UBS AG will close its two-year-old Dillon Read Capital Management hedge fund unit, the bank said today according to published reports.
JPMorgan Chase & Co is reviewing security protocols after a video posted online showed someone displaying documents found in trash cans containing customers' personal information, according to CNN.Money.com.
For the second time in as many months, a Mideastern investor has acquired what it called a “substantial” stake in British bank HSBC Holdings PLC, according to published reports.
The first active exchange traded funds might be introduced in the United States within the next three to six months, according to sources close to negotiations between the Securities and Exchange Commission and Bear Stearns Asset Management Inc. of New York.
For property owners, there is bad news and good news. The percentage of vacancies rose to 6.1% in the first quarter, a two year high, but the average monthly rent nationwide rose to $991 — a record, said Sam Chandan, chief economists for Reis Inc. in New York.
Following the lead of investment banks, money managers are turning to India to hire research analysts at a cheaper price.
Allianz SE noted that first quarter profits grew a hefty 80%, but results were enhanced from the sale of shareholdings in Germany. Net income crested at 3.2 billion euros ($4.35 billion) from 1.78 billion euros in the same period a year ago, reported Bloomberg.
Wealthy investors are less likely to be loyal to a brokerage firm than they are to an adviser with whom they have developed a strong relationship, according to a national study of 4,000 affluent Americans released today by Cambridge, Mass.-based market research firm Cogent Research LLC.
Active managers that thrive on volatile markets soon may get their day in the sun. Recent data from Wilshire Associates Inc. in Santa Monica, Calif., show just how long those managers have waited.
Japan's Financial Services Agency said today that it will begin monitoring hedge funds that operate in Japan, according to published reports.
