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Casey Quirk: Global public money managers see 13% revenue growth in 2014
truePublicly traded fund management firms globally delivered median revenue growth of 13% in 2014 and a median profit margin level of 33% — the highest in five years, analysis by money manager consultant Casey, Quirk & Associates shows.
UBS Global Asset Management taps head of EMEA
trueOliver Bilal will join UBS Global Asset Management as head of global asset management for Europe, the Middle East and Africa.
O'Hanley chosen as CEO successor at SSgA
trueRonald O'Hanley was named president and CEO of State Street Global Advisors, effective in April, said a news release from the money manager.
Bridgepoint closes fifth European buyout fund at $4.3 billion
trueEuropean private equity manager Bridgepoint announced on Monday its buyout fund Bridgepoint Europe V reached its hard cap of €4 billion ($4.3 billion).
Albourne names successor to CEO
trueJohn Claisse, partner at Albourne Partners, will become CEO on Aug. 11.
SEC charges private equity firm Patriarch, CEO with improper valuation
trueThe SEC on Monday charged Patriarch Partners and CEO Lynn Tilton with improper asset valuation and failure to disclose poor performance of loan assets in three collateralized loan obligation funds the private equity firm manages.
LCP: Global equity fees down in past 5 years, but charges rise in other asset classes
trueMore than half of money managers running global equity allocations have reduced the fees charged to new clients by an average 20% over the past five years, new research shows.
Kleiner Perkins wins in gender discrimination case
trueA jury rejected Ellen Pao's claims of gender discrimination by Kleiner Perkins Caufield & Byers, in a case that riveted Silicon Valley for weeks.
Northern Trust names head of Greater China
trueMichael Wu was named head of the Greater China region at Northern Trust Corp., said John O’Connell, company spokesman.
Aberdeen acquires remaining 49.9% stake in SVG Capital
trueAberdeen Asset Management will purchase the remaining 49.9% stake in its joint venture with SVG Capital for £29 million ($43.3 million.)
Russell adds investment strategist for global multiasset team
truePaul Eitelman joined Russell Investments has an investment strategist.
NISA Investment Advisors hires director to expand DC business
trueMark Fortier was named director of defined contribution-product design and implementation at NISA Investment Advisors.
Omega hedge fund firm receives federal subpoenas
trueBillionaire Leon Cooperman, founder of hedge fund Omega Advisors, told clients that his firm has been subpoenaed by the U.S. Attorney’s Office in New Jersey and the Securities and Exchange Commission, seeking information on trading in certain securities.
eBay revises governance guidelines for board diversity; pension funds withdraw proposal
trueNew York State Common Retirement Fund and Trillium Asset Management withdrew a shareholder proposal at eBay Inc., after the company agreed to revise its governance guidelines to include gender and racial diversity among qualities its seeks in its board directors.
Aberdeen Asset Management wants to bolster presence in U.S., North Asia
trueAberdeen Asset Management will look to build its presence in the U.S. and North Asia.