Raises Club Med Stake To Thwart Fosun Bid

    Italian investor Andrea Bonomi's Strategic Holdings SARL fund has raised its Club Mediterranee holdings to over 10 percent, becoming a top shareholder, according to the resort company's Tuesday filing with French securities regulators.

  • May 20, 2014

    Carlyle Fund Beats Investors' RMBS Risk Disclosure Appeal

    The D.C. Circuit on Tuesday upheld Carlyle Capital Corp.'s victory over a consolidated class of shareholders who accused the fund of misleading investors about its financial condition, finding that Carlyle had adequately warned them about the risks and volatility of its residential mortgage-backed securities.

  • May 20, 2014

    Ray LaHood Heads From DOT To Investment Firm Meridiam

    Former U.S. Secretary of Transportation Ray LaHood has joined global public infrastructure investor Merdiam as a senior adviser for strategic guidance, the firm announced on Tuesday.

  • May 20, 2014

    Australian Winemaker Rejects KKR's $3B Buyout Bid

    Treasury Wine Estates Ltd. rejected an April buyout offer by KKR & Co. LP on Tuesday that valued the Aussie vintner at about $3 billion, according to a published statement.

  • May 20, 2014

    LSE Enters Into Exclusive Talks To Buy Russell Investments

    Exactly one week after confirming rumors that it was considering looking into buying Russell Investments, the London Stock Exchange Group PLC said on Tuesday that it has entered exclusive talks with Northwestern Mutual Life Insurance Co. to acquire the unit.

  • May 20, 2014

    Major AstraZeneca Investor Urges $118B Pfizer Merger Talks

    British fund manager Schroders PLC, a substantial minority shareholder in AstraZeneca PLC, on Tuesday urged the company to reconsider a sweetened £69.4 billion ($118 billion) takeover bid from Pfizer Inc. that it rejected earlier in the week to effectively douse prospects for a blockbuster tie-up.

  • May 19, 2014

    SEC Commish Hints At More Scrutiny Of Lawyers

    U.S. Securities and Exchange Commissioner Kara M. Stein indicated Monday that the SEC may take a closer look at the roles lawyers play both in U.S. markets and in deterring corporate fraud, saying she was struck by their usual absence from enforcement cases brought by the commission.

  • May 19, 2014

    AXA Investment Strategy Harms Policyholders, Suit Says

    An AXA Equitable Life Insurance Co. annuity policyholder filed a proposed class action against the company in New York federal court last week alleging a failure to adequately report changes in some retirement income contracts.

  • May 19, 2014

    NJ Atty Disbarred For Concealing $500M Bayou Ponzi Scheme

    The Supreme Court of New Jersey last week disbarred Matthew Marino, brother of former Bayou Group LLC executive Daniel Marino, consummating a years-long suspension following Marino’s conviction for helping Bayou conceal its $500 million Ponzi scheme.

  • May 19, 2014

    Funds Dodge $15M Contract Row Over Facebook Investments

    A New York federal judge on Friday put to bed a $15.5 million suit alleging Galt Global Capital Inc. stiffed Antares Management LLC and its founder on work performed soliciting social media investments, saying that the deals couldn't be compensated because none were ever consummated.

  • May 19, 2014

    Credit Suisse Pays $2.6B, Pleads Guilty In Tax Evasion Case

    Credit Suisse AG on Monday agreed to plead guilty and pay $2.6 billion in a settlement with the U.S. Department of Justice and federal and New York state financial regulators over allegations that it helped American citizens evade taxes.

  • May 19, 2014

    Asset Managers May Yet Avoid Systemic Risk Designation

    A U.S. Department of the Treasury official on Monday tried to allay fears that U.S. financial regulators were set on tightening oversight of asset management firms, saying the government may decide to forgo stricter regulations — including designating major firms as systemically important financial institutions — depending on the results of an ongoing study.

  • May 19, 2014

    Ex-MF Global Execs Granted Extra $10M For Defense Costs

    Former MF Global Inc. executives including Jon Corzine on Monday received court approval to access an additional $10 million in insurance proceeds to defend themselves against litigation related to the brokerage’s collapse, despite the judge’s annoyance at the “staggering” amount that has already been spent.

  • May 19, 2014

    SEC To Lean On 'Controlling Persons' Law In Fraud Cases

    The U.S. Securities and Exchange Commission's leader said Monday that the agency will ramp up its use of a federal law that allows it to target “controlling persons” after a recent U.S. Supreme Court ruling undercut the scope of a better known anti-securities fraud statute.

  • May 19, 2014

    FINRA To Revamp Risk Data Plan After Industry Objects

    The head of the Financial Industry Regulatory Authority on Monday said his organization is revamping its plan to collect vast pools of risk data from firms after a concept proposal was met by industry complaints of being unaffordable and unworkable.