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New Jersey Transit searching for administrator, custodian services
trueNew Jersey Transit Corp. is looking for an administrator, custodian and trustee for its five defined benefit pension funds.
Credit Suisse: Institutions to ramp up hedge fund investments in second half of 2014
trueInstitutions intend to be more active hedge fund investors in the second half of 2014 than they were in the first.
Legal troubles could jeopardize BNP Paribas' U.S. growth plans
trueBNP Paribas Securities Services' plans to expand in the U.S. could be hampered because of last month's guilty plea by its French banking parent to processing $30 billion in transactions with countries that are under U.S. government sanction.
Morgan Stanley AUM up 3.7% in second quarter
trueMorgan Stanley Investment Management reported $396 billion in assets under management as of June 30, up 3.7% from March 31 and up 14.1% from a year earlier.
PIMCO hires Macquarie veteran to lead Australian business
trueAdrian Stewart will join Pacific Investment Management Co. in Sydney as executive vice president and head of PIMCO Australia.
Northern Trust in assets up 1% for quarter, rise 15% for year
trueNorthern Trust Corp reported total assets under management of $924.4 billion for the quarter ending June 30, a 1% increase from the previous quarter but up 15% from a year earlier.
Private equity director joins Black Diamond
trueSamuel Farahnak was named director of private equity at Black Diamond Capital Management.
Global AUM reaches record high of $68.7 trillion — Boston Consulting Group
trueGlobal assets under management grew to a record $68.7 trillion as of Dec. 31, up 13% from a year earlier, said a report from Boston Consulting Group.
BlackRock assets rise 4% for second quarter
trueBlackRock’s assets under management totaled $4.594 trillion as of June 30, up 4% from three months earlier and up 19% from a year ago, said an earnings statement released Wednesday.
PIMCO taps head of its Americas institutional business to lead Asia-Pacific
trueEric J. Mogelof, a managing director with Pacific Investment Management Co., has been appointed head of the firm's Asia Pacific business.
Northern Trust chooses new president of institutional
trueMichael G. O'Grady was named president of corporate and institutional services at Northern Trust Corp. on Tuesday.
GSAM assets under management up 5% in quarter
trueGoldman Sachs reported $1.007 trillion in assets under management for its Goldman Sachs Asset Management and wealth management businesses as of June 30, up 5% from three months earlier and up 19% from a year earlier, according to its second-quarter earnings statement issued Tuesday.
Schlachter to head up new Prudential multiasset unit
trueMichael Schlachter joined Prudential Investment Management as managing director, multiasset-class solutions, to head a new team designed to address portfolio challenges by institutional investors.
Managers see U.S. economic outlook brightening, Northern Trust survey finds
trueMoney managers’ outlook on the U.S. economy improved in the second quarter, said Northern Trust Corp.’s quarterly investment manager survey.
BofA: Managers optimistic on global equities
trueFund managers’ outlook on equity markets improved in July, said Bank of America Merrill Lynch’s monthly fund manager survey.