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07/06/2010

HSBC jette l'éponge dans le private equity

L’Agefi rapporte que la banque HSBC va céder ses fonds de private equity aux équipes actuellement gestionnaires de ces activités. Les discussions concerneraient les unités de Hong Kong, du Royaume-Uni, des Etats-Unis, du Canada et du Moyen Orient. Elles gèrent à elles cinq 8,8 milliards de dollars (7,3 milliards d’euros) d’actifs et se concentrent chacune sur certains financements (immobilier, rachat d’entreprises, à fort potentiel, etc).L’une des raisons de cette vente, rappelle le quotidien, vient de l’application prochaine des règles Volcker aux Etats-Unis, qui visent à interdire aux banques certains investissements jugés trop spéculatifs, et notamment le contrôle de hedge funds et de fonds de private equity.
07/06/2010
Fonds

Skandia lance 20 fonds "single manager"

Skandia va lancer une gamme de 20 fonds dont la gestion sera déléguée à un gérant spécialisé d’une autre société et qui s’adresseront à des conseillers financiers britanniques.Cette nouvelle gamme, appelée «Signature», donnera accès aux meilleurs gérants sélectionnés par les équipes de recherche de Skandia Investment Group dans 10 classes d’actifs (immobilier, obligataire UK, obligataire international, actions britanniques, Europe, Amérique du Nord, Japon, Asie hors Japon, Monde…). Un communiqué de presse précise que les noms des gérants choisis n’ont pas encore été confirmés, mais qu’il s’agira de professionnels de renom dont la plupart ne sont pas accessibles au marché britannique des particuliers car ils se cantonnent à une clientèle institutionnelle. Chaque fonds sera géré par une seule société de gestion.
Fonds
07/06/2010
Fonds

L’ancien gérant de Paragon lève 200 millions de dollars

Selon le Financial Times, Julian Barnett, l’ancien trader vedette du hedge fund londonien Polar Capital, a levé près de 200 millions de dollars pour son nouveau fonds, Ridley Park Capital. L’ex-gérant du fonds Paragon aurait initialement espéré réunir 500 millions de dollars.
Fonds
07/06/2010

BNY Mellon AM va distribuer Insight au Royaume-Uni

BNY Mellon Asset Management va désormais distribuer les fonds et la gestion d’Insight Investment, société acquise à Lloyds Banking Group en novembre 2009, au marché des conseillers professionnels au Royaume-Uni. Dans ce cadre, les équipes de vente discrétionnaire et de service clients d’Insight Investment vont rejoindre BNY Mellon Asset Management à compter du 1er juin. Insight va continuer en revanche à servir directement le marché britannique institutionnel.
07/06/2010

Towry recrute chez Aberdeen

Selon Money Marketing, la société de conseil en gestion de fortune Towry a nommé Robert Dawkins en qualité de chief investment officer. Il devrait prendre ses fonctions le 6 septembre prochain.Robert Dawkins était responsable de la multigestion chez Aberdeen Asset Managers.
07/06/2010

Mario Gabelli's company laging behind rivals

Since the stock market bottomed out at the start of 2003, Gamco’s net income has risen just 5%, to USD56 million in 2009. One problem for Mario Gabelli’s company is sluggish growth in assets under management, the main driver of fee income, says the Wall Street Journal. What’s more, Mr. Gabelli’s compensation package has been a severe drag on earnings. In 2008, Gamco’s assets fell by a third and net income totaled USD25 million. Even so, Mr. Gabelli received USD46 million in cash compensation.
07/06/2010

Alain Demarolle leaves Eton Park

According to Financial News Online, Alain Demarolle has left after three years at the hedge fund Eton Park. He was managing director for European affairs.
07/06/2010

Aviva Investors France kicks off EUR500m mandate

Jean-François Boulier, chairman of the board at Aviva Investors France (AIF), has told Newsmanagers that the asset management firm he leads has recently received a half-billion Euro bond mandate from an actor in the retirement industry. This will allow the management firm to return to the volume of external assets of EUR4.5bn which it had at the beginning of this year, before a wave of redemptions from its money market funds. The RFP team has six members in London and Paris, one of whom works full-time in the French capital. However, it is clear that the Aviva group is only active in the fixed-income asset classes for the sake of security, but that equities funds are important in unit-linked contracts. However, institutional clients, especially retirement planning instututions, which have the some concerns about the synchronisation of liabilities and regulatory constraints, will represent a major target for the sales efforts of AIF - without forgetting retail clients, who may also prove an attractive target area, Boulier says. In the pursuit of these objectives, the sales and marketing team, which had 3 members in 2002, now has 12 members. The asset management team has also recruited a fixed income manager and will soon recruit an equities manager. AIF is also planning to take on a product specialist for fixed income, bringing the management team from 27 to 30 people, out of a total of about 90, including a new recruit in support functions.
07/06/2010

BNP Paribas IP planning to increases assets by EUR20bn in 2010

BNP Paribas Investment Partners is planning to increase its assets under management by EUR20bn in 2010, Christian Dargnat, chief investment officer at BNP Paribas Asset Management, has told Reuters. This objective might be reached largely through development of the firm’s Asian activities.
07/06/2010

Concentration continues in private banking

Following the acquisition of Sal. Oppenheim by Deutsche Bank, and the acquisition of Reuschel by Conrad Hinrich Donner, professionals are now predicting further mergers in the German private banking industry, to serve a wealth management market weighing in at about EUR1.2trn, Handelsblatt reports. Recently, Deutsche Bank launched a RFP for BHF-Bank, which is owned by Sal. Oppenheim. The German market also interests actors such as Julius Bär, Sarasin and Vontobel, and German savings and co-operative banks are also looking for a slice of the pie.
07/06/2010

KBC calls off sale of KBC PE

Last week, the sale of KBC Private Equity to Axa and Sofina had reached an impasse, L’Echo reports. On Friday, the German banking and insurance group purely and simply cancelled the sale of its private equity activities, blaming a lack of adequate offers.
07/06/2010

Rothschild to develop Belgian activities

In Belgium, Rothschild & Cie Gestion is present in two areas: distribution on 12 licensed funds, largely via third-party institutions, and private banking, with Rothschild Patrimoine, L’Echo reports. This latter activity will be primarily developed in the next few years. Jean-Louis Laurens, managing partner and chairman of the board at Rothschild & Cie Gestion, says the “objective is to bring private banking activities from EUR6bn to EUR10bn group-wide in the next four years, which will mean an increase in Brussels from EUR900m to nearly EUR2bn.”
07/06/2010

BNY Mellon AM to distribute Insight in the United Kingdom

BNY Mellon Asset Management and Insight Investment have announced that BNY Mellon Asset Management is to be responsible for the distribution of Insight Investment funds and investment capabilities throughout the UK wholesale market. Insight Investment joined the multi-boutique model of BNY Mellon Asset Management in November 2009, following the completion of the acquisition from Lloyds Banking Group. Insight Investment’s discretionary sales and client service team will transition to BNY Mellon Asset Management as of 1 June 2010 with the sole focus to distribute Insight Investment’s capability into the UK discretionary marketplace. Insight Investment will continue to distribute to and service the UK institutional market directly.
07/06/2010

Towry poaches Aberdeen manager

According to Money Marketing, Wealth adviser Towry Law has appointed Robert Dawkins as chief investment officer. He is expected to take up the position on September 6. Dawkins was head of multi-manager at Aberdeen Asset Managers.
07/06/2010

Jupiter recruits two former RWC managers

Citywire reports that Jupiter has recruited two former RWC managers, Miles Geldard and Lee Manzi, who will manage global convertibles and global multi-management strategies. With these recruitments, Jupiter, whose IPO is slated for later this month, is extending its equities expertise to make a significant intervention in convertibles and multi-management for the first time. Geldard previously worked as chief investment officer and head of the Global Multi Asset Group and Global Strategy at JPMorgan Asset Management, where he helped to develop convertibles activities. He joined RWC in 2006, where he founded and led the multi-management and convertibles activities. Manzi joined the firm in the same year as a portfolio manager.
07/06/2010

Former Paragon manager raises USD200m

Julian Barnett, the star hedge fund trader who left London hedge fund manager Polar Capital a year ago, has raised close to USD200m for his new venture, Ridley Park Capital, according to the Financial Times. Mr Barnett, who ran the Paragon fund, had initially hoped to raise USD500m.
07/06/2010

Skandia launches 20 single manager funds

Skandia has confirmed that it is to launch a unique range of 20 “single manager” funds, which will enable financial advisers to access institutional fund managers for the first time. The new fund range will be known as “Signature” and will be managed by Skandia Investment Group (SIG). Signature will contain the best managers across 10 asset classes, as identified by SIG’s 40+ investment team. The fund manager line up for the range is still to be confirmed but all of them will be world class fund managers, most of whom are not accessible to investors because they traditionally only undertake institutional, rather than retail, business. Importantly, each fund will contain only one manager, thus the range will compete directly with the broader retail universe, rather than just multi-manager solutions. The Signature range will cover 10 different investment sectors with some sectors containing multiple fund options, others will have one. The sectors and number of funds are: property, fixed interest, international fixed interest, equity, European, North American, Japanese, Far East ex , Global specialist.
07/06/2010

CESR publishes detailed recommendations for ratings agencies

The Committee of European Securities Regulators (CESR) on 3 June published its vademecum on ratings agencies, in the wake of the introduction in late 2009 of new regulations governing these agencies. The document published on Friday largely concerns the registration process, the operation of colleges, information required for certification, and the evaluation of systemic risks at agencies. The CESR is also publishing reactions submitted as part of its consultation in connection with all of these issues as well as the declared official positions of CESR member countries on the issue of ratings agencies, in a question-and-answer format. The CESR has also published recommendations for the creation of a central repository (CeRep), which will include information from ratings agencies including track records.
04/06/2010
Fonds

Harcourt lance un newcits multistratégies

Le suisse Harcourt Investment Consulting annonce la lancement du Vonda UCITS Fund, une version coordonnée d’un hedge fund investi en futures (CTA) et utilisant aussi des stratégies global macro. L’objectif est de générer une performance supérieure de 400 points de base au Libor sur un cycle, avec une volatilité comprise entre 6 et 8 %.Le nouveau produit affiche déjà un encours de 60 millions de dollars et peut compter sur des engagements de souscription supplémentaires de 50 millions de dollars.
Fonds
04/06/2010

Hellman & Friedman entrerait au capital de Fideuram

La décision sur l’introduction en Bourse de Banca Fideuram ne sera pas débattue pendant la réunion du conseil de gestion du 4 juin, mais elle est inscrite à l’agenda du 22 juin, rapporte Bluerating. Par ailleurs, selon les informations de Il Messaggero, Intesa Sanpaolo prépare le terrain pour l’entrée au capital de Hellman & Friedman. 20 % de la société seront transférés à une nouvelle société, qui est en train d'être créée et qui sera contrôlée par la société de capital investissement.
04/06/2010

BNP Paribas affiche des ambitions européennes dans la banque d'affaires

Selon la Tribune, BNP Paribas prévoit de recruter d’ici deux ans une cinquantaine de banquiers supplémentaires, soit 20 % des 250 qu’elle compte déjà en Europe, afin de développer son activité de banque d’affaires. Environ la moitié d’entre eux seront des seniors chargés de proposer l’ensemble des métiers de banque d’affaires comme le conseil en fusions-acquisitions, et le primaire action (augmentation de capital, introduction en Bourse). Ils auront également vocation à apporter des affaires aux autres activités d’entreprises comme l’obligataire, les couvertures de change, la gestion de la trésorerie, les financements exports, note le quotidien. Une part importante des recrutements sera réalisée à Londres.
04/06/2010

Christian de Bausset réapparaît chez HMG Finance

HMG Finance (250 millions d’euros d’encours) a annoncé jeudi la nomination de Christian de Bausset comme responsable du développement. Il se concentrera sur les aspects de commercialisation à destination de la clientèle institutionnelle, dans le cadre d’une distribution non exclusive.Directeur clientèle institutionnelle chez Baring France entre 2001 et 2009, Christian de Bausset a rejoint HMG Finance en janvier 2010.
04/06/2010

Georges Pauget nommé à la présidence de Viel & Cie

VIEL & Cie a annoncé mercredi 3 juin la nomination de Georges Pauget, ancien directeur général du groupe Crédit Agricole SA, en qualité de président du conseil d’administration de la société d’investissement. La direction générale du groupe restera assurée par Patrick Combes, actionnaire majoritaire de la société, précise un communiqué de presse.
04/06/2010

Nomination chez Barclays Bank France

Barclays Bank France a annoncé la nomination de Laurent Terseur en qualité de Head of Corporate Banking Coverage et Deputy Head of Barclays Corporate Banking France. Laurent Terseur reportera à Jacques Sourbier, Head of Barclays Corporate Banking France et doit renforcer la dynamique de Barclays France en tant que spécialiste de la clientèle des moyennes et grandes entreprises, précise le communiqué de l'établissement. Agé de 42 ans, Laurent Terseur avait pris depuis 2007 chez Deutsche Bank AG la direction du département « GTB Relationship Management » en France, puis du « Corporate Banking Coverage ».

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