Broadridge Financial Solutions has signed an agreement to acquire the Fiduciary Services and Competitive Intelligence unit from Thomson Reuters Lipper. Broadridge will integrate the Lipper capabilities within its mutual fund and retirement business, officials report. The Lipper business unit offers global market intelligence for fund industry flows by country and distribution channel, Broadridge officials say…. Read More >>
BNY Mellon Promotes for CEO of Wealth Management
BNY Mellon, an investment management and investment services provider, has promoted Donald J. Heberle to be the new CEO of BNY Mellon Wealth Management, succeeding current CEO Lawrence Hughes who is retiring on June 30, officials say. Hughes, who is leaving after 24 years with BNY Mellon, will continue with BNY Mellon in an advisory… Read More >>
EBS and BrokerTec Make Strides in Merging Businesses
EBS BrokerTec, interdealer-broker ICAP’s electronic foreign exchange and fixed income business, has announced that it’s made significant strides in combining the businesses of EBS and BrokerTec since they merged divisions six months ago, officials say. EBS BrokerTec has combined its sales, support and on-boarding teams, allowing “the business to leverage its scale and reach more… Read More >>
ISE Board Adds Members from Barclays, Morgan Stanley
The International Securities Exchange Holdings, Inc. (ISE) announced the addition of Eric Levine and Tyler Sorba to the boards of directors of its two exchanges. Levine, a director and head trader of Barclays’ automated volatility trading group, was appointed to represent ISE’s Competitive Market Makers (CMMs), officials say. Levine joined Barclays in 2008 through its… Read More >>
Olivetree Group Taps CRT Capital for Top U.S. Post
Agency broker Olivetree Group has appointed Chris Pilder as the new CEO of its U.S. business, alongside two other new hires for the U.S. business, officials say. Pilder has more than 27 years of experience in the financial services industry and comes to Olivetree from a decade at CRT Capital Group, where he most recently… Read More >>
Pioneer Names Head of Equity Research, U.S.
Pioneer Investments reports that Craig D. Sterling has joined as senior vice president, head of equity research, U.S. In this post, “he is responsible for managing Pioneer Investments’ team of 14 U.S. equity research analysts based in Boston,” the company says, adding that the analyst “team supports a wide range of equity strategies with approximately… Read More >>
The Fed Hits Six Banks with Record Fines
The Federal Reserve has imposed $1.8 billion in fines, “among the largest ever assessed,” against UBS, Barclays Bank, Citigroup, JPMorgan Chase & Co., the Royal Bank of Scotland (RBS) and Bank of America Corp. (BofA) for what Fed officials call “their unsafe and unsound practices in the foreign exchange (FX) markets.” The dollar amounts for… Read More >>
Stifel Nicolaus Europe Picks Thomson Reuters KYC Service
Thomson Reuters, an information company, reports that the venerable Stifel Nicolaus Europe investment management firm has picked the Org ID KYC managed service to streamline Stifel’s know-your-customer (KYC) process. Specifically, Stifel Nicolaus Europe will be using the Thomson Reuters Org ID service to “onboard their European legal entities. The adoption of the Org ID global… Read More >>
CME, KOFIA to Collaborate on Education, Training
CME Group, the derivatives marketplace headquartered in Chicago, and Korea Financial Investment Association (KOFIA), report that they have signed a letter of intent to explore market education and training collaboration. A letter-of- intent signing ceremony was held in Seoul, where Christopher Mead, managing director, marketing, CME Group, and Sang-Hun Chun, managing director, KOFIA, were the signatories,… Read More >>
ITG to Aide Buy-Side to Buy-Side Trades via Bondcube
Bondcube, a fixed income trading platform, has appointed execution broker ITG as a U.S. trading intermediary for Bondcube’s buy-side to buy-side trades, officials say. For the new role, ITG will facilitate the settlement of trades between buy-side participants. In addition, the partnership will increase the probability of a match for clients of ITG and Bondcube… Read More >>
