Six of Canada’s biggest pension funds managing C$1.3 trillion ($965.47 billion) in assets have begun a major expansion into private credit, moving into an area previously dominated by banks.
British asset manager abrdn confirmed plans to axe 500 roles as part of deep cost cuts on Wednesday after suffering worse than expected outflows of client cash in the second half of 2023.
Billionaire investor Jaime Gilinski Bacal has joined the board of Metro Bank as a non-executive director, the British lender said on Wednesday, just months after playing a critical role in its 325 million pound ($414 million) equity recapitalisation.
Swedish banking group Swedbank reported a slightly bigger-than-expected rise in fourth-quarter net profit on Wednesday and said credit quality had remained strong through the year as it hiked its annual dividend to shareholders.
UBS has appointed insider Aleksandar Ivanovic as the new head of its $1.6 trillion asset management business as the Swiss bank pushes ahead with the integration of Credit Suisse.
Nomura Securities was sued in New York by a former quantitative researcher who said she was underpaid relative to men and fired after insisting that her team “should stop discriminating against women.”
Asset manager Invesco on Tuesday, reported a loss in the fourth quarter compared to a profit last year, hurt by lower fees and a non-cash asset impairment charge of $1.2 billion.
