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Cyber risk takes on a new dimension as regulators hold employees responsible and hackers deploy the latest AI; political risk heightens for banks imposing sanctions on Russia; and liquidity risk prompts new rules in US bond markets
Secretive family office in late-stage talks with 30 portfolio managers after several years of outperformance
...Higher revenues at its wealth management business and investment bank, as well as one-off gains, drove net profits to $1.8bn in the first three months of the year, triple the sum analysts had forecast....
...Henry Posner, a veteran rail executive who is chair of the Iowa Interstate Railroad, said Norfolk Southern’s management had been wrestling with issues including its market share and recovery from the East...
...BlackRock Riyadh Investment Management will be a wholly owned subsidiary of the $10.5tn US asset manager....
...The management shake-up caps weeks of turmoil for the group after a door panel blew out mid-air during an Alaska Airlines flight in January....
...“Managing directors” who are not directors of any company and don’t manage anything. “Vice-presidents” who carry bags and take minutes. “Executive directors” who are mid-level bureaucrats....
...The move was widely seen as a landmark shift in corporate power from management to the board....
...The wealth management sector, buoyed by the expansion of family offices, has remained surprisingly vibrant, says Zhiwu Chen, professor of finance at Hong Kong University Business School....
...If UK fund management has a Frankenstein’s monster then Abrdn best fits the bill....
...Car companies including General Motors and Ford said on Tuesday that they would work to reroute shipments to nearby ports, while Nissan said it did not expect significant disruption....
...“Crisis management became a constant in the company . . . we used to be a very focused business, very focused management team . . . but we became even more focused, almost laser focused on some of the issues...
...A deal would give Boehly’s Eldridge Industries a foothold in the fast-growing market for lending to private European companies, building on its investments spanning insurance, asset management, technology...
...Now the world’s largest tea company owns zero plantations, and just has to worry about ensuring its suppliers adhere to its new ESG standards....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...This mechanism assigns personal responsibility and establishes conditions for a company’s management to declare the crisis and initiate crisis management protocols....
...The company said revenue increased by 6 per cent to £199.7mn over the three months compared with a year ago....
...); and company databases....
...Three more US regulators have opened investigations into how Morgan Stanley’s wealth management division handles potentially risky clients, according to a person familiar with the matter....
...This structure helps circumvent US regulations when globally significant banks, such as Crédit Agricole, own fund management companies. One can see the attraction for Amundi....
...Goldman Sachs’ Petershill Partners, which owns minority stakes in alternative asset companies, has bought a stake of more than 20 per cent in private credit specialist Kennedy Lewis Investment Management...
...Jupiter could have also placed the money with other external funds run by rival asset management companies....
...Even without a bankruptcy filing, liability management transactions have proved increasingly complex, contentious and expensive....
...NRG Energy chief executive Mauricio Gutierrez has left the company, as the US energy group came to an agreement with activist investor Elliott Management....
...Some UK companies have pointed to higher valuations when choosing to list in New York rather than London....
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