Natixis 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.
The Maersk Forza subsea construction vessel, usually used for oil and gas activities, has been hired to help with recovery of a helicopter that went missing on Thursday, offshore Norway.According to Accident Investigation Board Norway (AIBN), on October 26, 2017 helicopter flight CVS312 was en-route from Pyramiden to Kapp Heer with eight persons on board.The crew was last in contact with the air traffic services at Longyearbyen at 1506 hours local time. They were then instructed to contact Kapp Heer. The helicopter was soon after reported missing.“The assumption is that the helicopter has crashed during the approach two kilometers north of Kapp Heer. A large-scale search and rescue operation is ongoing. The Accident Investigation Board Norway has initiated an investigation supported by the Russian Interstate Aviation Committee,” AIBN said.AIBN on Tuesday morning said that the recovery vessel Maersk Forza was contracted and the vessel was en route to Hammerfest.“Personell from the AIBN will board the vessel in Hammerfest and plan the recovery of the helicopter on the way to Svalbard,” AIBN said.The Maersk Forza was built in 2008 under the name of REM Forza. It was later sold by REM Offshore to Maersk Supply Services. The 250 tons Hydramarine crane aboard supports the lifting operations for a range of tools, equipment and subsea assets.According to DeepOcean, which manages the vessel, Maersk Forza spread has been main vessel for inspection, maintenance, installation and decommissioning projects in both The North Sea and West Africa.Offshore Energy Today Staff
There’s never a quiet week in the business world of esports. This week there’s been reports that Golden State Warriors co-owner is set to snag a spot in the North American League Championship Series when the franchise system comes into force. Additionally, Unikrn has been busy with grand expansion plans and a new joint venture, South African football club Orlando Pirates have entered esports and ESIC has handed out further bans for match fixing. ESIC and Sportradar hand out bans to two Dota playersLeonid “Sonic” Kuzmenkov and Dmitri “Ax.Mo” Morozov of Dota 2 team have, following investigation, received two year bans from future Uprise Champions Cup (“UCC”) tournaments following an investigation into their recent match against Yellow Submarine.Following the Sportradar report, ESIC has made the decision to ban both players for two years from UCC tournaments. The event technically comes under the WCA banner, but UCC are the local tournament organisers that handled the event.There were clear concerns following the match played in the World Cyber Arena (“WCA”) European Qualifiers for the CIS region last month, and thus the Esports Integrity Coalition (“ESIC”) launched an investigation of the match in question. In addition, Sportradar, a partner of ESIC, undertook an investigation on global betting patterns and fed the report to ESIC. Sportradar are amongst the leaders in preventing betting fraud, using a unique Fraud Detection System that is applied by federations such as the NBA and FIFA. Read the full article hereJoe Lacob secures NA LCS franchise slot, reports suggestJoe Lacob, the majority owner of NBA team Golden State Warriors has been accepted into the North American League of Legends Championship Series as one of ten franchise owners, ESPN reports suggest.The report, based off sources close to the Lacob family and Riot Games suggests that the $13,000,000 (£9.8m) entry fee will be payable over the next few years, with $8,000,000 (£6.03m) payable upfront and $5,000,000 (£3.77m) as an installment. Although the previously stated fee for joining the LCS was $10,000,000 (£7.54m), any entrants new to the LCS must pay an additional $3,000,000 hence bringing the figure to $13m. Furthermore, Jacob Wolf explains that the application was consulted on by Catalyst Sports & Media, a company whose esports executive vice presidents are well-known lawyer Bryce Blum and Avi Bhuiyan. The company has also consulted on Hersh Interactive’s recent investment in EnVyUs and Madison Square’s purchase of CLG. Read the full article here.Unikrn obtains Malta license and enters joint-venture in FranceDedicated esports bookmaker Unikrn has revealed ambitious European expansion plans, having obtained a Malta license and partnered with French company RBP, one of the leaders in betting in France. The joint-venture created with RBP will be named “Unikrn EU” and will effectively bring the Unikrn platform to Europe in early 2018. In addition to the partnership with RBP, Unikrn has obtained a Malta license allowing it to operate in a swathe of territories. The Unikrn platform is of course not limited to sportsbook as the company have made various investments in recent times. The team has an interest in German Counter-Strike squad BIG, as well as having a casino group and a content team fairly unique to Unikrn.Furthermore, it comes after the company’s ICO was recently revealed as the biggest esports and gaming ICO, having done over $28,000,000 in sales. The number has now surpassed $30,000,000 in Ethereum in over 112 countries and the token will “eventually follow across Europe”, according to the release. Read the full article here.Orlando Pirates join the esports frayOrlando Pirates has entered esports by way of FIFA, but has grand plans for expansion into more traditional esports titles. A statement on the team’s site read as follows: “For the first year, Orlando Pirates will focus its eSports energies on Electronic Arts franchise FIFA and will later look to moving into the more popular eSports segments such as Counter-Strike, League of Legends and/or Dota.”The club’s Brand Activation Manager Tokoloho Moeketsi, commented: “The eSports industry is exploding and there is a huge talent pool in South Africa with untapped potential.“We have noticed that the level of professionalism in eSports has continued to grow over the past years and as Orlando Pirates we feel that now is the right time to enter this industry.”The South African club will sign no less then ten players to begin with, who will all be contracted. This is a fairly strong signal that they are committed to, and believe, in esports and its capacity to be of benefit to Orlando Pirates going forward.Read the full article here.
[email protected] becomes the 18th member of the 3,000 strikeout club! pic.twitter.com/B8oVjKpxwV— MLB (@MLB) September 29, 2019Verlander becomes just the 18th pitcher all-time to strike out 3,000 batters.He is a ways back from Nolan Ryan, who is first all-time with 5,714. It will take a few extra years for the 36-year-old to get there. Justin Verlander further immortalized himself in baseball lore Saturday.The Astros righty struck out his 3,000th batter against the Angels when he rung up Kole Calhoun in the fourth inning. Now, Verlander will try to join the 300-strikeout club as well. His 3,000th K was also his 294th of the [email protected] becomes the 18th member of the 3,000 strikeout club. Only 3 pitchers in history did it in fewer innings. pic.twitter.com/ugzBZ6d8q8— MLB Stats (@MLBStats) September 29, 2019If he is to get to 300 on the year, he and teammate Gerrit Cole would be the first pair of teammates to strike out 300 batters in a season since Randy Johnson and Curt Schilling (Diamondbacks, 2002) to accomplish that feat.They would be just the second pair to do that ever.