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...Englander has built Millennium into a hedge fund that increasingly resembles the markets division of a global bank....
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...It has put the mandate to manage the fund out to tender, with Franklin Templeton’s current tenure due to expire next year....
...When Washington imposed sanctions on the Kremlin-run bank, JPMorgan had to move the funds to a separate escrow account. Under the US sanctions regime, neither VTB nor JPMorgan can access the funds....
...“This will drive the growth of new funds and endeavours,” said Allison Rosner, a managing director with headhunters Major Lindsey & Africa....
...Dimon’s stature on Wall Street has led to calls last year for him to run for president from the likes of hedge fund billionaire Bill Ackman. He has resisted....
...The results highlighted the ability of Morgan Stanley’s wealth management business, which has been a driver of the bank’s growth in recent years, to add new client assets on a large scale....
...The business, which has been central to the bank’s growth in recent years, was already in the sights of the Federal Reserve over money laundering controls....
...At the same time, he sought to present an optimistic vision of UK growth as he set out a series of measures to “turbo-charge” the economy....
...Solomon said Goldman remained “constructive on the health of the US economy” but that persistent inflation, weakness in the commercial real estate market and escalating geopolitical tensions “could slow growth...
...“As a result of strong net new asset growth, the firm has reached $7tn of client assets across wealth and investment management,” said chief executive Ted Pick, who took over from James Gorman at the start...
...With about 40 per cent of its assets in fixed-income funds, Franklin could benefit from the peak-rates wave of money coming back into bonds....
...Investors pulled $33bn from Franklin’s mutual funds in 2023, down from nearly $50bn in 2022, Morningstar Direct data shows....
...The ATP Tour and the Saudi Public Investment Fund on Wednesday announced a “multiyear strategic partnership . . . enhancing global tennis and its long-term future”....
...the Spanish travel technology company fell 5 per cent after it said on Wednesday that a “spike in cancellations” linked to Middle East tensions helped shave about 6 percentage points off of year-on-year growth...
...The biggest movers on European bourses on Tuesday include retailer Casino, engineering company GTT, fund manager Abrdn and laboratory group Eurofins....
...Corporate earnings: Full-year results are due from airlines groups Air France-KLM and IAG, Belgian brewer AB InBev, the London Stock Exchange Group, hedge fund manager Man Group and UK online supermarket...
...Analysts expect the eurozone’s underlying rate of price growth, which strips out more volatile energy and food prices, to drop below 3 per cent for the first time in two years....
...First under Schlosstein and then Weinberg, the firm has aggressively pushed into once-esoteric areas of alternative assets investing: helping private equity firms raise money and trade secondary fund slices...
...Mediterranean Shipping Company, the world’s biggest container line, and Maersk, the market number two, have also expanded their logistics operations in recent years, both through organic growth and acquisition...
...Liberty’s backers include SoftBank and Saudi Arabia’s sovereign wealth fund....
...He served as chair of trustees of the National Gallery between 1985 and 1991 and chair of the Heritage Lottery Fund from 1994 until 1998....
...Blackwells issued a presentation this week estimating that ValueAct, which has been a supportive investor of Disney, has made up to an estimated $95mn in fees from managing pension funds of company employees...
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