American asset manager Cohen & Steers has initiated a fresh push into the United Kingdom investment market and plans to launch two new funds as part of the effort.
Brooks Macdonald has announced Caroline Connellan will be taking the reins from co-founder and outgoing chief executive Chris Macdonald in April 2017 when she is appointed group chief executive, subject to regulatory approvals.
The market responded harshly to the third quarter announcements made by Travis Perkins and Reckitt Benckiser Wednesday, causing shares in the companies to topple 6.9% to 1384.5 and 2.3% to 7156.5p, respectively.
French asset management firm Amundi has confirmed its interest in buying Pioneer Investment from Italian bank UniCredit but denied the €4bn (£3.6bn, $4.4bn) bid offer reported in the media.
With Credit Suisse ending direct client coverage out of the Channel Islands, the Swiss bank has set up a wealth management firm with local financial service provider Stenham Group, that will act as an external asset manager (EAM) for the bank regionally and elsewhere.
BlackRock has reported net flows of $70bn during its third quarter but this was not enough to prevent a 3% fall in revenue to $2.837bn compared with last year’s third quarter.
At their lowest point during trading Tuesday morning, Burberry shares were down 8.9% at 1376p even though its interim revenues benefited from the post-Brexit drop in the pound.
Pearson shares plummeted by 10.2% to 748p Monday morning after the publisher reported a decline in comparable sales over the last nine months.
Leeds-based wealth manager The Private Office (TPO) has acquired PQR Financial Planning, a firm of financial planners based in London in a move that bucks the trend for large restricted advice firms to swallow smaller, independent players.
Man Group’s acquisition of Aalto Invest Holding and subsequent launch of a private markets business inspired a 13.7% rise in the company’s shares to 123.6p on Friday morning.
Unilever shares slid this morning as it announced third quarter results and news of a fall-out with one of its biggest customers spread.
Jupiter Fund Management has reported net inflows of £789m for the three months to 30 September 2016, bringing total assets under management to £40.4bn.
Shares in Hargreaves Lansdown fell 2% this morning on the back of mixed results for Q3 – revenue was up 15% to £90.6m, but inflows dropped 22% compared to Q1.
Brown Shipley has struck a deal to acquire The Roberts Partnership.
Shares in the South Korean electronics company fell considerably (7.5%) after the company suspended production of its Galaxy Note 7 smartphone due to persistent safety problems.
River & Mercantile reported profits down 28% to £5.9m for the year to 30 June this morning.
Old Mutual Wealth chief executive Paul Feeney blamed “challenging markets” as the firm saw net client cash flows slump to £0.9bn in the third quarter, down from £2.3bn a year earlier.
Rowan Dartington has registered a year-to-date FUM increase of 25%, buoyed by its private client, IFA and international businesses, as well as funds from parent St James’s Place.
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