Commodities | 24 May 16
Commodities remain hurdle for US high-yield
Carl Whitbeck, head of US high yield at Axa IM, expects the struggling commodities sector and ongoing uncertainty around future Fed action to lead to greater volatility in the high yield space.
People Moves | 24 May 16
PEOPLE MOVES: BSI Bank, BlackRock, Aegon…
On what has been a very trying day for Switzerland-headquartered BSI Bank, the company’s chief executive has stepped down with immediate effect. BlackRock has poached its new senior managing director from a Canadian pension fund, while Aegon’s managing director for retail is to retire after 30 years with the company.
BTG Pactual demands over $100m from Generali over BSI fines
Brazilian investment bank Banco BTG Pactual is looking to recover more than $100m (£65.5m, €84.6m) from Italian insurer Generali in fines levied by the Swiss and Singaporean authorities against BSI bank.
Middle East | 24 May 16
UAE regulator grants broker licence to advisory firm PWS
Dubai-based advisory firm Prestige Wealth Solutions (PWS) has been granted a broker licence by the UAE’s Insurance Authority (IA), the company has revealed.
Old Mutual Asset Management sale moves closer
Old Mutual is reportedly a step closer to selling its US asset management business, with the group’s board understood to support the deal.