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...A jump in sales at BCG’s AI division also partly offset a slowdown in other parts of the business last year amid a tougher economic backdrop....
...XTX, one of the world’s biggest proprietary trading and market-making groups, had sought to use Aviva Investors’ and L&G Investment Management’s money-market funds to invest some of its own cash....
...“Like consumer and business audiences, authentic credibility has overtaken hard sales when it comes to increasing trust and business growth,” he added....
...Nunes, a former Republican congressman, named four equities market makers in his letter: Citadel Securities, Virtu, Jane Street and G1 Execution Services....
...Simões, who joined the business from Santander, replaced Sir Nigel Wilson, L&G’s chief of more than a decade....
...L&G declined to comment....
...The company’s Ageing Population and Healthcare Innovation ETFs have also fallen out of favour, alongside the L&G Cyber Security Ucits ETF....
...The L&G transaction came on the same day that Rothesay, a UK life insurer, agreed to take on £4bn of the pension liabilities of the Co-operative Group, whose operations span supermarkets to funeral services...
...Last year, 80 per cent of exits were sales to corporate buyers ($271bn). The next most popular exit was sales to other PE firms ($62bn)....
...iPhone sales plunged 24 per cent In the first six weeks of the year, according to a Counterpoint Research report....
...L&G’s retail business was also “bolstered” by rising individual annuity sales....
...Already, several of the major broker-dealers have approved bitcoin ETFs for sale on their platforms — although Vanguard has, notably, declined to offer any of the products....
...Its share price and that of bigger rival L&G have snaked sideways for more than a year. Just trades at a 60 per cent discount to book value. Its life insurance peers are closer to parity....
...However, overall sales of European ETFs remained on a steady course in early 2024....
...Of late, L&G’s bulk annuity sales were roughly £7bn. This year it hit that target by the interim stage. Incoming boss António Simões will start on the front foot....
Potential sale comes after Apollo’s $26bn offer was rebuffed
...Free cash flow, however, reconciles those book accounting accruals of the P&L ledger to capture the real flows of actual dollars coming in and out....
...M&G also featured in the top 10 providers for both net and gross sales in 2023, having enjoyed a 90 per cent rise in the latter year on year....
...“I remain extremely bullish on Jefferies and fully committed to helping us continue to build the best independent, global and full-service investment banking firm.”...
...since Torres’s ruling, most or all of which seemed “akin to institutional sales”....
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...M&G Investments’ annual bond forum in London earlier this year featured an unusual presence on the stage: a large colourful statue of an elephant....
...“We are expecting a similar number of large transactions to close in the second half of the year,” L&G said....
...“As a result, some investment managers have held off registering their new ETF ranges for sale in the UK pending the introduction of the overseas funds regime,” Carson said....
...Maybe it could hike the average take rate, which is the cut it takes from each driver’s fare in addition to the service fee....
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