Wall Street banks including JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley have been calling on private equity firm Ares Management to go public soon. Ares, however, does not see the need for a public offering in the near future.
Hutchison Whampoa, a conglomerate controlled by Hong Kong tycoon Li Ka-shing has picked Bank of America Merrill Lynch, Goldman Sachs and HSBC to manage the proposed listing of A.S. Watson in Hong Kong and London.
David Gonski, the head of the sovereign wealth fund of Australia, will be the Chairman of the Australia & New Zealand Banking Group Ltd, Bloomberg reported.
JPMorgan Chase has filed a case against the Federal Deposit Insurance Corporation in a bid to recover more than a billion dollars from the government agency which managed the receivership of Washington Mutual.
The probe of the European Union involving an underwater power cable cartel is a test of the regulators' ability to penalize private equity investors and their parent firms, Bloomberg reported.
The National Audit Office, a government-spending watchdog, said taxpayers lost money in the government's share sale of Lloyds Banking Group and not a profit, Bloomberg reported.
The Financial Times reported two banks divested trade finance assets amounting to $1 billion in a securitization that would get these assets to institutional investors from bank balance sheets.
UK-based lender Barclays denied allegations that it manipulated electricity prices in California. It asked the the court to stop the US Federal Energy Regulatory Commission from collecting fines.
A study from Scorpio Partnership, a consultancy group based in London, showed that mergers and acquisitions among wealth managers have gone up this year, Bloomberg reported.
A person familiar with the matter told Bloomberg that JPMorgan Chase & Co plans to divest its global investment unit based in Hong Kong so it can simplify its operations.
To follow the requirements of the Volcker Rule, Citigroup Inc sold private equity unit Metalmark Capital, Bloomberg reported. The terms of the deal were not disclosed.
Spain's bank restructuring fund FROB on Monday announced that it had received six binding offers for a majority stake in bailed-out bank NCG Banco. Banks and private equity firms from Spain, Venezuela and US reportedly eye the NCG stake.
Massachusetts-based BackOffice Associates has bought Farnborough, UK-based SAP Data Services consultancy firm ENTOTA for an undisclosed amount. Goldman Sachs invested $30 million in BackOffice five years ago.
The impending sale of Woori Investment & Securities Co may spur consolidation in South Korea's local securities industry. Final bids for the brokerage unit are due today.
Some industry observers believed excess liquidity spurred by central banks' economic monetary policies could result to asset bubbles in niche markets by year 2014.
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