By Andrei Skvarsky. The Astana International Exchange (AIX) recently listed the first exchange-traded fund (ETF) to be traded on the bourse. Units of ITI EFT, which is a Russia-focused USD Eurobond ETF and is an instrument of Guernsey-based investment manager ITI Funds, are due to start being traded this month, according to a statement from… Continue Reading
Permira Debt Managers funds acting as senior lender to French manufacturer
By Andrei Skvarsky. Funds advised by London-based debt investor Permira Debt Managers (PDM) are currently acting as the sole senior secured lender to Sotralu, a French manufacturer of accessories for sliding doors and windows, to enable the company to refinance its existing debt and finance future acquisitions. Sotralu, whose business geography covers France, Italy and… Continue Reading
Samtrade FX broker hires investor and analyst Derick Tan as senior adviser
By Andrei Skvarsky. Trader, investor and market analyst Derick Tan, founder of two Singaporean companies, has been hired as a senior adviser by Samtrade FX, a foreign exchange broker mainly active in Asia. Samtrade FX appointed Tan as a member of the board of advisers and “brand ambassador”, according to a statement from the Vanuatu-based… Continue Reading
Digital banking forum likely to help Africa-eyeing investors
Changes brought about by digitisation have ushered in a new era of competition in banking, and attending the Digital Banking Summit (DBS) in Accra on August 19-20 may help banks and fintechs to stay competitive in doing business in Africa, a continent that is an increasingly popular destination for investors. You would be told about… Continue Reading
Private Equity Summit in Texas to bring together key US financial firms
Senior executives from some of the United States’ largest financial services companies, insurance firms and banks are going to attend Private Equity Summit 2019, an investment conference in Irving, Texas, on September 9-11 organised by the marcus evans company. The conference will be an invitation-only, closed-door event. There will be a limit on the number… Continue Reading
Limited partners, managers to meet at NY’s Emerging Manager Connect 2019
There will be a range of business opportunities for limited partners (LPs), general partners (GPs) and new managers to sound out during Emerging Manager Connect 2019, a conference in New York on July 23. LPs would be able to meet managers looking for opportunities in emerging private funds and have a chance to learn how… Continue Reading
UPDATE – Wimbledon debenture tickets good investment vehicles – Sun Global CEO
By Andrei Skvarsky. Wimbledon debentures, expensive elite season passes for the world’s main tennis tournament, have become a lucrative form of investment due to their eligibility for resale with returns that may exceed 100 per cent, according to the CEO of London’s Sun Global Investments asset manager. Debentures, which are resaleable for specific days or… Continue Reading
UPDATE – Vienna forum to address collateral management challenges resulting from new rules
Bankers, European Union officials and other financial services figures are going to meet at a conference in Vienna this September to look into challenges in collateral management that new regulations are giving rise to. The International Collateral Management Forum on September 26-27 will have an extensive agenda that includes automation in collateral management and EU… Continue Reading
UK’s Permira Debt Managers values CLO issue at 382.2m euros
By Andrei Skvarsky. London-headquartered debt investor Permira Debt Managers (PDM) has announced the pricing of the third issue of its Providus collateralised loan obligation (CLO), Providus III, valuing it at 382.2m euros ($434.6m). This is higher than the pricing put by PDM on Providus I or Providus II. Closing is expected in August 2019. The… Continue Reading
Guernsey’s ITI Funds buying crypto fraud detection device from global blockchain firm
By Andrei Skvarsky. Guernsey-based investment manager ITI Funds has clinched a deal with a global blockchain developer to obtain a device to scour planned cryptocurrency transactions for potential fraud. The device the Guernsey firm is buying from The Bitfury Group would be based on Crystal, a platform for the real-time scrutiny of crypto deals on… Continue Reading
Russia’s RenCap sets up FICC desk in Kenya, makes senior hire
By Andrei Skvarsky. Russian investment bank Renaissance Capital has set up a fixed income, currencies and commodities (FICC) desk in Kenya and has hired Kenyan investment banker Winnie Cherotich Towett to run it. The desk’s products “will range from sovereign and corporate exchange-traded bonds (both primary and secondary) to eurobonds, Kenya treasury bills and East… Continue Reading
Sberbank buys into firm digitising Islamic alms collection
By Andrei Skvarsky. Sberbank, Russia’s biggest lender, has acquired a 25 per cent stake in PayZakat, a Moscow-based company that has developed and operates a digital system for the collection and distribution of zakat, alms that are obligatory in Islam and are normally collected in cash worldwide. Continue Reading
Cyprus FX broker IMS Markets signs long-term deal with child support charity
By Andrei Skvarsky. IMS Markets, a Cypriot foreign exchange and contract-for-differences (CFD) broker, has made a long-term pledge to donate to a charity that supports children with mental health problems. Continue Reading
EU rules, bitcoin, blockchain to be discussed at European payments forum
Bankers and financial services officials are getting together in Barcelona this week for BizzPay 7.0 – European Corporate and Retail Payments Forum, to be held on June 13-14. Continue Reading
Sberbank-Luxembourg govt deal to help Russian hi-tech firms access EU markets
By Andrei Skvarsky. The Luxembourg government is going to help Russian high-tech firms to get established in European Union markets under an agreement of June 7 with Sberbank, Russia’s biggest lender. Continue Reading
Sberbank crypto trade plans on ice due to Russian govt’s ‘negative’ position
By Andrei Skvarsky. Sberbank has suspended plans to launch transactions in cryptocurrencies because of the Russian government’s “negative” position on digital money, a top manager at Russia’s biggest lender said last week. Continue Reading
UPDATE – Top African bankers to speak at Accra’s Digital Banking Summit
Some two dozen speakers, about half of them top figures in African banks, are going to take the floor at the Digital Banking Summit in Accra on August 19-20. Continue Reading
Guernsey’s ITI Funds says deal enables it to avoid crypto market risks
By Andrei Skvarsky. Guernsey-based investment company ITI Funds has said it has entered into a partnership that arms it with a technology to significantly reduce risks inherent in cryptocurrency transactions. Continue Reading
Sberbank’s Gref rules out ‘disastrous’ option of job in govt
By Andrei Skvarsky. Herman Gref, CEO of Russia’s biggest lender Sberbank, has flatly and forcefully ruled out any chance of his return into government, where he spent many years as a key economic reformer earlier on, and said a governmental job would be “the most disastrous ending to my career”. Continue Reading
RenCap rehires Alexander Vengranovich to oversee telecoms research
By Andrei Skvarsky. Alexander Vengranovich, who was a real estate analyst at Renaissance Capital in 2007-2008, has returned to the Moscow-based investment bank, this time as global head of telecoms research. Continue Reading
UPDATE – Connected Claims Europe Summit to discuss digitisation of claims services
Numerous insurers, among them AIG, Generali and Zurich, are getting together in Amsterdam in September for a pan-European conference to discuss the digitisation of the claims function in insurance. Continue Reading
London’s Sun Global co-manages bond issue for India’s no. 2 housing finance provider
By Andrei Skvarsky. London-based wealth and investment manager Sun Global Investments has co-arranged a $350m issue of three-year US dollar-denominated bonds with a yield of 6.4 per cent per year for Indiabulls Housing Finance (IBHF), India’s second-largest housing finance company. Continue Reading
Russia’s RenCap makes key hire for MENA team
By Andrei Skvarsky. Russian investment bank Renaissance Capital has hired Omar Gaafar, a former senior manager at Egyptian investment company Beltone Financial, as vice-president of the Moscow-based firm’s investment banking service for the Middle East and North Africa. Continue Reading
Californian city to host private wealth management conference
Senior business executives and consultants from all over the United States are going to delve into key investment and wealth preservation issues at the Private Wealth Management Summit, an event in Rancho Mirage, California, on June 3-5 organised by the marcus evans company. Continue Reading
Insurance Nexus: Machine learning, AI to have main impact on claims services in next 5 years
A survey by event organiser Insurance Nexus suggests that more than half of claims executives in insurance companies worldwide believe that machine learning and artificial intelligence will have the greatest impact on claims services in the next five years. Continue Reading
Tolar HashNET test-launches UN-backed scalable, fast blockchain
By Andrei Skvarsky. Tolar HashNET, a technology firm based in ex-Yugoslav states, has developed and last month test-launched a blockchain platform that the United Nations has listed among projects supporting the Sustainable Development Goals set to the international community by the organisation. Continue Reading
Sberbank hires ex-MetLife exec to oversee pension subsidiary
By Andrei Skvarsky. Sberbank, Russia’s biggest lender, has hired Alexander Zaretsky, a former 15-year-long CEO of the Russian operation of US insurer MetLife, as head of Sberbank Private Pension Fund, a subsidiary running private pension schemes for individuals and companies. Continue Reading
Sberbank: cybercrime to cost companies globally $2.5tn in 2019
By Andrei Skvarsky. According to Sberbank, Russia’s largest bank, cybercrime inflicted total damages of $1.5 trillion on companies worldwide last year and will rob them of another $2.5 trillion in 2019. Continue Reading
High-powered financiers to discuss real estate investment at California event
Leading investors and top company managers are coming together in San Diego, California, on May 1-3 for a North America-focused conference on real estate investment. Continue Reading