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...In a research note on Monday, Bank of America analysts said they had “several conversations” with the NYCB management team over the past 48 hours....
...Citi has already said it plans to split wealth management from the rest of its consumer bank....
...Hiroshi Lockheimer, head of Android, will be moved to work on other products and is replaced by Sameer Samat, vice-president of product management for Android and Google Play....
...“It’s always been a margin versus volume debate for them, and this is the latest twist,” said James Anderson, a managing partner at Lingotto Investment Management, which holds Tesla shares....
...perception of Tesla in the marketplace, and he has been selling his own stock like crazy” to fund other ventures like X, said Ross Gerber, a long-standing Tesla shareholder at Gerber Kawasaki, a wealth management...
...Morgan Stanley Investment Management has filed to adopt Vanguard’s exchange traded fund multi-share class structure, becoming the fifth in line to seek approval to do so....
...“The oversight of risk management . . . will be intensified.”...
...*Ignites is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignites.com....
...Sotheby’s can pay its agents more, Azar said, in part because he has torn up the traditional system of neighbourhood offices, giving his agents geographic freedom and cutting layers of management....
...It has increased its presence in China, agreeing this month to buy Citi’s wealth management business in the country as it seeks to become Asia’s biggest wealth manager....
...charge for potential bad loans fell to £187mn from £668mn in the same three-month period last year — compared with expectations of £336mn — thanks to fewer defaults on credit cards, mortgages and commercial property...
...Liontrust’s fortunes illustrate how M&A is not a panacea for the challenges facing the fund management industry....
...Moody’s said NYCB faced numerous “financial, management and risk management” issues....
...However, the rating agency did say that it saw the suspension of debt payments as “a portfolio management exercise by BPY, not a default”, and that parent Brookfield Corporation, with $850bn of assets under...
...Alexander Yokum, an analyst at CFRA, downgraded NYCB’s shares to “hold” on Wednesday, saying: “Our diminished view reflects falling confidence in management’s ability to integrate its recent acquisitions...
...The decline moderated, leaving shares down almost 26 per cent on the day and taking their year-to-date drop to 65 per cent amid worries about the US regional lender’s exposure to the commercial property...
...After taking the keys to the auction house, Drahi then layered on hundreds of millions of dollars more debt by mortgaging off Sotheby’s trophy properties in London and New York....
...Analysts expect the country’s economy to continue to slow in the medium term thanks to the property downturn and demographic decline....
...First, a couple of the problems: 1) Sometimes these covenants only cover transfers of intellectual property....
...It involves turning assets such as stocks and bonds, property, mutual funds or even data into a digital token recorded on a blockchain....
...Arkhouse Management has launched a proxy fight to take control of the board after Macy’s rejected its unsolicited $5.8bn take-private offer....
...Vanessa Errecarte is a lecturer in marketing at the UC Davis Graduate School of Management and owns a branding and digital marketing consultancy, Marketing Simplified...
...Morris doesn’t own a car — unusual, in the Motor City....
...This includes the homebuilders (up 40 per cent or so) and commercial real estate plays such as Boston Properties and Simon Property Group....
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