By Andrei Skvarsky. U.S.-based electronic financial brokerage Interactive Brokers (IBKR) is planning to open an office in Dubai in a bid to expand its global network to the Middle East, Abu Dhabi-based English-language daily The National said, citing an IBKR spokesperson. The National also quoted an independent source as saying, with reference to an email… Continue Reading
Tag Archives: US
Optima compliance advisory firm hires ex-SEC official Michele Foldenauer as a director
By Andrei Skvarsky. Financial regulatory compliance advisory firm Optima Partners has hired Michele Foldenauer, a former senior official at the U.S. Securities and Exchange Commission (SEC), as a director. Foldenauer will focus on hedge funds, private equity funds, investment advisers, broker-dealers and global financial services firms, corporate communication company PRNewswire cited Optima as saying. Immediately… Continue Reading
Permira reports appointments in credit, healthcare units
By Andrei Skvarsky. Investment firm Permira has promoted David Hirschmann and Ariadna Stefanescu to the roles of co-heads of the Permira Credit unit while Jon Serbousek was hired as a senior adviser to Permira’s global healthcare team and Jon Marschmeyer joined the firm’s New York healthcare division as a partner. Hirschmann and Stefanescu will retain… Continue Reading
Fed’s rates policy likely to make 2024 ‘the year of the dollar dive’ – deVere CEO
The U.S. dollar is likely to weaken “consistently” in 2024, the head of global financial consultancy deVere argues, citing large-scale current sell-offs of greenbacks by investors in the expectation of multiple rate cuts by the U.S. Federal Reserve. “Investors increasingly believe that the Federal Reserve’s most aggressive interest rate hiking campaign in a generation is… Continue Reading
Bankman-Fried trial big confidence test for cryptos – deVere chief
By Andrei Skvarsky. The current fraud trial of American cryptocurrency tycoon Sam Bankman-Fried is a “formidable” confidence test for cryptocurrencies as its outcome will show whether those investing in cryptos can expect the same extent of regulatory protection as all other investors, according to a prominent financier. U.S. federal legislation under which the founder and… Continue Reading
EVENTS: Boston to host venture capital, private equity, real estate investment forums on June 5-7
The marcusevans business intelligence company will host the following U.S.-focused invitation-only conferences in Boston, Massachusetts, on June 5-7, 2023: Venture Capital Investors Summit. The agenda covers subjects such as the future of the venture capital market, opportunities in a “new normal”, alternative investments, ESG compliance and ways of finding the best sources of market information,… Continue Reading
UAE steps up involvement in international project to digitise cross-border payments
By Andrei Skvarsky. The central bank of the United Arab Emirates (CBUAE) last week took a major formal step in implementing a plan to create a digital version of the dirham and thereby step up the UAE’s role in an international project to digitise international payments. At a ceremony in Abu Dhabi, the CBUAE signed… Continue Reading
Prop trader The Trading Pit makes deal with futures broker Edge Clear
Liechtenstein-headquartered proprietary trader The Trading Pit has announced it has formed a partnership with Chicago-based futures broker Edge Clear. A proprietary (or prop) trader is a bank or financial services company that earns its income by investing its own capital rather than through commission on investing client money. Continue Reading
Mubadala buying into Truist Insurance Holdings, world’s 7th-largest insurance broker
By Andrei Skvarsky. Mubadala, an Emirati state-owned investment company, has struck a deal with U.S. private equity firm Stone Point Capital and other investors to jointly buy a $1.95bn 20 per cent stake in Truist Insurance Holdings, the world’s seventh-largest insurance broker. Truist Insurance Holdings is valued at $14.75bn by its parent company, investment bank… Continue Reading
EVENTS: Family Office Winter Forum, New York, March 9
The Family Office Winter Forum is a conference in New York on March 9 organised by event management company Opal Group to discuss topics such as family governance, alternative investments and impact investing and hear speakers some of whom are Wall Street’s most sought-after managers and advisers. Only stand-alone speakers will be allowed to use… Continue Reading
EVENTS: Four conferences in San Diego on March 6-8
Event management company marcus evans is going to host four invitation-only U.S.-focused financial conferences next month, all of them to be held at the same venue in San Diego, California, and on the same dates, March 6-8, 2023: Venture Capital Investors Summit. The agenda includes opportunities in a “new normal”, ESG-compliant investment, and ways to… Continue Reading
Candriam to hand over the reins to Vincent Hamelink as current CEO moves to NY Life
By Andrei Skvarsky. The role of CEO of global asset manager Candriam is going to pass to the company’s current investment chief Vincent Hamelink from Naim Abou-Jaoude, who is leaving as chief executive for a senior job at U.S. insurer New York Life, Candriam’s parent firm, in a reshuffle to take effect on May 1.… Continue Reading
Balyasny Asset Management promotes seven execs to partner role
Chicago-headquartered global firm Balyasny Asset Management (BAM) has made seven additions to its group of partners. All seven joined BAM between 2013 and 2021, according to a statement from the asset management firm. They are: Mayank Chamadia, a portfolio manager and co-head of BAM’s New York office. Chamadia’s pre-BAM career included jobs with Barclays Capital,… Continue Reading
EVENTS: marcusevans’s Private Equity Investors Summit, Venture Capital Investors Summit, Dec 7-9, 2022
On December 7-9 2022, Palm Beach, Florida, is again going to host the annual Private Equity Investors Summit and Venture Capital Investors Summit, invitation-only conferences organised by business intelligence and event company marcusevans. The two forums are mainly going to be attended by chief investment officers, fund managers and consultants. Entities the attendees will represent… Continue Reading
Deal enables Apex to use Inveniam blockchain for asset valuation
By Andrei Skvarsky. U.S. fintech company Inveniam has clinched a deal with UK-based financial services firm Apex Group to enable the latter to use blockchain technology patented by the American company and its data operating system for asset valuation. “Using data that is verified on blockchain, through our innovative partnership with Inveniam, will … deliver… Continue Reading
Ampersand, private investor buy out Australian biopharma firm
By Andrei Skvarsky. Global health care private equity firm Ampersand Capital Partners and private investor Glenn Haifer have bought out Australian biopharmaceutical company Luina Bio, rebranding it as AcuraBio, according to a joint statement from Ampersand and AcuraBio. Haifer is board chairman of AcuraBio. He is an Australian medical practitioner and entrepreneur. The statement did… Continue Reading
Permira, Ampersand, Abu Dhabi govt co-acquire, merge two biopharma firms
By Andrei Skvarsky. Private equity investment firms Permira and Ampersand, based in London and Boston respectively, and the Abu Dhabi Investment Authority (ADIA) have jointly acquired and merged two global pharmaceutical companies making remedies from human blood plasma. The merger of Kedrion Biophama, which is headquartered in Tuscany, Italy, and Bio Products Laboratory (BPL), which… Continue Reading
Permira Credit hires ex-Carlyle manager Ian Jackson to oversee strategy unit
Global investment firm Permira said Ian Jackson, a former senior manager at financial services corporation Carlyle and Deutsche Bank, has been hired to head Permira Strategic Opportunities (PSO) at Permira Credit, the firm’s credit investment arm. Jackson spent 13 and a half years at The Carlyle Group, which is a multinational company headquartered in Washington,… Continue Reading
EVENTS: Legal Leaders USA 2022, NY, May 23-24
More than 40 speakers are going to address an audience of over 200 at Legal Leaders USA 2022, an in-person conference of company lawyers in New York on May 23-24 with a busy agenda including challenges such as increasingly numerous and complex regulations, business based on environmental, social and governance (ESG) criteria, and new technology.… Continue Reading
Advanced training edtech startup Qureos raises $3m in pre-seed funding
By Andrei Skvarsky. Qureos, a Dubai-based education technology startup organising advanced training for graduates to help them find successful employment, has raised $3m in a pre-seed funding round. The round was led by venture capital firms COTU Ventures and Colle Capital, the former headquartered in Dubai and the latter in New York, according to a… Continue Reading
Asset manager Apollo’s franchisee EPF buys 68 properties from Italian pension fund
By Andrei Skvarsky. European Principal Finance (EPF), a business franchised by New York-headquartered global asset manager Apollo, has bought an 842m-euro ($923m) portfolio of 68 commercial and residential real estate properties from an Italian pension fund. The properties include hotel, retail, logistics and parking assets and are mostly located in Rome and Milan, Apollo said… Continue Reading
EVENT UPDATE: Commodities Trading USA, June 7-8
Energy transition, cutting-edge technologies and financing issues are among a variety of points to be discussed at Commodities Trading USA 2022, a planned conference in Houston, Texas, on June 7-8 organised by Reuters Events. Four themes will be in the focus of this in-person forum: – impacts of energy transition; – digitalisation of trading, including… Continue Reading
ActivTrades: Struggle between two factors to keep gold price stable
London-based brokerage ActivTrades forecasts that the price of gold, which stayed flat on March 15, will remain stable for the foreseeable period as it is the result of a current tug-of-war between two factors that are almost equally powerful – a U.S. inflation control policy and geopolitical risks stirred by the ongoing war in Ukraine.… Continue Reading
EVENTS: Three events to be hosted by Opal in Florida town on March 27-29
Conference organiser Opal Group is going to host three in-person annual financial events in Palm Beach, a town in Florida, on March 27-29. They are: ESG & Impact Investing Forum, a conference to look at opportunities in various asset classes for investment aiming to produce environmental, social and governance impacts alongside yielding substantial returns; Opal… Continue Reading
Reuters Events, Tradecloud: Understanding energy transition crucial to commodities trading
A business strategy geared to energy transition requirements is crucial to successful trading in commodities today, according to a report released by Reuters Events, organisers of Commodities Trading USA 2022, a planned conference in June. “Commodities Trading 2022. Market Insight Report”, written by Reuters Events in partnership with supply chain platform Tradecloud, says the energy… Continue Reading
Technical mistake blamed for Russia’s Ozon Bank being under U.S. sanctions
By Andrei Skvarsky. Russian online retailer Ozon on February 25 blamed a technical mistake for its subsidiary Ozon Bank’s being among Russian entities and individuals sanctioned by the United States for presumed roles in Russia’s current invasion of Ukraine. Ozon said in a statement it would ask the Office of Foreign Assets Control (OFAC) of… Continue Reading
EVENTS: Commodities Trading USA 2022, Houston, June 7-8
Oil majors BP, ExxonMobil, ConocoPhillips, Chevron and Eni and banking giants Goldman Sachs and BNP Paribas will be among participants in Commodities Trading USA 2022, an in-person conference in Houston on June 7-8 organised by Reuters Events. The forum will take an overview of global commodities trade and focus on key present-day features of global… Continue Reading
EVENTS: Investment Education Symposium, New Orleans, Feb 23-25
Investment communities in various countries are resuming post-lockdown in-person events, and the planned Investment Education Symposium 2022 in New Orleans on February 23-25 is one of them. The conference will address aspects of both traditional and alternative investment, fiduciary responsibility and selection of money managers for U.S. pension funds, endowments, foundations and other institutional investors. Investment… Continue Reading
ETF tops list of finance abbreviations Americans seek to know more about – study
By Andrei Skvarsky. Among hundreds of financial abbreviations that the average American cannot but wants to understand, ETF (“exchange-traded fund”) is the target of the largest annual number of online searches, according to British price comparison online company money.co.uk. There are on average 114,160 online searches per year in the United States, a nation of… Continue Reading