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Reuters, Aug 24, 2010
(Reuters) - EU regulators cleared U.S. insurer MetLife Inc (MET.N) to acquire American Life Insurance Co and Delaware American Life Insurance Co on Tuesday, a $15.5 billion deal that will expand MetLife's global presence.
American Life (Alico) and Delaware American Life were both previously part of U.S. insurance giant AIG's (AIG.N) international life insurance operations.
Soham Chatterjee, Reuters, Aug 24, 2010
(Adds Morgan Stanley Smith Barney, Quilter)
(Reuters) - The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, send an email to moves@thomsonreuters.com.
MORGAN STANLEY SMITH BARNEY
The joint venture between Morgan Stanley (MS.N) and Citigroup Inc (C.N), appointed Ben Dembin and Francis Schiavetti as advisers in Boca Raton, Florida. Both Dembin and Schiavetti join from Wells Fargo and Co (WFC.N). [ID:nN24243265]
Jonathan Burgos, Bloomberg, August 23, 2010
Deutsche Bank AG started dark pool trading in Hong Kong today, the German lender’s first such platform in Asia, to meet growing demand in the region.
Steven Pearlstein, The Washington Post, August 20, 2010 Normally, the big investment banks would be salivating over the prospect of a $15 billion stock offering by General Motors, which by rights would generate $450 million in fees. But a funny thing happened on the way to this bonanza. Goldman Sachs -- convinced it was never going to be named lead underwriter because of its legal problems and its close ties to Ford -- decided to have some fun at its rivals' expense. Tossing aside Wall Street's most sacred commandment -- Thou Shall Not Undercut the Fee Structure -- Goldman offered to do the job for 0.75 percent of the stock sale, a quarter of the normal fee. Sure enough, Goldman rivals Morgan Stanley and J.P. Morgan were offered the business. But the U.S. Treasury, which owns most of the stock that will be sold through the offering, insisted that the winners do it at the Goldman price. Given that the deal would almost certainly give them bragging rights as the top underwriters for the year, and given the public outcry that would have ensued if they had balked at giving a discount to the very same taxpayers who had just bailed them out, the Morgan twins decided this was an offer they could not refuse.
Liana B.Baker, Reuters, August 20, 2010
(Reuters) - Bank of America Corp's (BAC.N) U.S. Trust added eight wealth management executives on Friday, part of a spate of new hires in the past few months to replace bankers lost to rivals.
The private banking unit recruited Brian Sharpe from BlackRock Inc (BLK.N) to take the market investment executive post in Washington.
Siddharth Cavale, Reuters, August 17, 2010
The asset management unit said late on Monday it named Philip Sanders as chief investment officer of its two investment subsidiaries, Waddell & Reed Investment Management Co and Ivy Investment Management Co.
Jessica Hodgson, The Wall Street Journal, August 12, 2010LONDON (Dow Jones)--Basil Geoghegan, one of the bankers who played a key role in restructuring the U.K. banking industry during the financial crisis, has left his job at Deutsche Bank AG (DB) to join a telecoms start-up.
Geoghegan has left Deutsche Bank after just over a year, a spokeswoman for the bank confirmed, but declined to provide more specific information.
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Brett Philbin, The Wall Street Journal, August 9, 2010NEW YORK (Dow Jones)--Nomura Securities International Inc., a unit of Nomura Holdings Inc. (NMR, 8604.TO), said it hired Brian Foran from Goldman Sachs Group Inc. (GS) as a senior analyst, continuing its recent U.S. expansion.Foran, the 10th senior analyst to join Nomura's U.S. equity research in recent months, will cover the banking sector and be based in New York.Continue to full article
Jungmin Hong, Bloomberg, August 9, 2010
UBS AG, Switzerland’s largest bank, hired Joonkee Hong as head of fixed income, currencies and commodities for Korea, according to a person familiar with the matter.
Aaron Kirchfeld, Bloomberg, August 3, 2010
Deutsche Bank AG’s Wolfgang Matis, head of the global markets unit in Germany, will be retiring at the end of 2010 after 33 years at the company.
Dirk Schmitz who is joining Frankfurt-based Deutsche Bank from Morgan Stanley, will assume Matis’s main responsibilities, according to an internal memo obtained by Bloomberg News and confirmed by spokesman Frank Hartmann.
Reuters, The New York Times, August 1, 2010 PHILADELPHIA (Reuters) - UBS AG said on Sunday it plans to hire executives from Goldman SachsGroup Inc and Bank of America Corp to build its mortgages and lending business in the U.S. Jonathan Kessler will be hired from Bank of America's Merrill unit and will serve as head of banking and lending solutions. Frank Destra, who previously ran the residential-lending business in Goldman's banking unit, will become head of mortgages in the UBS unit.
