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 league is also relaxing its financial fair play rules because it expects clubs will struggle to adapt to a prolonged shortfall in TV, ticket and sponsorship revenue.Clubs which start insolvency proceedings this season won’t be hit with a mandatory nine-point deduction. The teams’ “liquidity situation” also won’t be considered when issuing licenses for next season.The Bundesliga hasn’t played a game since March 11. Clubs from the top two divisions have voted to extend the suspension to at least April 30.___The new ownership group of the Kansas City Royals, along with players, staff and the organization’s charitable arm are donating more than 500,000 meals to Harvesters, a local food bank helping those in need during the COVID-19 pandemic. Associated Press The start of the English cricket season has been delayed until May 28 at the earliest. A range of options for cricket to begin in June, July or August are being modeled.___Colombia’s soccer league has asked the country’s government to help clubs affected by the new coronavirus outbreak. The league tournament was stopped on March 13, with initial hopes for a restart in April. The head of the league, Jorge Enrique Vélez, says he doesn’t want taxpayer money but policies to support the affected. The new dates for the Olympics — July 23-Aug. 8, 2021 — now overlaps with the 2021 World Games, which were set to be held in Birmingham, Alabama between July 15-25.The International World Games Association says it will shift the dates of its signature event to an earlier date in 2021 or to a similar time in 2022.The World Games began in 1981 and are held every four years to showcase disciplines that are not on the Olympic program, such as sumo, floorball, billiards, lifesaving, orienteering, dance sport and tug of war. Birmingham won the right to stage the 11th edition, beating out Lima, Peru and Ufa, Russia to become the first U.S. host since Santa Clara, California for the inaugural World Games.Birmingham expects some 3,600 athletes from more than 100 nations to participate. Deputy Commissioner Bill Daly confirmed the extension in an email to The Associated Press on Tuesday. The league had previously sent out a memo recommending self-quarantining until April 4.So far, four NHL players — two each from the Ottawa Senators and Colorado Avalanche — have tested positive for COVID-19.— Reporting by Hockey Writer Stephen Whyno___The postponement of the Tokyo Olympics to the summer of 2021 will have an impact on numerous other events — including an Olympic-style event for sports that are not part of the Summer Games. The move follows the club selling 20-year-old forward Róbert Boženík to Feyenoord in January for a reported fee of about 4.5 million euros ($4.9 million).Zilina is second in the now-suspended Slovak league. The club played in the Champions League in 2010-11 but lost all six games in a group that included Chelsea and Marseille.___The Badminton World Federation has frozen the world rankings while the circuit is suspended.The rankings have been backdated to March 17. That was the day after the last international tournament, the All England Open. They will be the basis for entry and seeding into the next international tournaments, whenever they are. Federer is a 10-time champion at the Swiss Indoors and will turn 39 before this year’s tournament. He was twice a ball boy at the event and made his debut as a player in 1998 when he was 17. He lost in the first round to Andre Agassi.Federer posted footage on his social media accounts on Monday of him practising trick shots in his rehabilitation after surgery on his left knee in February.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The National Hockey League has extended its self-quarantine recommendation for players and staff until April 15. The 36 clubs in Germany’s top two divisions have agreed to accept the recommendation of the league authority to extend the period without games to April 30 at least.The last game played was on March 11.League president Christian Seifert says “the most important thing without question is controlling the outbreak of the virus and especially protecting groups at risk.”Training for the 36 clubs is to remain stopped until April 5.UEFA is to meet with its 55 members on Wednesday with the fate of the remaining Champions League, Europa League and international games to be discussed. The Latest: NHL extends self-quarantine recommendation Doleva said in a statement that it “remains diligent in monitoring the situation and making decisions in the best interest of public health.” He added that the health and safety of players, fans and staff is of the “utmost importance” and will communicate with the four schools with updates as needed.___Global soccer union FIFPro says soccer players in Belarus are worried about the continuing despite the coronavirus pandemic.FIFPro general secretary Jonas Baer-Hoffmann says “it’s not comprehendible” that the Belarus league is still playing after kicking off this month. It’s the only top-tier European league in action.Baer-Hoffmann says “there are players who are reaching out concerned.” ___ABC/ESPN has moved up the premier of the 10-part docuseries “The Last Dance” featuring Michael Jordan and the 1990s Chicago Bulls to April 19. The docuseries will be shown on ESPN on Sunday nights and on Netflix outside of the United States.It was originally scheduled to be released in June but sports fans have clamored on social media for the series to be moved up in the wake of the coronavirus outbreak and with most sporting events canceled or postponed.The news was announced on Good Morning America.The Bulls won six NBA titles during the 1990s and were led by Jordan, Scottie Pippen, Steve Kerr and Dennis Rodman. The world circuit is suspended to the end of April, but the BWF expects more tournaments to be put off in May and June.It says it has yet to decide how the rankings will be unfrozen.The BWF says “it is difficult to outline the exact procedure until we have an exact overview of what the international calendar will look like once play resumes and suspended tournaments have been rescheduled.”With the Tokyo Olympics delayed until 2021, the BWF says it is reviewing the Olympic qualification process. It notes the consequences of freezing the world rankings does not apply to Olympic qualifying. ___ ___Scotland rugby coach Gregor Townsend has agreed to a 25% salary deferral from April 1 to Sept. 1.The coaches of two professional sides, Richard Cockerill at Edinburgh and Dave Rennie at Glasgow, have made the same agreement, though Rennie begins his new job as Australia coach in July.Scottish Rugby also announced CEO Mark Dodson was taking a 30% deferral, and the board 25%.Last week, England coach Eddie Jones accepted a 25% pay cut. Former U.S. Davis Cup captain Patrick McEnroe says in a video posted on social media that he tested positive for the coronavirus.McEnroe, younger brother of eight-time major champion John, said he did a drive-through test in upstate New York after developing what he called “minor symptoms” about 10 days ago.Patrick McEnroe said: “The good news is I feel fine. My symptoms have passed. I feel, really, 100 percent.”As a player, he won one tournament in singles and 16 in doubles, including the 1989 French Open.He succeeded his brother as Davis Cup captain and served in that job for nearly a decade, leading the United States to the title in 2007. Royals chairman John Sherman, who purchased the club late last year from David Glass, said in a statement that his group of players, executives and investors “share a deep connection to the Kansas City community, which is why the entire Royals family is coming together to do our part.”The Royals would have opened their season against the White Sox last week in Chicago. Their home opener would have been Thursday against the Mariners. At this point, nobody is quite sure when the club will take the field.Longtime outfielder Alex Gordon donated to the Royals’ food drive. He says that his family is staying home during the pandemic, but “we feel very blessed, and we want to make sure our neighbors are taken care of.”___Naismith Memorial Basketball Hall of Fame President & CEO John Doleva said the organization is moving forward with its planned London Showcase doubleheader in December that will match Kentucky against Michigan and Marist against UMBC. ___Organizers of the Swiss Indoors tennis tournament in Roger Federer’s hometown of Basel say ticket sales will start on schedule on Thursday.The tournament is due to run from Oct. 26 to Nov. 1. Organizers say tickets will be refunded “should the coronavirus crisis continue and the Swiss tennis highlight not take place.”The ATP Tour is currently suspended until at least June.Federer and his wife donated 1 million Swiss francs ($1.04 million) last week to help families in need in his home country during the pandemic. The IWGA has been especially affected by the coronavirus outbreak that has largely shut down sports around the world. The organization’s president, José Perurena, has tested positive in Spain.___A $75 million rescue package was rolled out by English cricket’s governing body on Tuesday to help teams at all levels withstand the financial impact of the coronavirus pandemic. The England and Wales Cricket Board said 40 million pounds (about $50 million) was being made available at the top-tier level. More than 20 million pounds (about $25 million) will go to the local cricket clubs, via loans and grants. “It will be months before the full financial fallout is made clear,” ECB chief executive Tom Harrison said. “We will continue work with all of our partners to protect the ongoing health of the entire game in the short term and beyond.” ___Reigning NCAA women’s singles tennis champion Estela Perez-Somarriba has decided to delay the start of her professional career and remain at the University of Miami for another year.Perez-Somarriba, a senior, will take advantage of an NCAA decision Monday to give Division I spring-sport athletes an additional year of eligibility after the coronavirus pandemic curtailed their 2020 season.Perez-Somarriba won the singles title last May. She’s 141-23 at Miami and holds the school record for match victories.___ Two-time mixed doubles champion Jamie Murray says he believes Wimbledon will be canceled.The All England Club board will hold an emergency meeting on Wednesday to discuss the fate of the 2020 tournament.The grasscourt season lasts only six weeks and Wimbledon is staged when daylight hours are the longest in Britain. The club has acknowledged the short window available to it and ruled out playing without spectators.The French Open has been postponed from May to September.The brother of two-time Wimbledon singles champion Andy Murray was asked whether he thinks a cancellation is more likely than a postponement. He told BBC Radio 4: “I think so. I think for them it is difficult to move the tournament back for many reasons, because you are running into other tournaments.” Kapas won gold in the 200-meter butterfly at the 2019 world championships in China and a bronze medal in the 800-meter freestyle at the 2016 Rio de Janeiro Olympics.___Global soccer union FIFPro says seven-time Slovakian champion Zilina is opting for bankruptcy after offering players a “take it or leave it” 80% pay cut.FIFPro says it believes Zilina is the first European club to go into liquidation since the coronavirus outbreak.The union says Zilina “refused to negotiate with the (Slovak) player union.” NBA fans are being urged to send in questions ahead of time to Murthy with the hashtag of #NBATogether.The NBA Together initiative was born “to support, engage, educate and inspire youth, families and fans in response to the coronavirus pandemic” and has seen members of the NBA family engaging globally with followers.Murthy’s new book, “Together: The Healing Power of Human Connection in a Sometimes Lonely World,” examines loneliness as a public health concern. It will be released April 28.___China’s government has ordered all major sports events to remain suspended because of the coronavirus outbreak, meaning the country’s basketball league will have to push back its planned restart. The Chinese Basketball Association had hoped to resume play in mid-April but was denied government approval to do so. Instead, China’s General Administration of Sport issued a statement saying any large sporting events that draw crowds “are temporarily not being resumed.” The agency did not give a timeline for when the suspensions may be lifted, but said it will “make timely adjustments according to the epidemic prevention and control situation.” The CBA has been suspended since Jan. 24 because of the spread of COVID-19. The league is reportedly considering a proposal to bring all 20 teams to one or two cities and play the remainder of the regular season in empty arenas.___Bellator has postponed its three cards set for May in the wake of the coronavirus pandemic. ___Hungarian Olympic swimmer Boglarka Kapas says she has tested positive for COVID-19.The 26-year-old Kapas writes in an Instagram post that she had to submit to testing in order to return to training.She says her first test was negative but a second test showed she has the virus. She is staying in quarantine at home for two weeks.Kapas says “I don’t have any symptoms yet and that’s why it’s important for you to know that even if you feel healthy you can spread the virus.” The MMA organization says it will try and reschedule Bellator 242 set for May 9 in San Jose, California, a May 16 card in London and Bellator 243 on May 29 in Temecula, California.Bellator says it will try to reschedule the events as soon as it can.___Soccer players in Germany could be tested for the coronavirus before games if the season resumes.The German Football League says it has set up a medical task force which is working on a “procedure for the strict and independent testing of players and other staff members, including immediately prior to matchdays.” March 31, 2020 Fans entering the stadiums in Belarus over the weekend were given antiseptic hand gel but few wore masks for protection.Belarus President Alexander Lukashenko has been defiant about not limiting people’s movement, saying “it’s better to die standing than to live on your knees.”Baer-Hoffmann says FIFPro does not have a member union in Belarus but “we will be lobbying” to introduce precautions.___The Bundesliga soccer season will remain suspended through April because of the coronavirus pandemic. The younger McEnroe also served as general manager of player development for the U.S. Tennis Association.He and his brother now are both TV analysts for tennis matches, sometimes working alongside each other in the booth.___Dr. Vivek Murthy, the former surgeon general of the United States under President Barack Obama and someone who has advised the NBA throughout the global coronavirus pandemic, will take questions from NBA fans later this week.The league is setting up a live question-and-answer session on its Twitter account with Murthy, beginning Wednesday at 4 p.m. Eastern.