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BNY Mellon settles Oregon-led class-action suit on foreign-exchange practices
trueOregon, on behalf of Oregon Public Employees Retirement Fund and Oregon Common School Fund, is settling a class-action lawsuit against Bank of New York Mellon Corp. for $180 million.
Blackstone senior managing director, GSO co-founder to resign, take on adviser role
trueDoug Ostrover will step down as a senior managing director of alternative investment firm Blackstone Group and will become a senior adviser.
Northern Trust, Bank of Taiwan to team up on global custody offering in Taiwan
trueNorthern Trust and Taipei-based Bank of Taiwan will collaborate in offering institutional investors in Taiwan asset servicing and global custody services.
New York Life Investment Management appoints new CEO
trueYie-Hsin Hung was named CEO of New York Life Investment Management.
SEC charges Gray Financial Group for defrauding public pension funds
trueThe Securities and Exchange Commission announced fraud charges Thursday against Gray Financial Group for allegedly selling unsuitable investments to the $1.3 billion Atlanta General Employees’ Pension Fund and pension funds for the city’s firefighters and police officers, as well as the MARTA/ATU ...
SEC grants waivers to banks settling criminal cases
trueThe Securities and Exchange Commission has granted waivers to the five banks allowing them to continue to serve as investment advisers and to issue securities after settling criminal charges of manipulating foreign-exchange markets and benchmark interest rates.
Jupiter beefs up emerging markets team with focus on Asian income strategy
trueJason Pidcock to join Jupiter’s emerging markets team.
SEC proposes rules requiring more fund disclosure, including on derivatives
trueThe Securities and Exchange Commission announced Wednesday a series of proposals aimed at modernizing and enhancing data reporting by registered investment companies and investment advisers.
Russell, Ping An end China-based joint venture
trueRussell Investments and China-based financial services conglomerate Ping An Insurance Co. of China agreed to end a joint venture they established in 2011.
6 banks to pay $5.6 billion over manipulating foreign-exchange markets
trueSix banks will pay a combined $5.6 billion to settle charges that they manipulated foreign-exchange markets.
SEC to propose that mutual funds disclose risk of rate rise
trueThe Securities and Exchange Commission is set to propose a requirement that mutual fund companies report how vulnerable their bond portfolios are to interest rate changes, said two people familiar with the matter.
Columbia Threadneedle adds European equities portfolio manager
trueMark Nichols was appointed portfolio manager in Columbia Threadneedle Investments’ European equities team.
Pioneer Investments recruits head of U.S. business development
trueHenry Orvin was named senior vice president, head of business development in the U.S. at Pioneer Investments.
Investcorp appoints chief risk officer for hedge fund business
trueSunil Gaglani was named chief risk officer of Investcorp’s hedge fund business.
BofA: Managers reducing higher-risk allocations in favor of cash
trueMoney managers are increasing their cash holdings and reducing allocations to higher risk assets, particularly in the U.S., said Bank of America Merrill Lynch's monthly fund manager survey.