Former Elliott Investment Management portfolio manager Leo Markel will launch a London-based fund called Finch Bay Capital in the first quarter of 2024 and expects to raise $500 million by the end of that year, said two sources familiar with the matter.
In the latest sign the EU may be taking a more accommodative approach to post-Brexit Britain, the bloc’s Spanish presidency has proposed watering down a law that would effectively force banks to shift business from London to the continent.
Exor has approved a new share buyback program for up to one billion euros ($1.07 billion), with an initial tender for 750 million euros, the holding company of Italy’s Agnelli family said on Wednesday.
DBS Group Chief Executive Piyush Gupta said current widespread pessimism about China’s economy was not “overdone” but he was upbeat about India, where the bank plans to triple its business in the next five years.
Citigroup will strip out a layer of management and cut jobs in a sweeping reorganization that will give CEO Jane Fraser more direct control as she seeks to simplify the Wall Street giant and boost its stock.