Asset manager roundup: Natixis and La Banque Postale agree merger

first_imgNatixis and La Banque Postale (LBP) have agreed to combine their fixed income and insurance-related asset management businesses within a new entity.According to a statement, the merger of the relevant businesses of Ostrum Asset Management and LBP Asset Management is expected to be completed in the fourth quarter of this year, subject to obtaining regulatory approvals.A spokesperson for Natixis confirmed that the new entity will be called Ostrum Asset Management, and said the businesses of the former Ostrum that aren’t being combined with LBP AM will be integrated into other Natixis investment affiliates.La Banque Postale said LBP AM and its subsidiary Tocqueville Finance, were “strengthening their position in predominantly SRI multi-specialist conviction management”. Natixis and La Banque Postale are to own 55% and 45%, respectively, of the new Ostrum Asset Management via their asset manager subsidiaries. The new entity will start with more than €415bn in assets under management, based on end-May figures.“The project was conceived in response to the evolution of the market and will be transformative for the asset management industry”NatixisNatixis said the merger project “was conceived in response to the evolution of the market and will be transformative for the asset management industry”.Ostrum Asset Management would seek to quickly grow its volumes and to play a central role in driving the consolidation of the European market in the coming years, it added.The new Ostrum Asset Management will offer investment management for fixed income and credit assets as well as “technological and operational services”, which a spokesperson for Natixis said could include outsourcing services for other asset managers.Philippe Setbon, chief executive officer of Ostrum, will lead the new company, while Mathieu Cheula, who will join LBP AM’s management board from 1 September, will be deputy CEO.Alongside Setbon and Cheula, the new firm’s executive committee will be comprised of asset management professionals drawn from both Ostrum AM and La Banque Postale Asset Management: Ibrahima Kobar, CIO; Guillaume Abel, head of business development; Valérie Derambure, head of finance, strategy and transformation; Julien Raimbault, head of operations and IT/technology; Emmanuelle Portelle, head of compliance and internal control; Rémi Ardaillou, head of risk; and Sylvie Soulère Guidat, head of human resources.Ostrum Asset Management is the former Natixis Asset Management, having been renamed in April 2018.Citigroup executive to take over from Skeoch at SLAStephen Bird has been chosen to succeed Keith Skeoch as chief executive officer of Standard Life Aberdeen (SLA).Bird, who was most recently CEO of global consumer banking  at Citigroup, will start as CEO-designate on 1 July and take over fully from Skeoch after a handover period and subject to regulatory approvals.SLA said it envisaged the transition would take place by the end of the third quarter.At that point, Skeoch will be standing down from the board after some five years as group CEO and 14 years as a director. He will serve out the remainder of his contract as non-executive chairman of the Aberdeen Standard Investments Research Institute.Skeoch was originally co-CEO of SLA alongside Martin Gilbert, co-founder of Aberdeen Asset Management, following the latter’s merger with Standard Life, where Skeoch had been CEO. SLA then scrapped the co-CEO model.Bird had been at Citigroup for 21 years before retiring in November last year. He was CEO of global consumer banking from 2015, having been the CEO for all of Citigroup’s Asia Pacific business lines before then.Sir Douglas Flint, chair of SLA, said: “The transition from Keith Skeoch was always going to be a challenge to deliver, given the incredible scale and range of his contributions to the success of the company over many years. I am however extremely pleased to say we have found a truly worthy successor.“I am delighted to welcome Stephen to Standard Life Aberdeen and am looking forward to working with him. He is an inspiring leader with a great track record and experience in leading businesses to harness digital technology to improve both productivity and the client and customer experience.” Following the Bird-Skeoch handover, the SLA board will comprise two executive directors, eight non-executive directors and the chairman. The board will be made up of five women and six men.last_img read more

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Brisbane unit market: New apartment sales strongest in 2 years

first_imgUrbis director Paul Riga.The average sale price recorded for the September quarter was $733,000, with three quarters of sales made in projects aimed at the middle to high end of the market. New apartments in Brisbane’s inner east were the most affordable, with an average sale price of $519,000, while Brisbane CBD was the most expensive at $1.1 million. And while sales are growing, supply is easing, with only 403 apartments approved across inner Brisbane during the September quarter — down from 1,674 the previous quarter. More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agoThere were 420 new apartments sold in Brisbane in the September quarter, according to Urbis. Image: AAP/Darren England.Mr Riga said that while the pick-up in sales was welcomed, it had not been easy for developers to attract buyers.“Despite the higher transactions in this quarter, sales are certainly not easy, and for all developments recording strong results in this quarter, it has been on the back of extremely hard work, and for some developers, many years of building trust with buyers,” Mr Riga said. MORE: How to beat Brisbane’s median by $200k New high rise apartments in West End. Picture: Mark Calleja.Urbis director Paul Riga said stable prices, tightening vacancy rates and relatively strong yields had been key attractions for investors.“The increasing number and proportion of investor purchasers across a variety of projects is an indication that longer-term confidence still exists for the inner Brisbane apartment market,” Mr Riga said.More than 80 per cent of those apartment sales were in Brisbane’s inner south, on the back of two major project launches — ‘The Standard’ by Aria in South Brisbane and ‘Silk One’ in Woolloongabba. Both projects had highest number of apartment sales during the quarter. The number of new apartments sold in Brisbane in the past quarter was the strongest in two years, according to Urbis. Image: AAP.THE number of new apartments sold in Brisbane in the past quarter was the strongest in two years, signalling the worst is over for the city’s unit market.In the three months to October, 420 new apartments were sold — the highest number since December 2016, according to a new report by independent consultancy, Urbis.Interstate investors drove the recovery, making up 54 per cent of the sales, while owner occupier purchases dropped to 15 per cent. RELATED: Brisbane housing market “back on the map” Only four new apartment projects are expected to launch in Brisbane in the next six months, according to Urbis. Picture: Richard Walker.Only four projects expected to launch in the next six months, bringing around 950 new apartments to market. “We are not expecting continued quarters of sales at this level due to limited levels of new supply, however overall this quarter has highlighted that there is still demand in the inner Brisbane apartment market and the right drivers are present,” Mr Riga said. He said the Brisbane unit market had been “resilient” in the face of oversupply fears. “We were penned to see … higher vacancies, empty apartments and price falls,” he said.“We haven’t completely been remiss of that; we have seen, in some precincts and some developments, higher than normal vacancies and, in some developments, hits to the price points, but I think if you look at the market from a macro perspective, it’s actually performed quite well.“The amount of supply we’ll see built and completed will continue tapering off until 2020. “That gives the market time to absorb the product being built — and it has been doing that fairly well.”last_img read more

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EPL: Blues, Wolves tango for Euro spots

first_imgChelsea vs. Wolves Venue: Stamford Bridge Kick off: 4PMChelsea and Wolverhampton Wanderers meet at Stamford Bridge this afternoon with their European fate in their own hands. The Blues are in possession of the final Champions League qualifying spot and Wolves are in sixth, which would be enough to seal another season of Europa League football.Has the 2019-20 campaign, Frank Lampard’s first as Chelsea head coach, been a successful one for the Blues?That is a question that cannot be answered for another week or so.Operating under transfer constraints and with star man Eden Hazard no longer at the club, a top-four finish for Chelsea and FA Cup silverware would undoubtedly make this an impressive maiden campaign in the Stamford Bridge dugout for club legend Lampard.Chelsea can tick off the first of those aims on Sunday with victory against Wolves, which would take them to 66 points for the season – six fewer than they managed in Maurizio Sarri’s only campaign at the helm. Only then can focus turn to next weekend’s FA Cup showdown against Arsenal, with the Blues booking their place in the final with a 3-1 victory over Manchester United last week.The Blues could actually lose on Sunday and still finish in the top four, meanwhile, with the two sides either side of them facing off at the King Power Stadium at the same time.Manchester United are above Chelsea on goal difference alone, while Leicester City are a point worse off but have a far superior goal difference.Should Chelsea draw against Wolves then they will be hoping for a Man U victory in the East Midlands to stop Leicester from overtaking them in fourth place.Lampard will be targeting a victory on home soil to ensure that other factors do not come into play, but his side have lost two of their last three league games. That is as many defeats as they had suffered in their previous 11 outings, with Chelsea’s poor defensive setup being exposed by Sheffield United and Liverpool in 3-0 and 5-3 losses.Wolves will be looking to become the latest side to exploit Chelsea’s backline and they head into the game with a bit of momentum on their side after recovering from a recent blip.Back-to-back losses to Arsenal and Sheffield United effectively killed off Wanderers’ top-four aspirations, but they have since seen off Everton and Crystal Palace, either side of drawing against in-form Burnley.Like opponents Chelsea, Wolves will have an eye on other results this weekend in their battle to finish above Tottenham Hotspur – one point worse off in seventh – and secure Europa League football.RelatedPosts Lampard: I still have confidence in Tomori Ighalo: My best moment as ‘Red Devil’ Arsenal, Wolves want Michael Olise That will provide Nuno Espirito Santo’s men with a safety net of sorts as they could yet be competing in the Champions League next season should they go all the way in this term’s Europa League.Wolves are locked at 1-1 with Olympiacos ahead of their rearranged last-16 second leg early next month and will be eager to keep their momentum going into that match. oals in total, including a hat-trick in the Blues’ 5-2 win in the reverse fixture.As for Wolves, Nuno has no injury or suspension issues ahead of this trip to West London.Wanderers cannot afford to look ahead to their Europa League tie with Olympiacos just yet, with Nuno needing to name his strongest possible XI on Sunday.Daniel Podence has impressed since last month’s restart and is expected to start again alongside key man Raul Jimenez, making it a shootout between Adama Traore and Diogo Jota for the other spot in attack.Chelsea possible XI: Kepa, James, Rudiger, Zouma, Azpilicueta, Kovacic, Jorginho, Mount, Willian, Giroud, Pulisic. Wolves possible XI: Patricio, Boly, Coady, Saiss, Doherty, Neves, Moutinho, Jonny, Podence, Jimenez, Jota.Tags: ChelseaEuropa LeagueFrank LampardNuno Espirito SantoUEFA Champions LeagueWolverhampton Wandererslast_img read more

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Plane Crashes on Broward Roadway

first_imgPembroke Pines and Miramar police are investigating an early morning small plane crash that has closed a roadway in Miramar.Officials say the crash took place on Pembroke Road just east of Hiatus Road around 9 a.m., with the plane crashing near a Chase Bank branch.Investigators have not released any information on how many people were in the plane or their conditions. The plane was reportedly taking part in a training exercise for Wayman Aviation Academy out of nearby North Perry Airport.WATCH LIVE: Small plane crashes near bank in Pembroke Pines https://t.co/wlxx3EWmIE— NBC 6 South Florida (@nbc6) May 12, 2020last_img

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Cricket News Ambati Rayudu suspended from bowling in international cricket due to suspect action

first_imgNew Delhi: The International Cricket Council (ICC) has suspended India cricket team all-rounder Ambati Rayudu from bowling in international cricket after he was called for a suspect action during the Sydney ODI against Australia earlier in January. In a statement released by the ICC, Rayudu was suspended from bowling in accordance with clause 4.2 of the ICC regulations. The suspension will remain in place until he is tested, and can demonstrate he is able to bowl with a legal action. According to Article 11.5 of the Regulations and with the consent of the Board of Control for Cricket in India, Rayudu may be allowed to bowl in domestic cricket events played under the auspices of the BCCI. During the Sydney ODI, match officials reported concerns about Rayudu’s action in their reports, the latter has 14 days to undergo testing within 14 days.During the Sydney ODI, The statement further read, “Rayudu’s bowling action will now be scrutinised further under the ICC process relating to suspected illegal bowling actions reported in Tests, ODIs and T20Is. He is required to undergo testing within 14 days, and, during this period, Rayudu is permitted to continue bowling in international cricket until the results of the testing are known.”In the Sydney ODI, Rayudu bowled with a different action. When the Andhra player had started bowling, his action was more upright but here, he bowled with a slight flex. Although he conceded just three runs in his first over, he conceded two boundaries to Usman Khawaja in his second over which allowed Australia to build momentum.Rayudu’s bowling troubles could present Virat Kohli some selection headaches heading into the next seven ODIs against Australia and New Zealand. With Hardik Pandya suspended, he might be tempted to draft Vijay Shankar in the squad purely as a bowling all-rounder. Kedar Jadhav is present in the side and he might get a look-in for Adelaide. However, the Indian skipper has not tried the legspin combination of Kuldeep Yadav and Yuzvendra Chahal outside the subcontinent too much but this latest development might force Kohli to bring about some balance in the lower middle order and the bowling line-up.India lost the Sydney ODI by 34 runs despite some fabulous batting from Rohit Sharma, who blasted his 22nd century and seventh against Australia. Dhoni gave him good support for 51 but the former India skipper’s knock was deemed too slow by social media, resulting in added criticism as the time draws near for the ICC Cricket World Cup in 2019 which will be held in England. For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more

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Graduate students defeat UCLA team in real estate competition

first_img(Left to right) Master of real estate development students Cutter MacLeod, Lindsey Mills, Christopher Kovel, Leah Mogabgab and Walker Wood pose after winning the Silver Shovel trophy for beating UCLA in the NAIOP Real Estate Challenge on Nov. 16. Photo courtesy of Tony KawashimaTwo days before USC’s football team defeated UCLA at the Coliseum, graduate students from two USC schools beat their crosstown counterparts in another field — real estate planning.On Nov. 16, the USC Marshall School of Business and Price School of Public Policy took home the coveted Silver Shovel prize at the NAIOP SoCal USC vs. UCLA Real Estate Challenge. For the past 20 years, the challenge has showcased graduate student teams of five from the Ziman Center of Real Estate at UCLA’s Anderson School of Management and the Lusk Center for Real Estate at Marshall and Price schools. The teams go head-to-head to create the best use for a specified land site. This year,  master of real estate development students Cutter MacLeod, Lindsey Mills, Christopher Kovel, Leah Mogabgab and Walker Wood developed the winning proposal for Sky Studios. They proposed transforming the site in question — eight acres of land at the corner of Maple Avenue and Douglas Street in El Segundo, Calif. — into a state-of-the-art content and media campus for companies like Netflix, Hulu and Amazon. “We took a step back and thought about what industries were driving the economy, and it was always the entertainment industry in Los Angeles, [so] we kind of wanted to jump onto that wave,” MacLeod said. “We wanted to put forth a proposal that was exciting and transformative for El Segundo, and one that the actual developer would be inclined to build.”Prior to the competition, each team member was required to go through an audition process conducted by the master in real estate development program director. Since there was a variety of roles required for the competition, each member had a specialized background in areas like architecture, finance or brokerage, which ultimately helped the members strengthen their ideas for the land site.“It’s cool because we all come into the [MRED] program with different backgrounds,” Mills said. “We of course learn from each other in the program, but in the competition, it’s all of those skillsets put together, and you really have to work together.”Immediately after the team was finalized, the next six weeks consisted of pulling all-nighters and working on the project non-stop. According to MacLeod, a week and a half into the competition, the students had the basic points of their idea already nailed down, but after a few meetings with several developers, who suggested other ideas, they started to doubt their plan.“We spent the next two days spinning our wheels and arguing with each other,” MacLeod said. “That sucked because it set us back, but in the end, it was positive because once we decided to go back to our original plan, we had some alternatives mapped out and really thought them through [and realized that] we wouldn’t and shouldn’t be doing anything else. That was tough, but it was necessary.”Despite these early setbacks in the competition, the team members said they succeeded in determining the best use for the El Segundo site.“It was amazing, and we were kind of in shock for the first 20 minutes,” MacLeod said. “The coolest part was when the developer himself told us that it was one of the best proposals he had ever seen, and he was taking photos of the whole thing. We felt like we put together a really good proposal, something that we were really proud of.”last_img read more

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Courtside: Pressure is on the Dodgers now more than ever with Betts

first_imgThe Lakers, scared out of their minds of both missing the playoffs and being demoted to Runt of L.A., traded for Anthony Davis and the pressure was immediately turned up from 10/10 to 800/10. What happened? Both teams are championship contenders, but the Lakers are the No. 1 seed in the West. Not only is their throne atop the standings safe, but the city is still firmly theirs — at least until they inevitably meet up in May. The Dodgers have completed those first two steps: disappoint, change. Now, they can’t afford to fail on the third, by far the most important: win.  I thought their window had closed. I thought they’d choked away (and, to be fair, been cheated out of) the last of their championship opportunities. I thought they’d cemented their status as the second biggest joke of an organization in the Major Leagues. Honestly I thought they might have been Southern California’s second best team. (Side note: I wrote this column before the rumors came out that the trade isn’t a done deal yet, but let’s assume all parties involved figure it out.) Of course, the same is true with baseball. It’s the Dodgers, then the Angels. Recently, that disparity has consistently been reflected in the standings, but this offseason made things a lot more interesting. The Angels got Anthony Rendon. The Dodgers got older. The Angels got Julio Teheran and Dylan Bundy. The Dodgers sat on their ass. No longer a lock to win the division or even to be better than the “crosstown” rival — and having come off an insanely pathetic choke job against the Washington Nationals in the NLDS — the Dodgers were in trouble.  Don’t get me wrong, the Betts trade was a no-brainer for the Dodgers — especially because it only cost them Alex Verdugo and Kenta Maeda as of now and especially because David Price is a nice throw-in, even if he’s not the ace he was once supposed to be. Nathan Ackerman is a sophomore writing about sports and sociopolitics. He is also an associate managing editor of the Daily Trojan. His column, “Courtside,” runs every Friday. Then they traded for Mookie Betts and returned the Los Angeles baseball scene back to normalcy — for now.  The Dodgers, by trading for Betts, undoubtedly made their team better. But they also turned the 2020 season into a ticking time bomb. The pressure is on. And they can’t afford to screw it up again. Ah! That’s it! L.A. is still Dodger town, and it always will be! Hallelujah! A couple days ago, I had already written the Dodgers off.  Take a quick glance across the city and you’ll notice a similar situation that has dominated NBA headlines for the past year. The Lakers, L.A.’s historical powerhouse and supposed A-team, were fresh off an unspeakably disappointing season with LeBron at the helm, and the up-and-coming Clippers were poised to challenge and overthrow them as the city’s best. center_img Let me know if you’ve seen this movie before: The Dodgers are arguably the best regular season team in baseball, fall short in the playoffs, make a big offseason move. “This year is our year! This puts us over the top!” Repeat.  How much longer can they stick to this tired cycle and still claim the unofficial title of “L.A.’s team?” With that other team — the one that’s not really L.A. but calls itself L.A. — already having the best player of all time and now pairing him with one of the best hitters in the game in Rendon along with the improved pitching staff, my guess is not much longer. That kind of collapse is what they absolutely cannot do this year.  But it’s also undeniable that if before there wasn’t any pressure on the Dodgers to win — and win it all — this year, well, it’s title or bust for them now.  In this city, each professional sport has an A-team and a B-team. There’s the Lakers, then there’s the Clippers. There’s the Kings, then there’s the Ducks. There’s the Rams, then — wait, who’s the other team again?  Then, Mookie. Red Sox general manager Chaim Bloom decided to celebrate the barely-over-100-year anniversary of the Babe Ruth trade with a move eerily similar to the one that cursed Boston for the next 85 years, and Dodgers general manager Andrew Friedman realized his team wasn’t good enough to avoid another playoff disaster. But that’s the part that eludes them every time it seems to be their year; every time it should be their year. They win 100+ games in the regular season, get to the World Series and lose or fail to make it in the first place because of some combination of Clayton Kershaw and Dave Roberts — not exactly the baseball equivalents of Tom Brady and Bill Belichick in terms of coming through in the clutch.  And if it turns out to be the latter?  That problem in L.A. will only become more glaring. And if Trout, Rendon and Co. have anything to say about it, this city might not belong to the Dodgers for much longer. Not so fast. last_img read more

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32Red – Blanket sponsorship ban will not prevent problem gambling

first_img ‘Pent-up demand’ for live sports drives gambling pick-up in June August 17, 2020 StumbleUpon Share UKGC lifts Matchbook suspension August 12, 2020 In response to the new ‘National Strategy’ on gambling harm reductions rolled out by the UK Gambling Commission, online casino 32Red has stated that “a blanket ban on sponsoring clubs will not stop problem gambling.”The statement follows the recent announcement that 32Red has penned a new sponsorship deal with Derby County Football Club, which sets out to sponsor the club, while also making a major investment into a new men’s mental health programme across the city.General manager of the gambling platform, Neil Banbury, commented: “We welcome the targeted, problem-specific measures in the Gambling Commission’s strategy that will help support the small proportion of customers who are problem gamblers.“We look forward to engaging with the Gambling Commission and others to ensure that we continue to identify and support those who have a problem while allowing those who simply enjoy using our products to continue to do so. We also welcome any efforts to make gambling safer.“But a blanket ban on sponsoring clubs will not stop problem gambling. 32Red have a keen commitment to all the football clubs we work with – underpinned by our group sustainability strategy.“Our new model of sponsorship means we invest in both clubs and communities – including our recently launched project with Derby County’s Community Trust that is helping men access mental health support who otherwise would be suffering in silence.”The new sponsorship deal with the football club will deliver a new mental-health support scheme to support men who are suffering from mild mental health issues, while also offering referral services to those who are suffering with more severe problems. EPIC and Whysup ‘continue to make real change’ with partnership renewal August 19, 2020 Share Related Articles Submitlast_img read more

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BiH Junior Basketball Players Tonight vs France

first_imgAt the European Junior Basketball Championships in Latvia begins today the second round of the competition. Young basketball BiH players thanks to victory over Greece, they are qualified for the second round, and they will play in group E with selections of Russia, France, the Czech Republic, Lithuania and Serbia.The chosen players of the selector Nenad Marković will play tonight the first match against France. Tomorrow, they meet with Serbia, while on Wednesday they play against Lithuania. The scores from the first round will be carried into the second round were they were defeated by the Czech Republic and Russia.The F-group selections are: Turkey, Spain, Croatia, Latvia, Italy and England.Four teams from each group will qualify for the quarterfinals, while others will play for the qualifications from 9th to 16th place.(Source:Fena)last_img read more

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