• FN Weekend: A roundup of the must-read news, commentary and analysis from Financial News this week — courtesy of… Link
    Financial News Fri 15 Feb 2019 15:24

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  • Exchange group ICE wants ‘speed bump’ for futures trades — via @WSJ Link
    Financial News Fri 15 Feb 2019 14:44

    A proposal to blunt the advantages of ultrafast traders in one corner of the futures market is threatening to shake up the high-frequency trading world.

    Exchange giant Intercontinental Exchange, known as ICE, quietly unveiled a plan earlier this month to impose a three-millisecond “speed bump” — or brief delay — on some trades in gold and silver futures.

    The...

  • Lone Pine Capital's Steve Mandel — a poster child of hedge fund investing — quietly stepped down as portfolio manag… Link
    Financial News Fri 15 Feb 2019 14:39

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  • CFO to depart high-speed trader Tower Research Capital Link
    Financial News Fri 15 Feb 2019 14:39

    Tower Research Capital, the high-frequency firm founded by former Credit Suisse proprietary trader Mark Gorton, has parted ways with its global chief financial officer.

    CFO John Papatsos will leave the company following a transition period, a person with direct knowledge of the matter said. No replacement has been confirmed.

    According to his...

  • Jamie Dimon vs bitcoin vs JPMorgan: a timeline of tantrums Link
    Financial News Fri 15 Feb 2019 14:39

    Jamie Dimon, chairman and chief executive of JPMorgan, has had a colourful relationship with bitcoin, which he has criticised time and again as the virtual currency’s worth has risen and fallen.

    The Wall Street boss’s impassioned arguments against bitcoin make all the more surprising the bank’s decision to create a new digital coin: JPM Coin. The move, announced on February 14, suggests the bank has found a new willingness to experiment with the underlying technology that powers bitcoin.

  • RT @_tim_burke: The Standard Chartered director who oversaw the bank’s European property portfolio, including its real estate strategy for…
    Financial News Fri 15 Feb 2019 14:39
  • Allianz fund management assets dip back below €2tn Link
    Financial News Fri 15 Feb 2019 14:39

    The fund management arm of German insurer Allianz, which houses the bond giant Pimco, posted a modest rise in profits last year. But investor outflows in choppy markets dragged total assets back below a record booked in 2017.

    According to full-year results published on February 15, operating profits across Allianz’s asset management business rose 3.7% to €2.5bn in 2018.

    Funds...

  • RT @SamuelAgini: This follows a similar proposal at the London Metal Exchange's gold and silver market. Read my story from back in October:…
    Financial News Fri 15 Feb 2019 14:39
  • Lloyds Banking Group has paid £4.4m to lure the co-head of Morgan Stanley’s financial institutions banking group to… Link
    Financial News Fri 15 Feb 2019 13:29

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  • Lloyds names Morgan Stanley banker Chalmers as CFO Link
    Financial News Fri 15 Feb 2019 13:14

    Lloyds Banking Group has paid £4.4m to lure the co-head of Morgan Stanley’s financial institutions banking group to become its next chief financial officer.

    William Chalmers will succeed George Culmer as Lloyds’ CFO in June, according to a statement.

    The UK bank will buy out £4.4m in deferred cash and bonuses Chalmers will lose as a result...

  • RT @_tim_burke: Investment in property in the City of London during January fell by 75% from a year ago as Brexit pushed dealmakers to pres…
    Financial News Fri 15 Feb 2019 10:59
  • A star stock-picker exits the hedge fund stage — via @barronsonline Link
    Financial News Fri 15 Feb 2019 09:43

    The golden age of the star stock-picker has come and gone.

    Big names like Peter Lynch, David Einhorn, and Bruce Berkowitz are today either fuzzy memories or else they’ve gone through enough rocky patches to tarnish their once-stellar track records.

    Yet in a little noticed move, the most successful fundamental stock-picker of them all quietly...

  • Private equity firm TPG is fast tracking women and ethnic minorities to its partnership ranks, having been scolded… Link
    Financial News Fri 15 Feb 2019 09:18

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  • TPG fast tracks women to partnership after diversity rebuke — @beckspritchard reports Link
    Financial News Fri 15 Feb 2019 09:18

    Private equity firm TPG is fast tracking women and ethnic minorities to its partnership ranks, having been scolded by a leading investor last year for a “stunning” lack of diversity in its upper echelons.

    The $103bn firm recently rejigged its partnership recommendation process, introducing a policy of considering women and minorities for promotion a year earlier than normal.

    The...

  • How can we tax footloose multinationals? Link
    Financial News Fri 15 Feb 2019 09:18

    In the last few years, globalisation has come under renewed attack. Some of the criticisms may be misplaced, but one is spot on: globalisation has enabled large multinationals, like Apple, Google and Starbucks, to avoid paying tax.

  • ICYMI: Politician Jo Johnson to ghostwrite Jeremy Coller’s book Link
    Financial News Fri 15 Feb 2019 09:18

    Jo Johnson, the former UK transport minister and brother of Boris Johnson, is to ghostwrite the autobiography of private equity multi-millionaire Jeremy Coller.

    Johnson, who prior to becoming the Conservative MP for Orpington, was a journalist for the Financial Times, has received £85,000 from Coller Holdings, parent company of Coller Capital.

    He...

  • BAML and UBS lead £450m fund raising for property developer Link
    Financial News Fri 15 Feb 2019 09:18

    Investment bankers at Bank of America Merrill Lynch and UBS are helping one of the UK’s big listed property companies raise £450m of fresh equity to fund new projects.

    Segro, a real estate investment trust in the FTSE 100 index with a portfolio valued at £11bn, said it is working on, or has spotted, development projects that will require £429m to complete, including warehouses in the UK and Europe.

    “We...

  • RBS profits rise but bank sounds fresh warning on #Brexit risks Link
    Financial News Fri 15 Feb 2019 09:18

    Royal Bank of Scotland Group said on Friday that its 2018 profits rose sharply and that it will pay a special dividend — but it warned that Brexit uncertainty is putting its medium-term cost targets at risk.

    For the fourth quarter, RBS made a net profit of £286m. The quarterly performance contributed to an annual net profit of £1.62bn. Analysts had forecast an annual net profit of £1.42bn, according to company-compiled consensus.

  • .@PIMCO says threat of European populism is overstated Link
    Financial News Fri 15 Feb 2019 09:18

    Pimco, the $1.7tn US bond manager, thinks the European elections in May are unlikely to result in “meaningful change” in the region’s politics or markets, arguing the threat from anti-EU populists is overblown.

    While an uptick in populist support is expected, and investors might get “jitters” in the run-up to the vote, Pimco is not changing its views on investments in Europe significantly.

  • RT @guerreraf72: The one about a politician with a famous surname ghost-writing a book by a legendary private equity pioneer. Top scoop by…
    Financial News Thu 14 Feb 2019 14:03
  • Politician Jo Johnson to ghostwrite Jeremy Coller’s memoir — @TomTeodorczuk reports Link
    Financial News Thu 14 Feb 2019 13:48

    Jo Johnson, the former UK transport minister and brother of Boris Johnson, is to ghostwrite the autobiography of private equity multi-millionaire Jeremy Coller.

    Johnson, who prior to becoming the Conservative MP for Orpington, was a journalist for the Financial Times, has received £85,000 from Coller Holdings, parent company of Coller Capital.

    He...

  • RT @guerreraf72: Who's afraid of Jeremy Corbyn? Super-timely breakfast briefing next Wednesday @FinancialNews' HQs with @LGIM Hetal Mehta,…
    Financial News Thu 14 Feb 2019 13:43
  • Digital currencies sceptic JPMorgan will roll out one of its own — via @MarketWatch Link
    Financial News Thu 14 Feb 2019 13:43

    JPMorgan is set to debut its own digital currency, according to a CNBC report. Such a development would be a striking move for a company led by one of the most vocal critics of bitcoin and its ilk.

    According to the news channel, JPMorgan, under CEO Jamie Dimon, is preparing to unfurl JPM Coin, a proprietary currency engineered by the bank's technology group.

  • RT @newlands_chris: ICYMI: Former pensions minister to quit Tory party if UK leaves EU without a deal Link via @Financia…
    Financial News Thu 14 Feb 2019 11:22

    The former UK pensions minister has reaffirmed her pledge to quit the Conservative party if Prime Minister Theresa May takes the country out of the European Union without a divorce deal.

    Baroness Ros Altmann, a Tory peer, told Financial News she would leave the party with “immediate effect” if the UK left the EU without a formal arrangement for a future relationship.

    Altmann,...

  • Brexit shatters London property investment in City and West End Link
    Financial News Thu 14 Feb 2019 11:22

    Investment in two of London’s commercial property hotspots slumped during the first weeks of 2019, meeting analyst predictions that uncertainty around the UK’s exit from the European Union would dent deal flow.

    Money poured into the capital’s property market last year, making London the most popular city in the world for dealmaking, in part due to a weakened pound. But with little clarity over the terms on which Brexit will take place in the coming weeks, buyers and sellers have paused transactions.

    ...
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