Buyers of asset management firms committed $51.2 billion in 241 transactions globally in 2007, according to New York-based Jefferies Putnam Lovell, 16% above the prior year by disclosed deal value, and almost 26% higher than the 191 deals announced in 2006. Even excluding the record 11 initial public offerings by fund management companies in 2007, the trade sale total equaled $43 billion, eclipsing the year-earlier $42 billion.
Among the trends Jefferies Putnam Lovell expects to unfold during the next 12 months are:
Transaction activity, driven by the secular demand for higher-growth alternative investments, will be solid. Nevertheless, a large group of prospective sellers will elect to wait for sunnier markets, and resurrected record profits, before returning to the auction block.
Buyout firms will continue to shop aggressively in the asset management and financial technology aisles by offering equity-heavy deals.
Financial technology firms will continue to attract attention from strategic buyers, as exchanges gird themselves for conflict with alternative trading venues, custodians look for the differentiating edge, and buy-side firms seek further methods of out-trading a subprime-ravaged sell-side.
Alternative asset managers will account for a record proportion of deals in 2008. Long-only players will step up their search for short skills. Alternative firms, looking to dampen the revenue volatility from performance fees, will seek more asset-based fees to improve earnings quality.
Public markets will remain a viable source of liquidity for asset managers. As asset management becomes a more clearly defined, understood and independent sector within financial services, its higher-value attributes will shine through. Multiples paid for quoted fund managers globally will rebound with a broad market.
Cross-border transaction activity will continue to drive a growing portion of deal activity. Asia’s long-term promise remains bright, and US asset managers must fulfill their customers’ voracious demand for international securities.
The report is available at www.jefferies.com/jpl.
About Jefferies Putnam Lovell
Putnam Lovell, the division of Jefferies & Company, Inc. focused on the financial services industry, offers a wide range of corporate advisory services, including mergers and acquisitions advice and capital raising. Putnam Lovell’s global client base is comprised of diversified financial services firms, institutional and mutual fund managers, alternative investment managers, banks, broker-dealers, insurers, and financial technology firms. Putnam Lovell was founded in 1987 and operates from offices in New York, San Francisco, Boston, and London. Since July 2007, Putnam Lovell has been a division of Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF). For more information please visit www.putnamlovell.com.
About Jefferies
Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for 45 years. Headquartered in New York, with more than 25 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com)
Contact:
Tom Tarrant
Jefferies & Company, Inc.
203-708-5989
ttarrant@Jefferies.com
Thursday, February 28, 2008
Frihet Holdings for Busness Valuation
Frihet Holdings provides business owners with one of the most detailed and inexpensive business valuations on the market! Their team of Certified Business Appraisers work around the clock to make sure every aspect of the business valuation is perfect.
Kalamazoo-Portage, MI (1888PressRelease) February 27, 2008
Frihet Holdings is a mergers and acquisitions company that works with business owners and shareholders to define reasonable strategies for continued growth of their business. They staff some of the most knowledgeable Certified Business Appraisers (CBA) in the Mid-west! Each member on their CBA team goes through extensive professional training to ensure the quality of each and every business valuation that is completed. Any business has the ability to succeed, but sometimes it takes a little push to help get things flowing. Frihet Holdings can be that push towards success. The team’s hard work and dedication have aided many companies in their start of growth and success, and they will continue helping any business they can.
If you own a business, it is absolutely necessary to have a business valuation to prove what your business is worth. Business valuations are normally priced at around the 8-10 thousand dollar range. Frihet employs their own team of Certified Business Appraisers, and that allows them to put together a valuation for less than 1/4 of that cost! Frihet only charges $1696 for a 50-300 page valuation! Frihet’s business valuation is one of the top valuations on the market, because it breaks down your business from top to bottom looking at profits, assets, liabilities, etc, and it gives the net worth of your business. Frihet is offering a valuation at one of the best deals you can find today. This document can be your key to receiving funding! It is an unbiased third-party document that is stating exactly what the business is worth, and what the business needs for success.
Business valuations are used for the selling/buying of a business, as preparation for annual reviews with stakeholders/investors, obtaining lender financing, as support documentation for IRS audits, estate planning, succession planning, and partnership disputes. It is nearly impossible to get any funding without a third party documentation explaining why your business is worth what it is. With all that a valuation does for you, it is definitely worth the cost of getting one! For more information on what the business valuation can be used for, visit http://mergers.frihetholdings.com.
Frihet Holdings makes it easy for any company to get a high quality business valuation. The team at Frihet never leaves their clients with nothing. Each client gets their own copy of the business valuation when it is completed. You can have a valuation in just three simple steps. To begin, speak with a business analyst from Frihet Holdings and purchase the valuation. Next, you will provide the information needed to complete the business valuation. Once the valuation is completed, a copy will be sent to you and a copy will be kept at Frihet. The copy that Frihet keeps is the copy that will be reviewed by a large group of investors and business management experts to define the best funding solutions for your company. When this process is all completed, Frihet decided if they will be interested in funding your company, or if anyone will be interested in an outside investment. You get to keep the copy of your valuation and use it for whatever else it may be used for.
Frihet Holdings is the best possible solution for your business valuation troubles! With their high quality and low cost of a valuation, they make it easy for anyone to get. For more information on Frihet Holdings, visit http://mergers.frihetholdings.com.
Kalamazoo-Portage, MI (1888PressRelease) February 27, 2008
Frihet Holdings is a mergers and acquisitions company that works with business owners and shareholders to define reasonable strategies for continued growth of their business. They staff some of the most knowledgeable Certified Business Appraisers (CBA) in the Mid-west! Each member on their CBA team goes through extensive professional training to ensure the quality of each and every business valuation that is completed. Any business has the ability to succeed, but sometimes it takes a little push to help get things flowing. Frihet Holdings can be that push towards success. The team’s hard work and dedication have aided many companies in their start of growth and success, and they will continue helping any business they can.
If you own a business, it is absolutely necessary to have a business valuation to prove what your business is worth. Business valuations are normally priced at around the 8-10 thousand dollar range. Frihet employs their own team of Certified Business Appraisers, and that allows them to put together a valuation for less than 1/4 of that cost! Frihet only charges $1696 for a 50-300 page valuation! Frihet’s business valuation is one of the top valuations on the market, because it breaks down your business from top to bottom looking at profits, assets, liabilities, etc, and it gives the net worth of your business. Frihet is offering a valuation at one of the best deals you can find today. This document can be your key to receiving funding! It is an unbiased third-party document that is stating exactly what the business is worth, and what the business needs for success.
Business valuations are used for the selling/buying of a business, as preparation for annual reviews with stakeholders/investors, obtaining lender financing, as support documentation for IRS audits, estate planning, succession planning, and partnership disputes. It is nearly impossible to get any funding without a third party documentation explaining why your business is worth what it is. With all that a valuation does for you, it is definitely worth the cost of getting one! For more information on what the business valuation can be used for, visit http://mergers.frihetholdings.com.
Frihet Holdings makes it easy for any company to get a high quality business valuation. The team at Frihet never leaves their clients with nothing. Each client gets their own copy of the business valuation when it is completed. You can have a valuation in just three simple steps. To begin, speak with a business analyst from Frihet Holdings and purchase the valuation. Next, you will provide the information needed to complete the business valuation. Once the valuation is completed, a copy will be sent to you and a copy will be kept at Frihet. The copy that Frihet keeps is the copy that will be reviewed by a large group of investors and business management experts to define the best funding solutions for your company. When this process is all completed, Frihet decided if they will be interested in funding your company, or if anyone will be interested in an outside investment. You get to keep the copy of your valuation and use it for whatever else it may be used for.
Frihet Holdings is the best possible solution for your business valuation troubles! With their high quality and low cost of a valuation, they make it easy for anyone to get. For more information on Frihet Holdings, visit http://mergers.frihetholdings.com.
Wednesday, February 27, 2008
Fannie Mae Posts Nearly $3.6B Loss in 4Q 2007
Feb 27, 2008 2007
Fannie Mae Posts Nearly $3.6B Loss in 4Q
By MARCY GORDON
AP Business Writer
WASHINGTON (AP) -- Fannie Mae on Wednesday said it lost nearly $3.6 billion in the fourth quarter of 2007 as home-loan delinquencies mounted and the company preserved cash in anticipation of further losses.
http://hosted.ap.org/dynamic/stories/E/EARNS_FANNIE_MAE?SITE=IACED&SECTION=HOME&TEMPLATE=DEFAULT
Fannie Mae Posts Nearly $3.6B Loss in 4Q
By MARCY GORDON
AP Business Writer
WASHINGTON (AP) -- Fannie Mae on Wednesday said it lost nearly $3.6 billion in the fourth quarter of 2007 as home-loan delinquencies mounted and the company preserved cash in anticipation of further losses.
http://hosted.ap.org/dynamic/stories/E/EARNS_FANNIE_MAE?SITE=IACED&SECTION=HOME&TEMPLATE=DEFAULT
Tuesday, February 26, 2008
Help for Traders and Brokers Analyze and Visualize Full Market Liquidity
February 26, 2008
Aleri and Lab49 Partner to Help Traders and Brokers Analyze and Visualize Full Market Liquidity
Lab49 takes real-time analytics provided by Aleri’s Market Liquidity Analysis engine and designs innovative visual framework to provide firms with a competitive edge
Trade Tech MiFID 2008
CHICAGO, LONDON & NEW YORK--(BUSINESS WIRE)--Aleri Inc., the leading provider of enterprise-class complex event processing (CEP) technology, and Lab49, a consulting firm that specializes in building advanced applications for global financial institutions, today announced a partnership to provide advanced tools for consolidating, analyzing and visualizing market information.
Based on Aleri’s Market Liquidity Analysis (MLA) engine, these tools are designed to address key challenges when competing in today’s fragmented market. Benefits include order book consolidation, quote records and market analytics, as well as compliance and best execution.
“Due to MiFID and RegNMS, we have seen increasing demand for tools that can consolidate market data in a fragmented market and analyze full market depth, and we developed our MLA engine to address these needs,” said Ian Hillier-Brook, EMEA channels sales director at Aleri. “We are excited to partner with Lab49, whose expertise and dedication to the capital markets industry has helped us build a framework that will enable financial services customers to visualize the full potential of Aleri’s full market liquidity analysis powered by CEP technology.”
Aleri's MLA engine is one of the first of its kind to offer consolidated market data analysis. It empowers brokers and traders to optimize results across competing exchanges and, by integrating Aleri’s MLA engine with Lab49's visual framework, they can view the overall results in a rich visual format that provides insight into market dynamics.
In addition, it enables them to consolidate trade reports, quotes and order books across multiple exchanges in real-time, creating a single virtual order book that represents the liquidity of the entire visible market along with the capability to produce a consolidated last price and best bid/offer record for each security.
"At Lab49 we are continuously looking to develop and provide our clients with new tools to help them improve performance and efficiency," said Vivake Gupta, co-founder and managing director at Lab49. "The new MLA engine and visualizations help traders and brokers to enhance their market analysis capabilities by allowing them to view and comprehend a tremendous amount of market data very quickly. Beyond the obvious use by firms to help them trade in compliance with U.S. and European market regulations, the analytics provided by Aleri have also enabled us to create an end product to visualize market data and risk in innovative ways to additionally help these firms gain a competitive edge in trading."
To view a live demonstration of the Aleri’s Market Liquidity Analysis engine and its visual components from Lab49, please visit Aleri Booth 2 at Trade Tech MiFID 2008 at Hotel Russell, Russell Square, London WC1B 5BE on Tuesday, February 26, 2008.
Note to the editors: Photos and the demo are available on request.
About Aleri
Aleri is the leading provider of enterprise-class complex event processing technology for financial institutions and beyond. Aleri’s superior Streaming Platform is backed by the company’s deep background and knowledge gained over 20 years of supporting mission critical banking applications for the world’s largest banks and close to 10 years of pioneering research in the field of event processing.
The Aleri Platform was designed from the ground up to provide the most robust architecture available for the rapid implementation of mission critical applications within the most demanding environments. Built for high throughput with minimal latency, Aleri’s event processing technology allows customers to analyze and respond instantly to high-volume, high-speed data to minimize risk and increase competitive advantage. Aleri is the first to develop and deploy commercial enterprise-class applications built on event processing technology, the Aleri Liquidity Management System, which is used by some of the largest global bank treasuries in the world, and the Aleri Market Liquidity Analysis engine, which consolidates multiple order book feeds from individual exchanges to provide a powerful tool for trading in fragmented markets.
Aleri is a global company headquartered in Chicago with offices in New York, New Jersey, London, and Paris. For more information, visit www.aleri.com.
About Lab49
Lab49, founded in 2002, serves leading global investments banks, hedge funds and mortgage institutions and has completed custom software engagements in equities, fixed income, foreign exchange, portfolio management, and real-time risk information delivery systems. Lab49 is the financial services division of Corpus.
Corpus, Inc. is a global information technology solutions provider. Corpus has numerous Fortune 50 clients in the Media & Entertainment, Telecommunications, and Banking & Financial Services verticals. Visit http://www.lab49.com; and http://blog.lab49.com.
Contacts
Aleri, Inc.
Kelly Shumaker, 720-938-5646
kelly.shumaker@aleri.com
or
Lab49:
Metia Inc
Sheryl Lee
+1 917 320 6462
Sheryl.Lee@metia.com
or
Metia Inc
Tinne Teugels
+1 917 320 6458
Tinne@metia.com
or
Metia Ltd
Simona Cotta-Ramusino
+44 (0)20 3100 3603
Simona.Cotta-Ramusino@metia.com
Aleri and Lab49 Partner to Help Traders and Brokers Analyze and Visualize Full Market Liquidity
Lab49 takes real-time analytics provided by Aleri’s Market Liquidity Analysis engine and designs innovative visual framework to provide firms with a competitive edge
Trade Tech MiFID 2008
CHICAGO, LONDON & NEW YORK--(BUSINESS WIRE)--Aleri Inc., the leading provider of enterprise-class complex event processing (CEP) technology, and Lab49, a consulting firm that specializes in building advanced applications for global financial institutions, today announced a partnership to provide advanced tools for consolidating, analyzing and visualizing market information.
Based on Aleri’s Market Liquidity Analysis (MLA) engine, these tools are designed to address key challenges when competing in today’s fragmented market. Benefits include order book consolidation, quote records and market analytics, as well as compliance and best execution.
“Due to MiFID and RegNMS, we have seen increasing demand for tools that can consolidate market data in a fragmented market and analyze full market depth, and we developed our MLA engine to address these needs,” said Ian Hillier-Brook, EMEA channels sales director at Aleri. “We are excited to partner with Lab49, whose expertise and dedication to the capital markets industry has helped us build a framework that will enable financial services customers to visualize the full potential of Aleri’s full market liquidity analysis powered by CEP technology.”
Aleri's MLA engine is one of the first of its kind to offer consolidated market data analysis. It empowers brokers and traders to optimize results across competing exchanges and, by integrating Aleri’s MLA engine with Lab49's visual framework, they can view the overall results in a rich visual format that provides insight into market dynamics.
In addition, it enables them to consolidate trade reports, quotes and order books across multiple exchanges in real-time, creating a single virtual order book that represents the liquidity of the entire visible market along with the capability to produce a consolidated last price and best bid/offer record for each security.
"At Lab49 we are continuously looking to develop and provide our clients with new tools to help them improve performance and efficiency," said Vivake Gupta, co-founder and managing director at Lab49. "The new MLA engine and visualizations help traders and brokers to enhance their market analysis capabilities by allowing them to view and comprehend a tremendous amount of market data very quickly. Beyond the obvious use by firms to help them trade in compliance with U.S. and European market regulations, the analytics provided by Aleri have also enabled us to create an end product to visualize market data and risk in innovative ways to additionally help these firms gain a competitive edge in trading."
To view a live demonstration of the Aleri’s Market Liquidity Analysis engine and its visual components from Lab49, please visit Aleri Booth 2 at Trade Tech MiFID 2008 at Hotel Russell, Russell Square, London WC1B 5BE on Tuesday, February 26, 2008.
Note to the editors: Photos and the demo are available on request.
About Aleri
Aleri is the leading provider of enterprise-class complex event processing technology for financial institutions and beyond. Aleri’s superior Streaming Platform is backed by the company’s deep background and knowledge gained over 20 years of supporting mission critical banking applications for the world’s largest banks and close to 10 years of pioneering research in the field of event processing.
The Aleri Platform was designed from the ground up to provide the most robust architecture available for the rapid implementation of mission critical applications within the most demanding environments. Built for high throughput with minimal latency, Aleri’s event processing technology allows customers to analyze and respond instantly to high-volume, high-speed data to minimize risk and increase competitive advantage. Aleri is the first to develop and deploy commercial enterprise-class applications built on event processing technology, the Aleri Liquidity Management System, which is used by some of the largest global bank treasuries in the world, and the Aleri Market Liquidity Analysis engine, which consolidates multiple order book feeds from individual exchanges to provide a powerful tool for trading in fragmented markets.
Aleri is a global company headquartered in Chicago with offices in New York, New Jersey, London, and Paris. For more information, visit www.aleri.com.
About Lab49
Lab49, founded in 2002, serves leading global investments banks, hedge funds and mortgage institutions and has completed custom software engagements in equities, fixed income, foreign exchange, portfolio management, and real-time risk information delivery systems. Lab49 is the financial services division of Corpus.
Corpus, Inc. is a global information technology solutions provider. Corpus has numerous Fortune 50 clients in the Media & Entertainment, Telecommunications, and Banking & Financial Services verticals. Visit http://www.lab49.com; and http://blog.lab49.com.
Contacts
Aleri, Inc.
Kelly Shumaker, 720-938-5646
kelly.shumaker@aleri.com
or
Lab49:
Metia Inc
Sheryl Lee
+1 917 320 6462
Sheryl.Lee@metia.com
or
Metia Inc
Tinne Teugels
+1 917 320 6458
Tinne@metia.com
or
Metia Ltd
Simona Cotta-Ramusino
+44 (0)20 3100 3603
Simona.Cotta-Ramusino@metia.com
The Principal Financial Group Announces Executive Promotions
February 26, 2008
The Principal Financial Group Announces Executive Promotions
DES MOINES, Iowa--(BUSINESS WIRE)--The Principal Financial Group® (NYSE:PFG) announced the following executive promotions, effective March 1, 2008:
Daniel J. Houston is named president – Retirement and Investor Services (RIS) Division with responsibility for U.S. asset accumulation businesses, including Principal Bank. In addition to his current responsibilities for the full service pension business and RIS distribution, Houston adds responsibility for the mutual fund and annuity lines of business.
Norman Sorensen is named executive vice president with responsibility for strategy, development and operation of all international asset accumulation businesses for The Principal.
Gregory J. Burrows is named senior vice president – Retirement and Investor Services with responsibility for the full service pension business.
Houston Background
Dan Houston joined the company in 1984 as a group representative in the Dallas group and pension office. He held various management positions with the company from 1990 to present, including being named vice president in 1997, senior vice president in 2000 and executive vice president in 2006.
Houston is a member of several boards, including HealthExtras (NASDAQ: HLEX), Principal International, Inc., and Principal Trust Company (Asia) Ltd. He is on the Iowa State University Business School Dean’s Advisory Council.
A native of Iowa, Houston received his bachelor’s degree from Iowa State University.
Sorensen Background
Sorensen joined the company in 1998. Previously he was a senior executive at AIG. Prior to joining AIG, he held a number of senior international marketing and general management positions at American Express Company and Citigroup.
He is a member of the Boards of Directors of Principal Asset Management Company and Principal Insurance Company (Hong Kong), BrasilPrev Seguros & Previdência (Brazil), Principal Vida (Chile), Principal-PNB Asset Management Company (India), Principal International, Inc., (U.S.), Principal AFORE and Principal Life (Mexico), CCB-Principal Asset Management Company (China), and CIMB-Principal Asset Management (Malaysia).
Sorensen is a Board member of the International Insurance Society (IIS), New York, and of the Pacific Basin Economic Council (PBEC), Hong Kong. He is also Chairman of the International Committee of the American Council of Life Insurers (ACLI), Washington D.C.; co-chairman of the Board of Governors of the Global Financial Leaders Group (GFLG), New York; and an Honorary Fellow of the Brazilian Insurance & Pensions Academy (ANSP), Sao Paulo, Brazil.
He is a graduate of the United States Air Force Academy (USAFA) and Columbia University’s Executive Program for International Managers.
Burrows Background
Burrows joined the company in 1986 as a senior group and pension representative. In 1991 he was named regional director of group and pension sales. From 1994-1996, he was president and CEO of America’s Health Plan, a former subsidiary. Burrows served as the managing director of Principal International’s Argentina operation from 1996-1999 and Japan operation from 1999-2001. He returned to Des Moines, Iowa, in 2001 as the Retirement and Investor Services chief marketing officer, where his responsibilities included merger and acquisition oversight.
A native of Buenos Aires, Argentina, Burrows received his bachelor's degree from the University of South Florida in 1986.
About the Principal Financial Group
The Principal Financial Group® (The Principal®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $311.1 billion in assets under management2 and serves some 18.6 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1 "The Principal Financial Group" and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2 As of December 31, 2007
Contacts
The Principal
Eva Quinn, 515-247-7468
quinn.eva@principal.com
or
Rhonda Clark-Leyda, 515-247-6634
clark-leyda.rhonda@principal.com
The Principal Financial Group Announces Executive Promotions
DES MOINES, Iowa--(BUSINESS WIRE)--The Principal Financial Group® (NYSE:PFG) announced the following executive promotions, effective March 1, 2008:
Daniel J. Houston is named president – Retirement and Investor Services (RIS) Division with responsibility for U.S. asset accumulation businesses, including Principal Bank. In addition to his current responsibilities for the full service pension business and RIS distribution, Houston adds responsibility for the mutual fund and annuity lines of business.
Norman Sorensen is named executive vice president with responsibility for strategy, development and operation of all international asset accumulation businesses for The Principal.
Gregory J. Burrows is named senior vice president – Retirement and Investor Services with responsibility for the full service pension business.
Houston Background
Dan Houston joined the company in 1984 as a group representative in the Dallas group and pension office. He held various management positions with the company from 1990 to present, including being named vice president in 1997, senior vice president in 2000 and executive vice president in 2006.
Houston is a member of several boards, including HealthExtras (NASDAQ: HLEX), Principal International, Inc., and Principal Trust Company (Asia) Ltd. He is on the Iowa State University Business School Dean’s Advisory Council.
A native of Iowa, Houston received his bachelor’s degree from Iowa State University.
Sorensen Background
Sorensen joined the company in 1998. Previously he was a senior executive at AIG. Prior to joining AIG, he held a number of senior international marketing and general management positions at American Express Company and Citigroup.
He is a member of the Boards of Directors of Principal Asset Management Company and Principal Insurance Company (Hong Kong), BrasilPrev Seguros & Previdência (Brazil), Principal Vida (Chile), Principal-PNB Asset Management Company (India), Principal International, Inc., (U.S.), Principal AFORE and Principal Life (Mexico), CCB-Principal Asset Management Company (China), and CIMB-Principal Asset Management (Malaysia).
Sorensen is a Board member of the International Insurance Society (IIS), New York, and of the Pacific Basin Economic Council (PBEC), Hong Kong. He is also Chairman of the International Committee of the American Council of Life Insurers (ACLI), Washington D.C.; co-chairman of the Board of Governors of the Global Financial Leaders Group (GFLG), New York; and an Honorary Fellow of the Brazilian Insurance & Pensions Academy (ANSP), Sao Paulo, Brazil.
He is a graduate of the United States Air Force Academy (USAFA) and Columbia University’s Executive Program for International Managers.
Burrows Background
Burrows joined the company in 1986 as a senior group and pension representative. In 1991 he was named regional director of group and pension sales. From 1994-1996, he was president and CEO of America’s Health Plan, a former subsidiary. Burrows served as the managing director of Principal International’s Argentina operation from 1996-1999 and Japan operation from 1999-2001. He returned to Des Moines, Iowa, in 2001 as the Retirement and Investor Services chief marketing officer, where his responsibilities included merger and acquisition oversight.
A native of Buenos Aires, Argentina, Burrows received his bachelor's degree from the University of South Florida in 1986.
About the Principal Financial Group
The Principal Financial Group® (The Principal®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $311.1 billion in assets under management2 and serves some 18.6 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1 "The Principal Financial Group" and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2 As of December 31, 2007
Contacts
The Principal
Eva Quinn, 515-247-7468
quinn.eva@principal.com
or
Rhonda Clark-Leyda, 515-247-6634
clark-leyda.rhonda@principal.com
Principal Financial Group Board Announces Leadership Succession
February 26, 2008
Principal Financial Group Board Announces Leadership Succession
Zimpleman Named CEO
DES MOINES, Iowa--(BUSINESS WIRE)--The Principal Financial Group® announced today the Board of Directors, as part of its planned succession process, has elected Larry D. Zimpleman chief executive officer, effective May 1, 2008. He retains the title of president. J. Barry Griswell will continue as chairman. Zimpleman will assume complete responsibility for company strategy and operations.
“Larry is singularly qualified to lead the Principal Financial Group into the future. His long history with the company combined with deep industry expertise and a keen global perspective have uniquely prepared him for this leadership role,” says Griswell. “A key success factor for The Principal has been our careful leadership succession planning. This is a natural next step for Larry. He knows where we’ve been. He understands the challenges and opportunities facing The Principal today. He has a clear vision for tomorrow. Larry is an unmatched leader who will advance The Principal as a global expert in asset accumulation and asset management. Our mission remains strongly intact -- being the champion of financial wellbeing for small and medium businesses, institutions and people around the world.”
“Barry’s bold, insightful and charismatic leadership has strengthened The Principal’s position in the market as a world-class asset manager and a world-class employer,” says Zimpleman. “I’m excited about what lies ahead and the opportunity to lead this great company and its great people. With the proven talent and experience of our leadership team, I’m confident The Principal will continue on its clear trajectory toward becoming a global leader in helping people achieve financial security.”
Zimpleman Background
Zimpleman joined the company in 1971 as a part-time actuarial student and became a full-time actuary in 1973. From 1976 to 1997 he served in various management and leadership positions in the Pension department. He was named vice president in 1997, senior vice president in 1999, executive vice president in 2001, president of Retirement and Investor Services in 2003, and president and chief operating officer in 2006. A native of Williamsburg, Iowa, Zimpleman received his BS in business administration from Drake University in 1973 and his MBA from Drake in 1977.
He became a Fellow of the Society of Actuaries in 1976, and is a past president and member of the Board of Governors of the Society. Zimpleman is past chair of the board of trustees for the Employee Benefit Research Institute (EBRI) and past president and board chair of the American Academy of Actuaries. He was named an Actuarial Foundation Trustee in 1999, is a member of the Actuarial Club of Des Moines and chairs the American Council of Life Insurers’ Harris Trust Committee. He was a delegate at the 2002 and 2006 National Summit on Retirement Savings hosted by President Bush and the Secretary of Labor.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $311.1 billion in assets under management2 and serves some 18.6 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1 "The Principal Financial Group" and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2 As of December 31, 2007
Contacts
The Principal
Eva Quinn, 515-247-7468
quinn.eva@principal.com
or
Rhonda Clark-Leyda, 515-247-6634
clark-leyda.rhonda@principal.com
Principal Financial Group Board Announces Leadership Succession
Zimpleman Named CEO
DES MOINES, Iowa--(BUSINESS WIRE)--The Principal Financial Group® announced today the Board of Directors, as part of its planned succession process, has elected Larry D. Zimpleman chief executive officer, effective May 1, 2008. He retains the title of president. J. Barry Griswell will continue as chairman. Zimpleman will assume complete responsibility for company strategy and operations.
“Larry is singularly qualified to lead the Principal Financial Group into the future. His long history with the company combined with deep industry expertise and a keen global perspective have uniquely prepared him for this leadership role,” says Griswell. “A key success factor for The Principal has been our careful leadership succession planning. This is a natural next step for Larry. He knows where we’ve been. He understands the challenges and opportunities facing The Principal today. He has a clear vision for tomorrow. Larry is an unmatched leader who will advance The Principal as a global expert in asset accumulation and asset management. Our mission remains strongly intact -- being the champion of financial wellbeing for small and medium businesses, institutions and people around the world.”
“Barry’s bold, insightful and charismatic leadership has strengthened The Principal’s position in the market as a world-class asset manager and a world-class employer,” says Zimpleman. “I’m excited about what lies ahead and the opportunity to lead this great company and its great people. With the proven talent and experience of our leadership team, I’m confident The Principal will continue on its clear trajectory toward becoming a global leader in helping people achieve financial security.”
Zimpleman Background
Zimpleman joined the company in 1971 as a part-time actuarial student and became a full-time actuary in 1973. From 1976 to 1997 he served in various management and leadership positions in the Pension department. He was named vice president in 1997, senior vice president in 1999, executive vice president in 2001, president of Retirement and Investor Services in 2003, and president and chief operating officer in 2006. A native of Williamsburg, Iowa, Zimpleman received his BS in business administration from Drake University in 1973 and his MBA from Drake in 1977.
He became a Fellow of the Society of Actuaries in 1976, and is a past president and member of the Board of Governors of the Society. Zimpleman is past chair of the board of trustees for the Employee Benefit Research Institute (EBRI) and past president and board chair of the American Academy of Actuaries. He was named an Actuarial Foundation Trustee in 1999, is a member of the Actuarial Club of Des Moines and chairs the American Council of Life Insurers’ Harris Trust Committee. He was a delegate at the 2002 and 2006 National Summit on Retirement Savings hosted by President Bush and the Secretary of Labor.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $311.1 billion in assets under management2 and serves some 18.6 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1 "The Principal Financial Group" and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2 As of December 31, 2007
Contacts
The Principal
Eva Quinn, 515-247-7468
quinn.eva@principal.com
or
Rhonda Clark-Leyda, 515-247-6634
clark-leyda.rhonda@principal.com
Monday, February 25, 2008
Further Writedowns expected for large-cap brokers in Q1
Goldman sees $1-$12 bln writedown for large-cap brokers in Q1
25 Feb 2008
(Reuters) - Goldman Sachs said it expects additional writedowns of about $1 billion to $12 billion each for several U.S. large-cap brokers in the first quarter, with Citigroup (C.N: Quote, Profile, Research) estimated to record the highest amount of about $12 billion.
Goldman expects these writedowns to be spread across residential mortgage-backed securities, commercial mortgage-backed securities and leveraged loans.
The combination of a slowing global economy and a continued correction in financial asset values will dampen 2008 earnings and returns for the investment banks, it said.
Goldman lowered its first-quarter and 2008 estimates for its large-cap universe which includes Bear Stearns (BSC.N: Quote, Profile, Research), Lehman (LEH.N: Quote, Profile, Research), Morgan Stanley (MS.N: Quote, Profile, Research), JPMorgan Chase (JPM.N: Quote, Profile, Research) and Merrill Lynch (MER.N: Quote, Profile, Research) to reflect continued challenges in the credit markets.
25 Feb 2008
(Reuters) - Goldman Sachs said it expects additional writedowns of about $1 billion to $12 billion each for several U.S. large-cap brokers in the first quarter, with Citigroup (C.N: Quote, Profile, Research) estimated to record the highest amount of about $12 billion.
Goldman expects these writedowns to be spread across residential mortgage-backed securities, commercial mortgage-backed securities and leveraged loans.
The combination of a slowing global economy and a continued correction in financial asset values will dampen 2008 earnings and returns for the investment banks, it said.
Goldman lowered its first-quarter and 2008 estimates for its large-cap universe which includes Bear Stearns (BSC.N: Quote, Profile, Research), Lehman (LEH.N: Quote, Profile, Research), Morgan Stanley (MS.N: Quote, Profile, Research), JPMorgan Chase (JPM.N: Quote, Profile, Research) and Merrill Lynch (MER.N: Quote, Profile, Research) to reflect continued challenges in the credit markets.
Davy Selects Odyssey’s WealthManagerTM
February 25, 2008
Davy Selects Odyssey’s WealthManagerTM as Management Platform for Private Clients
NEW YORK--(BUSINESS WIRE)--Odyssey Financial Technologies, a global provider of Private Wealth and Asset Management solutions and services, is pleased to announce that Irish financial services group Davy has selected Odyssey’s WealthManager as its wealth management platform in a multimillion euro deal.
Davy is the first company in Europe to employ Odyssey’s leading wealth management technology. Odyssey’s WealthManager is widely used by a range of blue chip firms in the US and Canada.
As Ireland's leading institutional, corporate and private client broker, Davy has expanded its range of wealth management services in recent years to provide access to global investment opportunities in property, private equity and alternative asset classes. Davy Private Clients, its wealth management division, has in excess of €10 billion of funds under management and now employs 250 people.
Davy’s relationship managers will manage both the relationships and portfolios of their private clients with WealthManager. Davy will also use the WealthManager platform to manage the investment needs of individuals, charities, families, and foundations by creating tailored investment strategies, leveraging the expertise of the group and its world-class investment specialists. Odyssey’s WealthManager was chosen after an extensive search for an application that would deliver these services through a single Wealth and Relationship Management portal.
Commenting on the deal, Eamonn Doyle, chief operations officer in Davy, said:
“As Ireland’s economy has been transformed over the last decade, Davy Private Clients has experienced dramatic growth in demand for wealth management services. We see further significant growth in the wealth management arena in Ireland in the coming years and that is why we are now making such a substantial investment in our technology.
“Client relationships are at the core of any wealth management offering so we are delighted to be able to team up with Odyssey whose WealthManager will enable Davy to effectively manage complex and diversified portfolios on behalf of our clients.’’
In January 2008, Odyssey Financial Technologies announced the acquisition of Xeye, a leading provider of wealth management technology in the North American market whose products included WealthManager. Commenting on the deal with Davy, Steve D’Souza, General Manager, Northern Europe, Odyssey Financial Technologies said:
“We are extremely pleased to have Davy as our newest client in the region. The WealthManager platform will increase the amount of time relationship managers can spend with their clients, thereby improving the Davy client experience. We look forward to a long partnership with Davy as they grow their business, improve the quality of the client interaction, and support the use of ‘best practices’ by their portfolio managers.”
About Davy
Davy is Ireland’s leading provider of stockbroking, wealth management and financial advisory services. Davy offers a broad range of services to private clients, small businesses, corporations and institutional investors, and organises its activities around four interrelated business areas – Capital Markets, Corporate Finance, Private Clients and Research. Founded in 1926, Davy has continually broken new ground in the industry by pioneering the expansion of financial and capital markets in Ireland, and providing new opportunities for investors and growing companies.
Davy is the wealth manager of choice in Ireland with over €10 billion of clients’ assets under management. Each day it handles almost half of all trading in Irish equities. It acts as primary adviser to the majority of listed and unlisted Irish companies and arranger on most Irish corporate bond issues. And since 2000 Davy has been responsible for 70% of the funds raised on the Irish Stock Exchange. Davy is an independent company owned by management and staff. Employing over 500 people, the head office is in Dublin and there are three regional offices in Belfast, Cork and Galway.
For further information, please visit: http://www.davy.ie
About Odyssey Financial Technologies
Odyssey is an industry leader in the global provision of wealth and asset management solutions and services to the Private Banking, Mass Affluent and Retail Banks as well as Institutional and Fund Managers. More than 180 financial institutions in 30 countries have chosen Odyssey solutions. Odyssey focuses on providing a comprehensive range of components for portfolio management (PMS), advisory process, customer relationship (CRM), compliance, risk, analytics and Enterprise Data Management (EDM). The components are deployed on a single scalable wealth and asset management platform, facilitating the enterprise-wide implementation of solutions and data management.
Founded in Luxembourg in 1995, Odyssey today has offices in the key financial centers, including London, New York, Singapore, Zurich, Frankfurt, Brussels, Geneva, Madrid, Toronto and Tokyo. Odyssey’s operational head office and main development centre is located in Lausanne, Switzerland. Throughout this knowledgeable network Odyssey employs over 600 professionals.
For further information, please visit: http://www.odyssey-group.com.
Contacts
©Odyssey Financial Technologies
In North America, Contact: Lara DeVido
LDeVido@ca.odyssey-group.com
tel: + 1 917 639 4161
fax: +1 212 884 0444
or
In Europe, Contact: Valérie Michiels
info@odyssey-group.com
tel: + 352 42 60 80 1
fax: + 352 42 91 92
Davy Selects Odyssey’s WealthManagerTM as Management Platform for Private Clients
NEW YORK--(BUSINESS WIRE)--Odyssey Financial Technologies, a global provider of Private Wealth and Asset Management solutions and services, is pleased to announce that Irish financial services group Davy has selected Odyssey’s WealthManager as its wealth management platform in a multimillion euro deal.
Davy is the first company in Europe to employ Odyssey’s leading wealth management technology. Odyssey’s WealthManager is widely used by a range of blue chip firms in the US and Canada.
As Ireland's leading institutional, corporate and private client broker, Davy has expanded its range of wealth management services in recent years to provide access to global investment opportunities in property, private equity and alternative asset classes. Davy Private Clients, its wealth management division, has in excess of €10 billion of funds under management and now employs 250 people.
Davy’s relationship managers will manage both the relationships and portfolios of their private clients with WealthManager. Davy will also use the WealthManager platform to manage the investment needs of individuals, charities, families, and foundations by creating tailored investment strategies, leveraging the expertise of the group and its world-class investment specialists. Odyssey’s WealthManager was chosen after an extensive search for an application that would deliver these services through a single Wealth and Relationship Management portal.
Commenting on the deal, Eamonn Doyle, chief operations officer in Davy, said:
“As Ireland’s economy has been transformed over the last decade, Davy Private Clients has experienced dramatic growth in demand for wealth management services. We see further significant growth in the wealth management arena in Ireland in the coming years and that is why we are now making such a substantial investment in our technology.
“Client relationships are at the core of any wealth management offering so we are delighted to be able to team up with Odyssey whose WealthManager will enable Davy to effectively manage complex and diversified portfolios on behalf of our clients.’’
In January 2008, Odyssey Financial Technologies announced the acquisition of Xeye, a leading provider of wealth management technology in the North American market whose products included WealthManager. Commenting on the deal with Davy, Steve D’Souza, General Manager, Northern Europe, Odyssey Financial Technologies said:
“We are extremely pleased to have Davy as our newest client in the region. The WealthManager platform will increase the amount of time relationship managers can spend with their clients, thereby improving the Davy client experience. We look forward to a long partnership with Davy as they grow their business, improve the quality of the client interaction, and support the use of ‘best practices’ by their portfolio managers.”
About Davy
Davy is Ireland’s leading provider of stockbroking, wealth management and financial advisory services. Davy offers a broad range of services to private clients, small businesses, corporations and institutional investors, and organises its activities around four interrelated business areas – Capital Markets, Corporate Finance, Private Clients and Research. Founded in 1926, Davy has continually broken new ground in the industry by pioneering the expansion of financial and capital markets in Ireland, and providing new opportunities for investors and growing companies.
Davy is the wealth manager of choice in Ireland with over €10 billion of clients’ assets under management. Each day it handles almost half of all trading in Irish equities. It acts as primary adviser to the majority of listed and unlisted Irish companies and arranger on most Irish corporate bond issues. And since 2000 Davy has been responsible for 70% of the funds raised on the Irish Stock Exchange. Davy is an independent company owned by management and staff. Employing over 500 people, the head office is in Dublin and there are three regional offices in Belfast, Cork and Galway.
For further information, please visit: http://www.davy.ie
About Odyssey Financial Technologies
Odyssey is an industry leader in the global provision of wealth and asset management solutions and services to the Private Banking, Mass Affluent and Retail Banks as well as Institutional and Fund Managers. More than 180 financial institutions in 30 countries have chosen Odyssey solutions. Odyssey focuses on providing a comprehensive range of components for portfolio management (PMS), advisory process, customer relationship (CRM), compliance, risk, analytics and Enterprise Data Management (EDM). The components are deployed on a single scalable wealth and asset management platform, facilitating the enterprise-wide implementation of solutions and data management.
Founded in Luxembourg in 1995, Odyssey today has offices in the key financial centers, including London, New York, Singapore, Zurich, Frankfurt, Brussels, Geneva, Madrid, Toronto and Tokyo. Odyssey’s operational head office and main development centre is located in Lausanne, Switzerland. Throughout this knowledgeable network Odyssey employs over 600 professionals.
For further information, please visit: http://www.odyssey-group.com.
Contacts
©Odyssey Financial Technologies
In North America, Contact: Lara DeVido
LDeVido@ca.odyssey-group.com
tel: + 1 917 639 4161
fax: +1 212 884 0444
or
In Europe, Contact: Valérie Michiels
info@odyssey-group.com
tel: + 352 42 60 80 1
fax: + 352 42 91 92
NumeriX Names Dr. Meng Lu Senior VP, Financial Engineering
25 Feb 2008
NumeriX Names Dr. Meng Lu Senior VP, Financial Engineering
Dr. Lu Will Lead Proven, Client-driven Analytics Development Strategy
NEW YORK--(BUSINESS WIRE)--NumeriX, the award-winning, independent leader in pricing and risk analytics for fixed income, credit, foreign exchange, hybrids, cross currency, commodities, inflation rate and equity derivatives, today announced that Dr. Meng Lu, has been promoted to Senior Vice President of NumeriX’s Financial Engineering Group.
The NumeriX Financial Engineering Group, all of whom are recipients of Ph.D.’s or advanced degrees in finance, is the main point of contact for all NumeriX customers, serving as a bridge between the NumeriX development and quantitative teams. This unique, customer-facing group ensures a dynamic feedback process whereby NumeriX’s products are continually enhanced to meet the most demanding needs of derivative market participants.
“This is an exciting time for NumeriX, and we are pleased to expand the scope of Meng’s role and responsibilities as he takes charge of the Financial Engineering Group,” said Steven R. O’Hanlon, President and COO of NumeriX. “The complex derivatives market has grown enormously over the last year, which has led to a surge in demand for high-end analytics that accurately price these instruments. With Meng’s oversight, the Financial Engineering Group will ensure that NumeriX remains the leader in pricing and risk analytics.”
Dr. Lu’s promotion to lead the Financial Engineering Group is a direct response to the requirements set forth by NumeriX’s rapidly expanding customer base consisting of more than 275 end user customers and more than 40 partners. NumeriX has been growing at a rate greater than 50 percent for more than four years and expects an increase to triple digit growth in the next 18 months.
Dr. Lu, who joined NumeriX in 2000, has more than seven years of experience in the derivatives pricing industry as a financial engineer and quantitative analyst specializing in fixed income and equity derivatives at NumeriX and other financial institutions. Dr. Lu assumed management of the Financial Engineering Group last summer and is charged with ensuring the advancement of the company’s product line with client-driven features and enhancements; a strategy implemented since 2004.
About NumeriX
NumeriX is the award-winning, independent leader in pricing and risk analytics for fixed income, credit, foreign exchange, hybrids, cross currency, commodities, inflation rate and equity derivatives. NumeriX has a financial engineering and quantitative team composed largely of PhDs on the same scale as the very largest of financial institutions. More than 275 clients across 25 countries rely on NumeriX for speed and accuracy in valuing their structured products and derivatives. Trading and risk platform vendors leverage NumeriX analytics to gain a time-to-market advantage by embedding the power of NumeriX into their systems. Founded in 1996, the company is privately held and has offices in New York, Chicago, Santa Fe, Toronto, London, Paris, Singapore and, Tokyo. For more information visit www.numerix.com or type NUMX on the BLOOMBERG PROFESSIONAL® service.
Contacts
LEWIS PR
Dan Gaffney, 617-226-8844
numerix@lewispr.com
NumeriX Names Dr. Meng Lu Senior VP, Financial Engineering
Dr. Lu Will Lead Proven, Client-driven Analytics Development Strategy
NEW YORK--(BUSINESS WIRE)--NumeriX, the award-winning, independent leader in pricing and risk analytics for fixed income, credit, foreign exchange, hybrids, cross currency, commodities, inflation rate and equity derivatives, today announced that Dr. Meng Lu, has been promoted to Senior Vice President of NumeriX’s Financial Engineering Group.
The NumeriX Financial Engineering Group, all of whom are recipients of Ph.D.’s or advanced degrees in finance, is the main point of contact for all NumeriX customers, serving as a bridge between the NumeriX development and quantitative teams. This unique, customer-facing group ensures a dynamic feedback process whereby NumeriX’s products are continually enhanced to meet the most demanding needs of derivative market participants.
“This is an exciting time for NumeriX, and we are pleased to expand the scope of Meng’s role and responsibilities as he takes charge of the Financial Engineering Group,” said Steven R. O’Hanlon, President and COO of NumeriX. “The complex derivatives market has grown enormously over the last year, which has led to a surge in demand for high-end analytics that accurately price these instruments. With Meng’s oversight, the Financial Engineering Group will ensure that NumeriX remains the leader in pricing and risk analytics.”
Dr. Lu’s promotion to lead the Financial Engineering Group is a direct response to the requirements set forth by NumeriX’s rapidly expanding customer base consisting of more than 275 end user customers and more than 40 partners. NumeriX has been growing at a rate greater than 50 percent for more than four years and expects an increase to triple digit growth in the next 18 months.
Dr. Lu, who joined NumeriX in 2000, has more than seven years of experience in the derivatives pricing industry as a financial engineer and quantitative analyst specializing in fixed income and equity derivatives at NumeriX and other financial institutions. Dr. Lu assumed management of the Financial Engineering Group last summer and is charged with ensuring the advancement of the company’s product line with client-driven features and enhancements; a strategy implemented since 2004.
About NumeriX
NumeriX is the award-winning, independent leader in pricing and risk analytics for fixed income, credit, foreign exchange, hybrids, cross currency, commodities, inflation rate and equity derivatives. NumeriX has a financial engineering and quantitative team composed largely of PhDs on the same scale as the very largest of financial institutions. More than 275 clients across 25 countries rely on NumeriX for speed and accuracy in valuing their structured products and derivatives. Trading and risk platform vendors leverage NumeriX analytics to gain a time-to-market advantage by embedding the power of NumeriX into their systems. Founded in 1996, the company is privately held and has offices in New York, Chicago, Santa Fe, Toronto, London, Paris, Singapore and, Tokyo. For more information visit www.numerix.com or type NUMX
Contacts
LEWIS PR
Dan Gaffney, 617-226-8844
numerix@lewispr.com
Merrill Lynch Hires Eugene M. McQuade as Vice Chairman and President of U.S. Banking Operations
February 25, 2008
Merrill Lynch Hires Eugene M. McQuade as Vice Chairman and President of U.S. Banking Operations
Appointment Underscores Firm’s Commitment to Further Develop Industry-Leading Bank Platform
NEW YORK--(BUSINESS WIRE)--Merrill Lynch (NYSE: MER) announced today that it has appointed Eugene M. McQuade vice chairman and president of Merrill Lynch’s U.S. banks. In this new position, Mr. McQuade will be responsible for all U.S. banking operations, including Merrill Lynch Bank USA (MLBUSA) and Merrill Lynch Bank & Trust Co., FSB (MLBT). He will report to Robert J. McCann, president of Global Wealth Management at Merrill Lynch, and join the Global Wealth Management Executive Committee.
“I am very pleased to welcome Gene to Merrill Lynch,” said John A. Thain, chairman and chief executive officer of Merrill Lynch. “Gene’s appointment underscores the importance we place on banking and the tremendous business opportunities it creates for our franchise. He is an outstanding executive with deep experience in the banking industry and we will look to his leadership as we further develop and implement our strategy for the bank group.”
Prior to joining Merrill Lynch, Mr. McQuade was president and chief operating officer of Freddie Mac. He has also served as president of Bank of America Corporation, president and chief operating officer of FleetBoston Financial, and executive vice president and controller of Manufacturers Hanover Corp., a predecessor of J.P. Morgan Chase. Mr. McQuade began his career at KPMG Peat Marwick in New York.
Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 40 countries and territories and total client assets of almost $2 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies, with more than $1 trillion in assets under management. For more information on Merrill Lynch, please visit www.ml.com.
Contacts
Merrill Lynch
Media Relations:
Jennifer Grigas, 212-449-3260
jennifer_grigas@ml.com
or
Investor Relations:
Sara Furber, 866-607-1234
investor_relations@ml.com
Merrill Lynch Hires Eugene M. McQuade as Vice Chairman and President of U.S. Banking Operations
Appointment Underscores Firm’s Commitment to Further Develop Industry-Leading Bank Platform
NEW YORK--(BUSINESS WIRE)--Merrill Lynch (NYSE: MER) announced today that it has appointed Eugene M. McQuade vice chairman and president of Merrill Lynch’s U.S. banks. In this new position, Mr. McQuade will be responsible for all U.S. banking operations, including Merrill Lynch Bank USA (MLBUSA) and Merrill Lynch Bank & Trust Co., FSB (MLBT). He will report to Robert J. McCann, president of Global Wealth Management at Merrill Lynch, and join the Global Wealth Management Executive Committee.
“I am very pleased to welcome Gene to Merrill Lynch,” said John A. Thain, chairman and chief executive officer of Merrill Lynch. “Gene’s appointment underscores the importance we place on banking and the tremendous business opportunities it creates for our franchise. He is an outstanding executive with deep experience in the banking industry and we will look to his leadership as we further develop and implement our strategy for the bank group.”
Prior to joining Merrill Lynch, Mr. McQuade was president and chief operating officer of Freddie Mac. He has also served as president of Bank of America Corporation, president and chief operating officer of FleetBoston Financial, and executive vice president and controller of Manufacturers Hanover Corp., a predecessor of J.P. Morgan Chase. Mr. McQuade began his career at KPMG Peat Marwick in New York.
Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 40 countries and territories and total client assets of almost $2 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies, with more than $1 trillion in assets under management. For more information on Merrill Lynch, please visit www.ml.com.
Contacts
Merrill Lynch
Media Relations:
Jennifer Grigas, 212-449-3260
jennifer_grigas@ml.com
or
Investor Relations:
Sara Furber, 866-607-1234
investor_relations@ml.com
Lincoln Financial Distributors Builds Data-Driven Strategies with SPSS Predictive Analytics
25 Feb
Lincoln Financial Distributors Builds Data-Driven Strategies with SPSS Predictive Analytics
CHICAGO--(BUSINESS WIRE)--Lincoln Financial Distributors, Inc., the wholesale distribution and marketing arm of Lincoln Financial Group (NYSE: LNC), has selected market-leading Predictive Analytics software from SPSS Inc. (Nasdaq: SPSS) to help gain a deeper understanding of its financial intermediary customer base and use that knowledge to develop more effective sales and marketing campaigns.
Lincoln Financial Distributors sells Lincoln-manufactured variable and fixed annuities, life insurance, long-term care insurance, and investment management products through third-party financial intermediaries. As the premier wholesale distribution company in retail financial services, Lincoln Financial Distributors is building data-driven strategies to better understand its financial intermediary customers, and optimize the acquisition, development, and retention of its customers through Predictive Analytics.
Lincoln Financial Distributors selected SPSS Predictive Analytics to segment and understand its customer base, and to implement actions that can help to increase retention. Using SPSS’ software and careful analysis, the organization will be able to reach out to customers to strengthen relationships and create long-term loyalty.
“SPSS Predictive Analytics enables our organization to interact more effectively with our customers, since we’re able to identify which interactions are most valuable to them,” said Matt Wroblewski, director of marketing research at Lincoln Financial Distributors. “SPSS software created a significant change in the way Lincoln Financial views and uses its data. We’re able to use data and analytics to make smarter and more strategic decisions that are directly tied to our business goals.”
Lincoln Financial Distributors also plans to use SPSS to build predictive models for financial intermediary acquisition, up-sell and cross-sell opportunities. The organization will be able to build analytics into their acquisition processes to target the right intermediaries with the right financial products at the right rates.
Jack Noonan, SPSS chairman, president and CEO, said, “SPSS Predictive Analytics helps leading financial firms, such as Lincoln Financial, add sophisticated analytics to their operations and align themselves around their most valuable asset – their customers. With SPSS Predictive Analytics, customers in any industry are able to maximize customer value by transforming data into important insight.”
Twenty of the top 25 global banks use SPSS for customer segmentation, customer acquisition, customer growth, risk management and fraud detection.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in Philadelphia, the companies of Lincoln Financial Group had assets under management of $237 billion as of December 31, 2007. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries, and Lincoln UK. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.
About SPSS Inc.
SPSS Inc. (Nasdaq: SPSS) is a leading global provider of predictive analytics software and solutions. The company’s predictive analytics technology improves business processes by giving organizations forward visibility for decisions made every day. By incorporating predictive analytics into their daily operations, organizations become Predictive Enterprises -- able to direct and automate decisions to meet business goals and achieve a measurable competitive advantage. More than 250,000 public sector, academic and commercial customers rely on SPSS technology to help increase revenue, reduce costs and detect and prevent fraud. Founded in 1968, SPSS is headquartered in Chicago, Illinois. For more information, please visit www.spss.com.
Contacts
SPSS
Christina Preiss, (312) 651-3437
cpreiss@spss.com
or
Lincoln Financial Distributors
Heidi St. Jean, (860) 466-1759
Heidi.St.Jean@LFG.com
Lincoln Financial Distributors Builds Data-Driven Strategies with SPSS Predictive Analytics
CHICAGO--(BUSINESS WIRE)--Lincoln Financial Distributors, Inc., the wholesale distribution and marketing arm of Lincoln Financial Group (NYSE: LNC), has selected market-leading Predictive Analytics software from SPSS Inc. (Nasdaq: SPSS) to help gain a deeper understanding of its financial intermediary customer base and use that knowledge to develop more effective sales and marketing campaigns.
Lincoln Financial Distributors sells Lincoln-manufactured variable and fixed annuities, life insurance, long-term care insurance, and investment management products through third-party financial intermediaries. As the premier wholesale distribution company in retail financial services, Lincoln Financial Distributors is building data-driven strategies to better understand its financial intermediary customers, and optimize the acquisition, development, and retention of its customers through Predictive Analytics.
Lincoln Financial Distributors selected SPSS Predictive Analytics to segment and understand its customer base, and to implement actions that can help to increase retention. Using SPSS’ software and careful analysis, the organization will be able to reach out to customers to strengthen relationships and create long-term loyalty.
“SPSS Predictive Analytics enables our organization to interact more effectively with our customers, since we’re able to identify which interactions are most valuable to them,” said Matt Wroblewski, director of marketing research at Lincoln Financial Distributors. “SPSS software created a significant change in the way Lincoln Financial views and uses its data. We’re able to use data and analytics to make smarter and more strategic decisions that are directly tied to our business goals.”
Lincoln Financial Distributors also plans to use SPSS to build predictive models for financial intermediary acquisition, up-sell and cross-sell opportunities. The organization will be able to build analytics into their acquisition processes to target the right intermediaries with the right financial products at the right rates.
Jack Noonan, SPSS chairman, president and CEO, said, “SPSS Predictive Analytics helps leading financial firms, such as Lincoln Financial, add sophisticated analytics to their operations and align themselves around their most valuable asset – their customers. With SPSS Predictive Analytics, customers in any industry are able to maximize customer value by transforming data into important insight.”
Twenty of the top 25 global banks use SPSS for customer segmentation, customer acquisition, customer growth, risk management and fraud detection.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in Philadelphia, the companies of Lincoln Financial Group had assets under management of $237 billion as of December 31, 2007. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries, and Lincoln UK. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.
About SPSS Inc.
SPSS Inc. (Nasdaq: SPSS) is a leading global provider of predictive analytics software and solutions. The company’s predictive analytics technology improves business processes by giving organizations forward visibility for decisions made every day. By incorporating predictive analytics into their daily operations, organizations become Predictive Enterprises -- able to direct and automate decisions to meet business goals and achieve a measurable competitive advantage. More than 250,000 public sector, academic and commercial customers rely on SPSS technology to help increase revenue, reduce costs and detect and prevent fraud. Founded in 1968, SPSS is headquartered in Chicago, Illinois. For more information, please visit www.spss.com.
Contacts
SPSS
Christina Preiss, (312) 651-3437
cpreiss@spss.com
or
Lincoln Financial Distributors
Heidi St. Jean, (860) 466-1759
Heidi.St.Jean@LFG.com
Edward Jones Connects Global Compliance Processes with Complinet Policy Manager
February 25, 2008
Edward Jones Connects Global Compliance Processes with Complinet Policy Manager
The Brokerage Firm Rolls out Complinet across US, UK and Canadian Offices -
LONDON & NEW YORK--(BUSINESS WIRE)--Complinet, the leading provider of dynamic and connected risk and compliance solutions to the global financial services industry, has announced that financial-services firm Edward Jones has selected Complinet Policy Manager for use by its compliance functions in the United States, Canada and the United Kingdom.
Designed specifically for the compliance professionals and compliance departments that want an alternative to dated paper-based approaches of managing policy manuals, Complinet Policy Manager is a web-based solution which tracks external rule changes across the globe and dynamically links them to internal policies.
It was selected by Edward Jones as a solution that would allow synchronization of its operations’ compliance manuals in different parts of the world. Complinet Policy Manager will provide Edward Jones’ global compliance team access to consistent information and will increase the speed of policy adoption and minimize duplicated effort.
Complinet Policy Manager tracks rules and regulations across the globe and actively maintains a 'live' relationship between these external regulatory changes and the organizations’ internal corporate policies that they affect. The business is assured that its policies are updated as, or even before, the changes come into force in the markets and geographies in which it operates.
With built-in workflow, Complinet Policy Manager ensures that any changes are effectively communicated within the organization, with updates sent to all relevant individuals including compliance professionals and legal teams.
Pam Cavness, principal responsible for compliance at Edward Jones said: “We chose Complinet for its expertise in resolving global regulatory compliance challenges, and the proven track record it has with some of the world’s largest and most-respected financial services firms. The days of the dust-laden policy manuals have gone, and compliance professionals need to deploy workflow-based technologies such as Policy Manager to track and connect the vast number of external regulations with their internal policies.”
Paul Johns, chief marketing officer at Complinet said: “Over the past year, the financial sector has been subjected to extensive regulatory developments and preparing for compliance over the year ahead should be a priority for businesses. Edward Jones is a very reputable brokerage firm that is extremely conscientious in its approach to customer service. This best practice is also reflected in the company’s streamlining of its global regulatory compliance mechanisms. We welcome Edward Jones as a new customer and we are very pleased to be able to assist the company with its global compliance objectives.”
About Edward Jones
Edward Jones provides financial services for individual investors in the United States and, through its affiliates, in Canada and the United Kingdom. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work.
The firm’s 10,000-plus financial advisors work directly with more than 7 million clients to understand their personal goals – from college savings to retirement – and create long-term strategies for their investments which emphasize a well-balanced portfolio and a buy-and hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today. Edward Jones is headquartered in St. Louis, Mo. The firm's interactive Web site is located at www.edwardjones.com and its recruiting Web site is www.careers.edwardjones.com.
About Complinet
Complinet is the leading provider of dynamic and connected risk and compliance solutions to the global financial services industry.
The company’s solutions minimize exposure to risk by providing the information and technology to track and connect live external events, such as regulatory or sanction changes, with internal policy management and screening activities.
Complinet was founded in 1997 and employs more than 200 people in its offices in New York, London and Dubai. Every day, industry professionals in more than 1,200 firms across 81 countries rely on Complinet to provide information, analysis and solutions that help them keep pace with changing regulations.
In August 2007, Financial News named Complinet as one of the 21 technology companies most likely to shape the future of the financial services industry.
Contacts
North America
Prompt Communications LLC
Lisa Facinelli or Maryellen Cronin, +1 617-576-5763
lfacinelli@prompt-communications.com
or
UK
Prompt Communications Ltd
Sally Forge or Tarryn Morley, +44 208 996 1650
sforge@prompt-communications.com
Edward Jones Connects Global Compliance Processes with Complinet Policy Manager
The Brokerage Firm Rolls out Complinet across US, UK and Canadian Offices -
LONDON & NEW YORK--(BUSINESS WIRE)--Complinet, the leading provider of dynamic and connected risk and compliance solutions to the global financial services industry, has announced that financial-services firm Edward Jones has selected Complinet Policy Manager for use by its compliance functions in the United States, Canada and the United Kingdom.
Designed specifically for the compliance professionals and compliance departments that want an alternative to dated paper-based approaches of managing policy manuals, Complinet Policy Manager is a web-based solution which tracks external rule changes across the globe and dynamically links them to internal policies.
It was selected by Edward Jones as a solution that would allow synchronization of its operations’ compliance manuals in different parts of the world. Complinet Policy Manager will provide Edward Jones’ global compliance team access to consistent information and will increase the speed of policy adoption and minimize duplicated effort.
Complinet Policy Manager tracks rules and regulations across the globe and actively maintains a 'live' relationship between these external regulatory changes and the organizations’ internal corporate policies that they affect. The business is assured that its policies are updated as, or even before, the changes come into force in the markets and geographies in which it operates.
With built-in workflow, Complinet Policy Manager ensures that any changes are effectively communicated within the organization, with updates sent to all relevant individuals including compliance professionals and legal teams.
Pam Cavness, principal responsible for compliance at Edward Jones said: “We chose Complinet for its expertise in resolving global regulatory compliance challenges, and the proven track record it has with some of the world’s largest and most-respected financial services firms. The days of the dust-laden policy manuals have gone, and compliance professionals need to deploy workflow-based technologies such as Policy Manager to track and connect the vast number of external regulations with their internal policies.”
Paul Johns, chief marketing officer at Complinet said: “Over the past year, the financial sector has been subjected to extensive regulatory developments and preparing for compliance over the year ahead should be a priority for businesses. Edward Jones is a very reputable brokerage firm that is extremely conscientious in its approach to customer service. This best practice is also reflected in the company’s streamlining of its global regulatory compliance mechanisms. We welcome Edward Jones as a new customer and we are very pleased to be able to assist the company with its global compliance objectives.”
About Edward Jones
Edward Jones provides financial services for individual investors in the United States and, through its affiliates, in Canada and the United Kingdom. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work.
The firm’s 10,000-plus financial advisors work directly with more than 7 million clients to understand their personal goals – from college savings to retirement – and create long-term strategies for their investments which emphasize a well-balanced portfolio and a buy-and hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today. Edward Jones is headquartered in St. Louis, Mo. The firm's interactive Web site is located at www.edwardjones.com and its recruiting Web site is www.careers.edwardjones.com.
About Complinet
Complinet is the leading provider of dynamic and connected risk and compliance solutions to the global financial services industry.
The company’s solutions minimize exposure to risk by providing the information and technology to track and connect live external events, such as regulatory or sanction changes, with internal policy management and screening activities.
Complinet was founded in 1997 and employs more than 200 people in its offices in New York, London and Dubai. Every day, industry professionals in more than 1,200 firms across 81 countries rely on Complinet to provide information, analysis and solutions that help them keep pace with changing regulations.
In August 2007, Financial News named Complinet as one of the 21 technology companies most likely to shape the future of the financial services industry.
Contacts
North America
Prompt Communications LLC
Lisa Facinelli or Maryellen Cronin, +1 617-576-5763
lfacinelli@prompt-communications.com
or
UK
Prompt Communications Ltd
Sally Forge or Tarryn Morley, +44 208 996 1650
sforge@prompt-communications.com
Cambridge Associates Announces Formation of Mission Investing Group
February 25, 2008
Research Initiative Will Serve Growing Global Client Interest In Mission-Related Investing
BOSTON--(BUSINESS WIRE)--Cambridge Associates, a leading provider of independent investment advice and research to institutional investors and private clients, has announced the launch of the Mission Investing Group, dedicated to helping clients in the rapidly emerging arena of mission-related investing.
Cambridge Associates will be working with several partners for this initiative including the Annie E. Casey Foundation, the F.B. Heron Foundation and The Meyer Memorial Trust Foundation. The Annie E. Casey Foundation fosters public policies, human service reforms and community supports that more effectively meet the needs of today’s vulnerable children and families. The F.B. Heron Foundation is dedicated to supporting organizations with a track record of building wealth within low-income communities. The Meyer Memorial Trust Foundation is a community foundation, focused on Oregon and Southwest Washington that has invested in local venture capital, clean tech and buyout funds. These organizations are leading representatives of the “2% for Mission Campaign”, which encourages foundations to invest at least two percent of their assets – above and beyond the charitable distributions – in mission-related investments.
“The formalizing of our efforts in the mission-related investing area is a natural extension of the thorough research we’ve always provided to our clients,” said Sandra A. Urie, Cambridge Associates President and CEO. “We are pleased to be able to respond to their growing interest with the support of The Annie E. Casey Foundation, the Meyer Memorial Trust and the F.B. Heron Foundation as our partners.”
The Mission Investing Group will be assisting interested clients with carefully crafted investment plans that will provide them with the opportunity to participate in this area in a meaningful way. The Group will develop a detailed understanding of key players in the mission-related investing universe, construct a manager database, as well as define best practices for institutions regarding the establishment and implementation of these types of programs. Annual performance reports for each type of mission investing strategy, such as tobacco-free and clean tech, along with a mission investing resource guide will also be developed.
Cambridge Associates’ Mission Investing Group will be headed by Kevin Stephenson, managing director, with support from consultants Tom Mitchell and Kyle Johnson, as well as a number of the firm’s manager research specialists.
“With the increasing interest in mission-related investments, foundations can benefit from high-quality resources to assist in expanding their PRI and market rate double-bottom line portfolios,” said Burt Sonenstein, Vice President and Chief Investment Officer of the Annie E. Casey Foundation. “The Casey Foundation has allocated $100 million or three percent of assets, to mission-related investments and will extensively draw upon the Mission Investing Group to expand our portfolio. Cambridge Associates brings knowledge and expertise that allows Casey and other foundations to supplement internal investment expertise in a cost-efficient way. I’m delighted that the outstanding capabilities and resources of the Mission Investing Group will now be available to the Casey Foundation and to chief investment officers and investment committees in all foundations and other endowed institutions.”
"Given the growing interest of foundations and other institutional investors in investing proactively to address the challenges of the 21st Century - from community development to climate change - the decision of Cambridge Associates to create a dedicated Mission Investing Group is both timely and welcomed," said Sharon B. King, President of the New York-based F.B. Heron Foundation. "Harnessing the power of the capital markets for positive social and environmental impact is essential. It is appropriate that tax-advantaged institutions, such as foundations and endowments, begin to invest for mission in a thoughtful and rigorous way."
“Market rate mission related investing offers tremendous potential for foundations to employ their assets in ways that create new value and deliver greatest societal benefit,” said Doug Stamm, CEO of the Portland, Oregon-based Meyer Memorial Trust. “Cambridge Associates’ early entry into this field not only signals the coming of age of the mission-related investing movement, but most importantly will speed the delivery of robust manager selection and asset allocation tools to the foundations field.”
Founded in 1973, Cambridge Associates delivers investment consulting, independent research, and performance monitoring services to more than 850 institutional and private clients worldwide. The firm has nearly 850 employees serving its client base globally and maintains offices in Arlington, VA, Boston, Dallas, London, Menlo Park, CA, Singapore, and Sydney. Further information is available at www.cambridgeassociates.com.
Research Initiative Will Serve Growing Global Client Interest In Mission-Related Investing
BOSTON--(BUSINESS WIRE)--Cambridge Associates, a leading provider of independent investment advice and research to institutional investors and private clients, has announced the launch of the Mission Investing Group, dedicated to helping clients in the rapidly emerging arena of mission-related investing.
Cambridge Associates will be working with several partners for this initiative including the Annie E. Casey Foundation, the F.B. Heron Foundation and The Meyer Memorial Trust Foundation. The Annie E. Casey Foundation fosters public policies, human service reforms and community supports that more effectively meet the needs of today’s vulnerable children and families. The F.B. Heron Foundation is dedicated to supporting organizations with a track record of building wealth within low-income communities. The Meyer Memorial Trust Foundation is a community foundation, focused on Oregon and Southwest Washington that has invested in local venture capital, clean tech and buyout funds. These organizations are leading representatives of the “2% for Mission Campaign”, which encourages foundations to invest at least two percent of their assets – above and beyond the charitable distributions – in mission-related investments.
“The formalizing of our efforts in the mission-related investing area is a natural extension of the thorough research we’ve always provided to our clients,” said Sandra A. Urie, Cambridge Associates President and CEO. “We are pleased to be able to respond to their growing interest with the support of The Annie E. Casey Foundation, the Meyer Memorial Trust and the F.B. Heron Foundation as our partners.”
The Mission Investing Group will be assisting interested clients with carefully crafted investment plans that will provide them with the opportunity to participate in this area in a meaningful way. The Group will develop a detailed understanding of key players in the mission-related investing universe, construct a manager database, as well as define best practices for institutions regarding the establishment and implementation of these types of programs. Annual performance reports for each type of mission investing strategy, such as tobacco-free and clean tech, along with a mission investing resource guide will also be developed.
Cambridge Associates’ Mission Investing Group will be headed by Kevin Stephenson, managing director, with support from consultants Tom Mitchell and Kyle Johnson, as well as a number of the firm’s manager research specialists.
“With the increasing interest in mission-related investments, foundations can benefit from high-quality resources to assist in expanding their PRI and market rate double-bottom line portfolios,” said Burt Sonenstein, Vice President and Chief Investment Officer of the Annie E. Casey Foundation. “The Casey Foundation has allocated $100 million or three percent of assets, to mission-related investments and will extensively draw upon the Mission Investing Group to expand our portfolio. Cambridge Associates brings knowledge and expertise that allows Casey and other foundations to supplement internal investment expertise in a cost-efficient way. I’m delighted that the outstanding capabilities and resources of the Mission Investing Group will now be available to the Casey Foundation and to chief investment officers and investment committees in all foundations and other endowed institutions.”
"Given the growing interest of foundations and other institutional investors in investing proactively to address the challenges of the 21st Century - from community development to climate change - the decision of Cambridge Associates to create a dedicated Mission Investing Group is both timely and welcomed," said Sharon B. King, President of the New York-based F.B. Heron Foundation. "Harnessing the power of the capital markets for positive social and environmental impact is essential. It is appropriate that tax-advantaged institutions, such as foundations and endowments, begin to invest for mission in a thoughtful and rigorous way."
“Market rate mission related investing offers tremendous potential for foundations to employ their assets in ways that create new value and deliver greatest societal benefit,” said Doug Stamm, CEO of the Portland, Oregon-based Meyer Memorial Trust. “Cambridge Associates’ early entry into this field not only signals the coming of age of the mission-related investing movement, but most importantly will speed the delivery of robust manager selection and asset allocation tools to the foundations field.”
Founded in 1973, Cambridge Associates delivers investment consulting, independent research, and performance monitoring services to more than 850 institutional and private clients worldwide. The firm has nearly 850 employees serving its client base globally and maintains offices in Arlington, VA, Boston, Dallas, London, Menlo Park, CA, Singapore, and Sydney. Further information is available at www.cambridgeassociates.com.
Mutual of Omaha to Acquire Retirement Marketing Services
February 25, 2008
Mutual of Omaha to Acquire Retirement Marketing Services
OMAHA, Neb.--(BUSINESS WIRE)--Mutual of Omaha has entered into a definitive agreement to acquire the assets and personnel of Retirement Marketing Services (RMS), a Dublin, Ohio-based independent wholesaler specializing in marketing retirement products in the 401(k), 403(b), 457 and individual rollover markets, the companies announced.
The transaction is expected to be complete within 30 days. The terms of the transaction were not disclosed.
Upon completion of the transaction, RMS will begin doing business as Retirement Marketing Solutions, Inc., a wholly owned Mutual of Omaha subsidiary.
Over the past two years, RMS became the primary distribution for Mutual of Omaha’s retirement plans, and Mutual of Omaha plans made up more than 60 percent of the firm’s new business, according to Bud Wright, Mutual Senior Vice President-Retirement Plans.
“Taking our successful relationship with RMS to the next level has advantages for both organizations,” Wright said. “Mutual of Omaha will have access to a superior sales force with a proven track record in the retirement plans marketplace, while RMS becomes part of a larger organization with the resources necessary to grow its business model.”
Chuck Lombardo, RMS president and founder, will continue to lead the organization and no personnel changes are anticipated. It will remain in Dublin, Ohio.
Founded in 2001, RMS has more than 50 wholesalers located across the United States. Annual sales exceed $500 million. Services include actuarial consulting, product design, marketing, information systems and technology, and internal sales support. RMS represents 401(k) and related retirement products from Mutual of Omaha and other national insurance companies.
Mutual of Omaha is a full-service, multi-line organization providing insurance and financial products for individuals, businesses and groups throughout the United States. For more information about Mutual of Omaha, visit www.mutualofomaha.com.
Mutual of Omaha to Acquire Retirement Marketing Services
OMAHA, Neb.--(BUSINESS WIRE)--Mutual of Omaha has entered into a definitive agreement to acquire the assets and personnel of Retirement Marketing Services (RMS), a Dublin, Ohio-based independent wholesaler specializing in marketing retirement products in the 401(k), 403(b), 457 and individual rollover markets, the companies announced.
The transaction is expected to be complete within 30 days. The terms of the transaction were not disclosed.
Upon completion of the transaction, RMS will begin doing business as Retirement Marketing Solutions, Inc., a wholly owned Mutual of Omaha subsidiary.
Over the past two years, RMS became the primary distribution for Mutual of Omaha’s retirement plans, and Mutual of Omaha plans made up more than 60 percent of the firm’s new business, according to Bud Wright, Mutual Senior Vice President-Retirement Plans.
“Taking our successful relationship with RMS to the next level has advantages for both organizations,” Wright said. “Mutual of Omaha will have access to a superior sales force with a proven track record in the retirement plans marketplace, while RMS becomes part of a larger organization with the resources necessary to grow its business model.”
Chuck Lombardo, RMS president and founder, will continue to lead the organization and no personnel changes are anticipated. It will remain in Dublin, Ohio.
Founded in 2001, RMS has more than 50 wholesalers located across the United States. Annual sales exceed $500 million. Services include actuarial consulting, product design, marketing, information systems and technology, and internal sales support. RMS represents 401(k) and related retirement products from Mutual of Omaha and other national insurance companies.
Mutual of Omaha is a full-service, multi-line organization providing insurance and financial products for individuals, businesses and groups throughout the United States. For more information about Mutual of Omaha, visit www.mutualofomaha.com.
Credit Suisse Private Banking USA Opens ''Office of the Future''
February 25, 2008
Credit Suisse Private Banking USA Opens ''Office of the Future'' in Northbrook, Illinois
CHICAGO--(BUSINESS WIRE)--Credit Suisse today announced the opening of a Private Banking USA office in Northbrook, IL to serve the wealth management needs of the growing number of high-net worth and ultra-high net worth individuals in the area. The 12,000-square-foot office, headed by Chris Williams, reflects an unmatched focus on clients through its internal workplace zones.
“We are delighted to officially open our Northbrook office and to serve the North Shore, a major wealth market,” said Chris Williams, Head of the Northbrook office, Private Banking USA. “We are committed to further establishing and growing our Private Banking business here."
The office opening is another example of Credit Suisse’s strategy to expand its presence in the United States. Private Banking USA now operates 16 offices across the US and added locations in Greenwich, CT and Philadelphia, PA last year.
Office of the Future
“The client experience is critical to our business and key to Private Banking USA's growth strategy,” said Mr. Williams. “Our intent with this office is to deliver a premium, unforgettable experience not only to our clients, but also to our Relationship Managers and branch staff.”
Credit Suisse worked with Gensler, a global design firm, to create the Northbrook office. The space features sophisticated design elements such as a textured glass wall that acts as a light screening element to create privacy as well as a subtle transparency.
“The Northbrook office caters to different work styles and situations. Outward facing client zones complement internal workspace zones. This dichotomy continues through materiality playing rich and luxurious materials against those that are more comfortable and informal,” said Todd Heiser of Gensler. “For example, we have created discreet, private meeting rooms with high quality furnishings where Relationship Managers can meet with their clients. More comfortable, lounge-like areas enable clients to relax before or after meetings, check their email or have coffee.”
“We've created an inventive and connected atmosphere, where clients have access to Wifi and streaming world news via plasma screens," said Dan McCloskey of Gensler. “The staff also benefits from tabletop access to technology and large format A/V systems. The space is timeless and modern.”
Credit Suisse Private Banking USA combines the benefits of a boutique with access to professionals and product breadth of Credit Suisse, which is one of the world’s leading private banks, a world class global firm with a 152 year heritage of serving the unique needs of wealthy individuals.
Private Banking USA operates out of 16 offices across the United States and works with a select number of wealthy individuals and family groups to provide a high degree of personalized service. Private Banking USA works closely with all areas of Credit Suisse, providing clients with many of the same resources and services offered to the Bank’s largest and most sophisticated institutional investors.
Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 48,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Private Banking
In Private Banking, Credit Suisse provides comprehensive advice and a broad range of investment products and services tailored to the complex needs of high-net-worth individuals globally. Wealth management solutions include tax planning; pension planning; life insurance solutions; wealth and inheritance advice, trusts and foundations. In Switzerland, Credit Suisse supplies banking products and services to private banking clients as well as to business and retail clients.
Credit Suisse Securities (USA) LLC is an indirect subsidiary of Credit Suisse. The Private Banking USA business in Credit Suisse Securities (USA) LLC is a U.S. regulated broker dealer. It is not a chartered bank, trust company or depository institution. It is not authorized to accept deposits or provide corporate trust services and it is not licensed or regulated by any federal banking authority.
Contacts
Credit Suisse
Kristine Duckett, +1-212-325-6830
kristine.duckett@credit-suisse.com
Credit Suisse Private Banking USA Opens ''Office of the Future'' in Northbrook, Illinois
CHICAGO--(BUSINESS WIRE)--Credit Suisse today announced the opening of a Private Banking USA office in Northbrook, IL to serve the wealth management needs of the growing number of high-net worth and ultra-high net worth individuals in the area. The 12,000-square-foot office, headed by Chris Williams, reflects an unmatched focus on clients through its internal workplace zones.
“We are delighted to officially open our Northbrook office and to serve the North Shore, a major wealth market,” said Chris Williams, Head of the Northbrook office, Private Banking USA. “We are committed to further establishing and growing our Private Banking business here."
The office opening is another example of Credit Suisse’s strategy to expand its presence in the United States. Private Banking USA now operates 16 offices across the US and added locations in Greenwich, CT and Philadelphia, PA last year.
Office of the Future
“The client experience is critical to our business and key to Private Banking USA's growth strategy,” said Mr. Williams. “Our intent with this office is to deliver a premium, unforgettable experience not only to our clients, but also to our Relationship Managers and branch staff.”
Credit Suisse worked with Gensler, a global design firm, to create the Northbrook office. The space features sophisticated design elements such as a textured glass wall that acts as a light screening element to create privacy as well as a subtle transparency.
“The Northbrook office caters to different work styles and situations. Outward facing client zones complement internal workspace zones. This dichotomy continues through materiality playing rich and luxurious materials against those that are more comfortable and informal,” said Todd Heiser of Gensler. “For example, we have created discreet, private meeting rooms with high quality furnishings where Relationship Managers can meet with their clients. More comfortable, lounge-like areas enable clients to relax before or after meetings, check their email or have coffee.”
“We've created an inventive and connected atmosphere, where clients have access to Wifi and streaming world news via plasma screens," said Dan McCloskey of Gensler. “The staff also benefits from tabletop access to technology and large format A/V systems. The space is timeless and modern.”
Credit Suisse Private Banking USA combines the benefits of a boutique with access to professionals and product breadth of Credit Suisse, which is one of the world’s leading private banks, a world class global firm with a 152 year heritage of serving the unique needs of wealthy individuals.
Private Banking USA operates out of 16 offices across the United States and works with a select number of wealthy individuals and family groups to provide a high degree of personalized service. Private Banking USA works closely with all areas of Credit Suisse, providing clients with many of the same resources and services offered to the Bank’s largest and most sophisticated institutional investors.
Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 48,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Private Banking
In Private Banking, Credit Suisse provides comprehensive advice and a broad range of investment products and services tailored to the complex needs of high-net-worth individuals globally. Wealth management solutions include tax planning; pension planning; life insurance solutions; wealth and inheritance advice, trusts and foundations. In Switzerland, Credit Suisse supplies banking products and services to private banking clients as well as to business and retail clients.
Credit Suisse Securities (USA) LLC is an indirect subsidiary of Credit Suisse. The Private Banking USA business in Credit Suisse Securities (USA) LLC is a U.S. regulated broker dealer. It is not a chartered bank, trust company or depository institution. It is not authorized to accept deposits or provide corporate trust services and it is not licensed or regulated by any federal banking authority.
Contacts
Credit Suisse
Kristine Duckett, +1-212-325-6830
kristine.duckett@credit-suisse.com
Saturday, February 23, 2008
Investing Systems Offers “One-Click Stock Picks”
Investing Systems Offers “One-Click Stock Picks” and Free Software for Short-Term Stock Traders
Feb 22 2008
AMELIA ISLAND, Fla.--(BUSINESS WIRE)--Investing Systems announced today the results from their stock picking software in the all new Research Lab.
"We have been delivering stock picking software to retail investors for the last ten years," said William McKinley, President of Investing Systems. "Now we have opened up our in-house Research Lab and allow people to see the scans, filters and dashboards that we use in-house to monitor the markets.”
The Research Lab provides an in-depth look at market internals and a variety of stock pick lists every trading day. The picks are based on growth and momentum as identified by technical and fundamental criteria.
Friday’s biggest gainer came from the Alpha List and closed the day up 20% from the pick price. The Momentum List, Earnings List, Breakout List and Low Priced List delivered some big winners as well.
Investing Systems offers the widest variety of tools and software for traders anywhere on the Internet. The new Research Lab is the ultimate bundle of software and services for long-term and short-term traders.
“We offer a complete bundle of trading software free for everyone,” McKinley said. “Signing up for the free software will also qualify you for a discount on the premium services in the Research Lab.”
The Investing Systems Research Lab will offer watch-lists of stocks on the move, a real-time ETF Dashboard as well as a collection of tools available only to their premium members.
“We want to help retail investors get an advantage,” McKinley said. “Trading stocks can be very rewarding, but people need tools to get the job done right. That is why we built this bundle of software and services.”
Investing Systems Inc. manages a network of websites focused on the benefits of disciplined systematic investing. Customers in more than 70 countries use Investing Systems products and services to become better, more disciplined investors.
"We want everyone to get the free software bundle," McKinley said. "Then you also get more than half off the retail price of the Research Lab.”
For additional information about the free software bundle visit: http://www.The-Market-Toolbox.com.
For additional information about the Research Lab visit: http://www.StockTraderSoftware.net.
Contacts
Investing Systems Inc., Amelia Island
Douglas Newberry, 904-261-5289
DNewberry@investing-systems.com
Feb 22 2008
AMELIA ISLAND, Fla.--(BUSINESS WIRE)--Investing Systems announced today the results from their stock picking software in the all new Research Lab.
"We have been delivering stock picking software to retail investors for the last ten years," said William McKinley, President of Investing Systems. "Now we have opened up our in-house Research Lab and allow people to see the scans, filters and dashboards that we use in-house to monitor the markets.”
The Research Lab provides an in-depth look at market internals and a variety of stock pick lists every trading day. The picks are based on growth and momentum as identified by technical and fundamental criteria.
Friday’s biggest gainer came from the Alpha List and closed the day up 20% from the pick price. The Momentum List, Earnings List, Breakout List and Low Priced List delivered some big winners as well.
Investing Systems offers the widest variety of tools and software for traders anywhere on the Internet. The new Research Lab is the ultimate bundle of software and services for long-term and short-term traders.
“We offer a complete bundle of trading software free for everyone,” McKinley said. “Signing up for the free software will also qualify you for a discount on the premium services in the Research Lab.”
The Investing Systems Research Lab will offer watch-lists of stocks on the move, a real-time ETF Dashboard as well as a collection of tools available only to their premium members.
“We want to help retail investors get an advantage,” McKinley said. “Trading stocks can be very rewarding, but people need tools to get the job done right. That is why we built this bundle of software and services.”
Investing Systems Inc. manages a network of websites focused on the benefits of disciplined systematic investing. Customers in more than 70 countries use Investing Systems products and services to become better, more disciplined investors.
"We want everyone to get the free software bundle," McKinley said. "Then you also get more than half off the retail price of the Research Lab.”
For additional information about the free software bundle visit: http://www.The-Market-Toolbox.com.
For additional information about the Research Lab visit: http://www.StockTraderSoftware.net.
Contacts
Investing Systems Inc., Amelia Island
Douglas Newberry, 904-261-5289
DNewberry@investing-systems.com
Scottrade 58 place in Fortune Best Places to Work List
22 Jan 2008
Scottrade made the Fortune list for the first time in the company's history coming in at No. 58. The online investment brokerage company reported 13 percent job growth and 1,584 U.S. employees.
FORTUNE singled out Scottrade's internship program, which employs 200 college students each year, as a unique program offered by the firm. More than 20 percent of Scottrade's current branch managers began their careers at Scottrade as interns, according to a Scottrade release.
In 2007, Scottrade hired more than 500 people, a 46 percent increase over 2006, and more than 500 associates were promoted in 2007, a 27 percent increase over the prior year. The company said it plans to hire nearly 400 more associates in the coming year.
http://stlouis.bizjournals.com/stlouis/stories/2008/01/21/daily14.html?jst=s_cn_hl
Scottrade made the Fortune list for the first time in the company's history coming in at No. 58. The online investment brokerage company reported 13 percent job growth and 1,584 U.S. employees.
FORTUNE singled out Scottrade's internship program, which employs 200 college students each year, as a unique program offered by the firm. More than 20 percent of Scottrade's current branch managers began their careers at Scottrade as interns, according to a Scottrade release.
In 2007, Scottrade hired more than 500 people, a 46 percent increase over 2006, and more than 500 associates were promoted in 2007, a 27 percent increase over the prior year. The company said it plans to hire nearly 400 more associates in the coming year.
http://stlouis.bizjournals.com/stlouis/stories/2008/01/21/daily14.html?jst=s_cn_hl
Edward Jones Ranked No. 4 in Best Companies to Work For List
Edward Jones Ranked No. 4 by FORTUNE Magazine in its Ninth Appearance on
Best Companies to Work For List
Named No. 2 for Companies Its Size
22 Jan 2008
The financial-services firm Edward Jones was ranked No. 4 on FORTUNE magazine's
"100 Best Companies to Work For" list. In its ninth appearance on the annual list, Edward Jones also ranked No. 2 for large-sized companies. The full list and related stories appear in the February 4 issue of FORTUNE.
Edward Jones' nine FORTUNE rankings include top 10 finishes for six years and consecutive No. 1 rankings in 2002 and 2003. The magazine also lists Edward Jones as having the best benefit options for work-life balance.
In naming Edward Jones to the prestigious list, FORTUNE editors say, that many of the firm's associates in the St. Louis home office got a 6.5 percent raise last year as the brokerage firm opened 1,000 new offices in the U.S.
To pick the “100 Best Companies to Work for”, FORTUNE works with the Great Place to Work Institute to conduct the most extensive employee survey in corporate America. The FORTUNE "100 Best Companies to Work For" ranking is employee-driven, with two-thirds of the scoring based upon how randomly selected employees respond to an anonymous survey designed to measure the quality of workplace culture. The remainder of the score is based on an in-depth analysis of the companies' benefits and practices.
The FORTUNE ranking is one of several important honors based on associate input that Edward Jones has received in recent weeks. In early December, the firm was ranked No. 1 in Registered Rep. magazine's annual brokerage report card for the 15th consecutive year. Last month, Edward Jones ranked No. 5 among the "50 Best Employers in Canada" in the Globe and Mail's annual listing in Report on Business Magazine. Over the past year, Edward Jones also has received workplace recognitions from 24 state and provincial publications in the U.S. and Canada.
The firm also was ranked first in J.D. Power and Associates' annual survey of customer satisfaction among full-service investors.
Edward Jones provides financial services for individual investors in the United States and, through its affiliates, in Canada and the United Kingdom. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The firm’s 10,000-plus financial advisors work directly with more than 7 million clients to understand their personal goals – from college
savings to retirement – and create long-term investment strategies which emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building longterm, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.
Headquarters
12555 Manchester Road
St. Louis, MO 63131-3729
314-515-2000
Best Companies to Work For List
Named No. 2 for Companies Its Size
22 Jan 2008
The financial-services firm Edward Jones was ranked No. 4 on FORTUNE magazine's
"100 Best Companies to Work For" list. In its ninth appearance on the annual list, Edward Jones also ranked No. 2 for large-sized companies. The full list and related stories appear in the February 4 issue of FORTUNE.
Edward Jones' nine FORTUNE rankings include top 10 finishes for six years and consecutive No. 1 rankings in 2002 and 2003. The magazine also lists Edward Jones as having the best benefit options for work-life balance.
In naming Edward Jones to the prestigious list, FORTUNE editors say, that many of the firm's associates in the St. Louis home office got a 6.5 percent raise last year as the brokerage firm opened 1,000 new offices in the U.S.
To pick the “100 Best Companies to Work for”, FORTUNE works with the Great Place to Work Institute to conduct the most extensive employee survey in corporate America. The FORTUNE "100 Best Companies to Work For" ranking is employee-driven, with two-thirds of the scoring based upon how randomly selected employees respond to an anonymous survey designed to measure the quality of workplace culture. The remainder of the score is based on an in-depth analysis of the companies' benefits and practices.
The FORTUNE ranking is one of several important honors based on associate input that Edward Jones has received in recent weeks. In early December, the firm was ranked No. 1 in Registered Rep. magazine's annual brokerage report card for the 15th consecutive year. Last month, Edward Jones ranked No. 5 among the "50 Best Employers in Canada" in the Globe and Mail's annual listing in Report on Business Magazine. Over the past year, Edward Jones also has received workplace recognitions from 24 state and provincial publications in the U.S. and Canada.
The firm also was ranked first in J.D. Power and Associates' annual survey of customer satisfaction among full-service investors.
Edward Jones provides financial services for individual investors in the United States and, through its affiliates, in Canada and the United Kingdom. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The firm’s 10,000-plus financial advisors work directly with more than 7 million clients to understand their personal goals – from college
savings to retirement – and create long-term investment strategies which emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building longterm, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.
Headquarters
12555 Manchester Road
St. Louis, MO 63131-3729
314-515-2000
Friday, February 22, 2008
Report: The Evaluation and Optimization of Trading Strategies, 2nd Edition
Research and Markets: The Evaluation and Optimization of Trading Strategies, 2nd Edition Presents Traders with a Way to Develop and Verify Their Trading Strategy No Matter What Form They Are Currently Using
22 Feb 2008
DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/reports/c83698) has announced the addition of The Evaluation and Optimization of Trading Strategies, 2nd Edition to their offering.
A newly expanded and updated edition of the trading classic, Design, Testing, and Optimization of Trading Systems
Trading systems expert Robert Pardo is back, and in The Evaluation and Optimization of Trading Strategies, a thoroughly revised and updated edition of his classic text Design, Testing, and Optimization of Trading Systems, he reveals how he has perfected the programming and testing of trading systems using a successful battery of his own time-proven techniques. With this book, Pardo delivers important information to readers, from the design of workable trading strategies to measuring issues like profit and risk. Written in a straightforward and accessible style, this detailed guide presents traders with a way to develop and verify their trading strategy no matter what form they are currently using-stochastics, moving averages, chart patterns, RSI, or breakout methods. Whether a trader is seeking to enhance their profit or just getting started in testing, The Evaluation and Optimization of Trading Strategies offers practical instruction and expert advice on the development, evaluation, and application of winning mechanical trading systems.
Authors bio:
Robert Pardo is a recognized expert in the design and testing of trading strategies and computerized trading applications, and a long-standing professional money manager. He is founder and President of Pardo Capital Limited, a professional money management firm; Pardo Group Limited, a consulting firm; and Pardo Analytics Limited, a proprietary market analysis services firm. Since 1983, Pardo has continuously updated his software as well as designed, programmed, and documented versions of various commercial trading applications. He has worked as a consultant with world-class trading firms such as Goldman Sachs, Transworld Oil, and Daiwa Securities, and created the XT99 trading platform as a joint venture and ongoing strategic alliance between Pardo Capital Limited and Dunn Capital Management
Chapter Titles:
Chapter 1. On Trading Strategies.
Chapter 2. The Systematic Trading "Edge".
Chapter 3. The Trading Strategy Development Process.
Chapter 4. The Strategy Development Platform.
Chapter 5. The Elements of Strategy Design.
Chapter 6. The Historical Simulation.
Chapter 7. Formulation and Specification.
Chapter 8. Preliminary Testing.
Chapter 9. Search and Judgment.
Chapter 10. Optimization.
Chapter 11. Walk-Forward Analysis.
Chapter 12. The Evaluation of Performance.
Chapter 13. The Many Faces of Overfitting.
Chapter 14. Trading the Strategy.
For more information visit http://www.researchandmarkets.com/reports/c83698.
Contacts
Research and Markets
Laura Wood
Senior Manager
Fax: +353 1 4100 980
press@researchandmarkets.com
22 Feb 2008
DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/reports/c83698) has announced the addition of The Evaluation and Optimization of Trading Strategies, 2nd Edition to their offering.
A newly expanded and updated edition of the trading classic, Design, Testing, and Optimization of Trading Systems
Trading systems expert Robert Pardo is back, and in The Evaluation and Optimization of Trading Strategies, a thoroughly revised and updated edition of his classic text Design, Testing, and Optimization of Trading Systems, he reveals how he has perfected the programming and testing of trading systems using a successful battery of his own time-proven techniques. With this book, Pardo delivers important information to readers, from the design of workable trading strategies to measuring issues like profit and risk. Written in a straightforward and accessible style, this detailed guide presents traders with a way to develop and verify their trading strategy no matter what form they are currently using-stochastics, moving averages, chart patterns, RSI, or breakout methods. Whether a trader is seeking to enhance their profit or just getting started in testing, The Evaluation and Optimization of Trading Strategies offers practical instruction and expert advice on the development, evaluation, and application of winning mechanical trading systems.
Authors bio:
Robert Pardo is a recognized expert in the design and testing of trading strategies and computerized trading applications, and a long-standing professional money manager. He is founder and President of Pardo Capital Limited, a professional money management firm; Pardo Group Limited, a consulting firm; and Pardo Analytics Limited, a proprietary market analysis services firm. Since 1983, Pardo has continuously updated his software as well as designed, programmed, and documented versions of various commercial trading applications. He has worked as a consultant with world-class trading firms such as Goldman Sachs, Transworld Oil, and Daiwa Securities, and created the XT99 trading platform as a joint venture and ongoing strategic alliance between Pardo Capital Limited and Dunn Capital Management
Chapter Titles:
Chapter 1. On Trading Strategies.
Chapter 2. The Systematic Trading "Edge".
Chapter 3. The Trading Strategy Development Process.
Chapter 4. The Strategy Development Platform.
Chapter 5. The Elements of Strategy Design.
Chapter 6. The Historical Simulation.
Chapter 7. Formulation and Specification.
Chapter 8. Preliminary Testing.
Chapter 9. Search and Judgment.
Chapter 10. Optimization.
Chapter 11. Walk-Forward Analysis.
Chapter 12. The Evaluation of Performance.
Chapter 13. The Many Faces of Overfitting.
Chapter 14. Trading the Strategy.
For more information visit http://www.researchandmarkets.com/reports/c83698.
Contacts
Research and Markets
Laura Wood
Senior Manager
Fax: +353 1 4100 980
press@researchandmarkets.com
Company Profile for Alexander Hutton, Inc.
February 22, 2008
Company Profile for Alexander Hutton, Inc.
--(BUSINESS WIRE)--For 22 years, Alexander Hutton has completed mergers, acquisitions and recapitalizations for middle market companies headquartered in the Pacific Northwest.
Company:
Alexander Hutton, Inc.
Headquarters Address:
1215 Fourth Avenue
Suite 900
Seattle, WA 98161
Main Telephone:
206-341-9800
Website:
www.alexanderhutton.com
Type of Organization:
Private
Industry:
Finance
Key Executives:
Managing Director: Dave Fitterer
Public Relations
Contact:
Scott Hardman
Phone:
206-792-1964
Email:
shardman@alexanderhutton.com
Company Profile for Alexander Hutton, Inc.
--(BUSINESS WIRE)--For 22 years, Alexander Hutton has completed mergers, acquisitions and recapitalizations for middle market companies headquartered in the Pacific Northwest.
Company:
Alexander Hutton, Inc.
Headquarters Address:
1215 Fourth Avenue
Suite 900
Seattle, WA 98161
Main Telephone:
206-341-9800
Website:
www.alexanderhutton.com
Type of Organization:
Private
Industry:
Finance
Key Executives:
Managing Director: Dave Fitterer
Public Relations
Contact:
Scott Hardman
Phone:
206-792-1964
Email:
shardman@alexanderhutton.com
Zacks Ranks Broker’s U.S. Model Portfolios
Zacks Ranks Broker’s U.S. Model Portfolios for Second Half of 2007
22 Feb 2008
CHICAGO--(BUSINESS WIRE)--In a year where many factors came together to negatively impact stocks, not the least of which was volatility, and the market struggled to post a profit, investors became increasingly nervous over the direction of the stock market during the second half of 2007. This made stock picking more difficult, to say the least. Having said that, Zacks Investment Research once again releases the rankings of the model portfolios of some of the street’s retail brokerages.
The leading brokerage firms employ analysts who produce recommendations for hundreds of stocks, which can not all be bought for a client portfolio. These brokerage firms then create model portfolios from all of the stocks each firm is following. These can be used as a starting point in the stock selection process to meet a specific client's risk & return needs. The process to create these lists range from a bottom up quantitative methodology, to a top down fundamental process. The model portfolios in the Zacks survey include U.S. traded equities including ADRs.
Overall, the survey shows that the firms that didn’t rotate their portfolio holdings to large cap, defensive, quality stocks, from small cap stocks, in the second half of last year, didn’t fare as well as those who did.
Those with an over exposure to financial stocks saw the same result. For the second half of 2007, Bear Stearns took the top spot with a 12.08% total return. Goldman Sachs took second and Morgan Stanley took third place. Bear Stearns also placed first in the one year ranking, with a 21.98% total return. Goldman Sachs placed second in that time period as well, with a total return of 16.76%. Morgan Stanley took third here as well, with a 12.01% return.
The top 13 ranked brokerages for the second half of 2007 (6/30/07 to 12/31/07) are as follows…
Rank Brokerage Firm Total Return
1. Bear Stearns 12.08%
2. Goldman Sachs 5.04%
3. Morgan Stanley 1.71%
4. A G Edwards -0.34%
5. Smith Barney -0.91%
6. Edward Jones -1.18%
7. Raymond James -3.15%
8. Bank Of America -4.16%
9. Charles Schwab -5.79%
10. McAdams Wright Ragen -6.18%
11. Credit Suisse -7.25%
12. Matrix USA -10.85%
13. Morgan Keegan -17.32%
S&P Total Return.....-1.37%
S&P 500 Total Return Equal Weighted.....-6.75%
It is important to note that despite the rough second half of 2007, the average broker list outperformed the S&P 500 for the longer time periods under review (1 yr, 3yr, 5yr and 7yr), some pretty significantly.
Correction: Due to a computation error, Matrix finish for 2006 was incorrectly listed in our release “Brokerage Firm’s Stock Recommendations Still Prove Profitable” , March 12, 2007. With a 14.54% total return, the firm placed second in the second half to first-place winner Smith Barney.
Zacks complete one-, three-, five- and seven-year rankings are available to the media upon request. Zacks calculates the performance of the brokerage "model portfolios" it tracks, on an equal-weighted basis. Total return performance figures include stock price changes, dividends and hypothetical trading commissions of 1% for each addition and deletion to the model portfolios.
The S&P 500 Index is a well-known, unmanaged index of the prices of 500 large-company common stocks, mainly blue-chip stocks, selected by Standard & Poor's. The S&P 500 Index assumes reinvestment of dividends but does not reflect advisory fees. An investor cannot invest directly in an index.
Zacks Investment Research, Inc., developed the concept of the EPS Surprise and created the first quantitative model to predict stock prices based on patterns, estimate revisions and surprises, called the Zacks Rank. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities.
truffolo@zacks.com. Zacks Investment Research, 111 N. Canal Street, Suite 1101, Chicago, IL 60606.
22 Feb 2008
CHICAGO--(BUSINESS WIRE)--In a year where many factors came together to negatively impact stocks, not the least of which was volatility, and the market struggled to post a profit, investors became increasingly nervous over the direction of the stock market during the second half of 2007. This made stock picking more difficult, to say the least. Having said that, Zacks Investment Research once again releases the rankings of the model portfolios of some of the street’s retail brokerages.
The leading brokerage firms employ analysts who produce recommendations for hundreds of stocks, which can not all be bought for a client portfolio. These brokerage firms then create model portfolios from all of the stocks each firm is following. These can be used as a starting point in the stock selection process to meet a specific client's risk & return needs. The process to create these lists range from a bottom up quantitative methodology, to a top down fundamental process. The model portfolios in the Zacks survey include U.S. traded equities including ADRs.
Overall, the survey shows that the firms that didn’t rotate their portfolio holdings to large cap, defensive, quality stocks, from small cap stocks, in the second half of last year, didn’t fare as well as those who did.
Those with an over exposure to financial stocks saw the same result. For the second half of 2007, Bear Stearns took the top spot with a 12.08% total return. Goldman Sachs took second and Morgan Stanley took third place. Bear Stearns also placed first in the one year ranking, with a 21.98% total return. Goldman Sachs placed second in that time period as well, with a total return of 16.76%. Morgan Stanley took third here as well, with a 12.01% return.
The top 13 ranked brokerages for the second half of 2007 (6/30/07 to 12/31/07) are as follows…
Rank Brokerage Firm Total Return
1. Bear Stearns 12.08%
2. Goldman Sachs 5.04%
3. Morgan Stanley 1.71%
4. A G Edwards -0.34%
5. Smith Barney -0.91%
6. Edward Jones -1.18%
7. Raymond James -3.15%
8. Bank Of America -4.16%
9. Charles Schwab -5.79%
10. McAdams Wright Ragen -6.18%
11. Credit Suisse -7.25%
12. Matrix USA -10.85%
13. Morgan Keegan -17.32%
S&P Total Return.....-1.37%
S&P 500 Total Return Equal Weighted.....-6.75%
It is important to note that despite the rough second half of 2007, the average broker list outperformed the S&P 500 for the longer time periods under review (1 yr, 3yr, 5yr and 7yr), some pretty significantly.
Correction: Due to a computation error, Matrix finish for 2006 was incorrectly listed in our release “Brokerage Firm’s Stock Recommendations Still Prove Profitable” , March 12, 2007. With a 14.54% total return, the firm placed second in the second half to first-place winner Smith Barney.
Zacks complete one-, three-, five- and seven-year rankings are available to the media upon request. Zacks calculates the performance of the brokerage "model portfolios" it tracks, on an equal-weighted basis. Total return performance figures include stock price changes, dividends and hypothetical trading commissions of 1% for each addition and deletion to the model portfolios.
The S&P 500 Index is a well-known, unmanaged index of the prices of 500 large-company common stocks, mainly blue-chip stocks, selected by Standard & Poor's. The S&P 500 Index assumes reinvestment of dividends but does not reflect advisory fees. An investor cannot invest directly in an index.
Zacks Investment Research, Inc., developed the concept of the EPS Surprise and created the first quantitative model to predict stock prices based on patterns, estimate revisions and surprises, called the Zacks Rank. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities.
truffolo@zacks.com. Zacks Investment Research, 111 N. Canal Street, Suite 1101, Chicago, IL 60606.
William Blair & Company - John Brennan to be Head - PWM
William Blair & Company Announces John Brennan as
Head of Private Wealth Management
22 Feb 2008
CHICAGO--(BUSINESS WIRE)--William Blair & Company today announced that John Brennan will join the firm as head of Private Wealth Management, a new position. Mr. Brennan most recently was president of Bank of America Illinois and a LaSalle Bank transition leader. Mr. Brennan will report directly to Michelle R. Seitz, CFA, head of Investment Management and a member of the firm’s executive committee.
John Brennan, a 22-year veteran of the financial services industry, has extensive experience in market strategy development and execution. In his role as regional president of Bank of America’s Private Bank for the central region, Mr. Brennan was responsible for a $52 billion portfolio in as many as 15 states and a staff of approximately 700 professional-level associates. He received both his undergraduate and MBA degrees from Vanderbilt University, Owen Graduate School of Management. Mr. Brennan is extensively involved in civic and community organizations, including the Shedd Aquarium Board of Trustees, PBS’s Window to the World, Chicago Library Foundation, and the Lyric Opera Board.
William Blair & Company is increasingly known for its prominence in the asset management business, with a global footprint of more than $58 billion as of December 31, 2007. The firm also has been a well-respected provider of private wealth management services for more than 70 years, recognized as one of the top 30 private banks by Barron’s¹ since 2000 (the first year of the ranking), and ranked by Crain’s² as the No. 7 money manager in Chicago in 2007. The firm works with ultra-affluent private investors, families, and entrepreneurs to provide innovative and sophisticated wealth management solutions. With more than $17 billion in private wealth assets as of December 31, 2007, the firm’s advisors deliver both the resources of a large, full-service firm and the hands-on approach of a sophisticated boutique.
“John will be an instrumental member of our leadership team. His background serving a sophisticated client base, combined with his exceptional leadership, will be a great addition to the existing talent in our Private Wealth Management business,” said Ms. Seitz. “While we manage portfolios for clients in all 50 states and internationally, we have long-standing and deep client relationships in our headquarters city of Chicago; and we are focused on growing this valuable part of our Investment Management franchise.” All of the firm’s money managers and research analysts are based in Chicago, allowing for rare and valuable daily interaction and strategic portfolio construction and management.
Ms. Seitz has made several high-profile leadership hires in the past year as part of building her senior management ranks, including Patrick Sheppard from Mellon Financial/The Boston Group; Tom Ross from bfinance in the United Kingdom; and now John Brennan from Bank of America.
About William Blair & Company
William Blair & Company, L.L.C. is a Chicago-based investment firm offering investment banking, asset management, equity research, institutional and private brokerage, and private capital to individual, institutional, and issuing clients. Since 1935, we have been committed to helping clients achieve their financial objectives. As an independent, employee-owned firm, our philosophy is to serve our clients' interests first and foremost. We place a high value on the enduring nature of our client relationships, the quality of our products and services, and the continuity and integrity of our people. William Blair & Company’s offices include Chicago, Boston, London, New York, San Francisco, Shanghai, Tokyo, and Zurich. For more information, please visit www.williamblair.com.
About William Blair Investment Management
William Blair Investment Management is the money management operation of William Blair & Company, L.L.C., consisting of the institutional, mutual fund, high net worth, and private wealth management businesses. With $58 billion in assets (as of December 31, 2007), William Blair Investment Management provides customized and structured portfolios for cash, domestic fixed income, and domestic, international, and global equities. The group also acts as the investment advisor to a family of 17 open-end mutual funds. More information about the William Blair Funds is available at www.williamblairfunds.com.
Disclosure:
1. Barron’s,”2007 Top Wealth Managers in the U.S.,” and “A Perfect Fit,” 10/22/07. Ranked by assets under management for individual clients with accounts of $1 million or more, as of June 30, 2006.
2. Crain’s Chicago Business, “Chicago’s Largest Money Managers,” 8/27/07. Ranked by total assets managed as of June 30, 2007. Assets managed out of the Chicago office only. List includes firms with offices in Cook, DuPage, Kane, Lake, McHenry, and Will counties that broke out locally managed assets.
©William Blair & Company, L.L.C., distributor. 02/08
Contacts
William Blair & Company, L.L.C.
Tony Zimmer
312-364-8611
tzimmer@williamblair.com
Head of Private Wealth Management
22 Feb 2008
CHICAGO--(BUSINESS WIRE)--William Blair & Company today announced that John Brennan will join the firm as head of Private Wealth Management, a new position. Mr. Brennan most recently was president of Bank of America Illinois and a LaSalle Bank transition leader. Mr. Brennan will report directly to Michelle R. Seitz, CFA, head of Investment Management and a member of the firm’s executive committee.
John Brennan, a 22-year veteran of the financial services industry, has extensive experience in market strategy development and execution. In his role as regional president of Bank of America’s Private Bank for the central region, Mr. Brennan was responsible for a $52 billion portfolio in as many as 15 states and a staff of approximately 700 professional-level associates. He received both his undergraduate and MBA degrees from Vanderbilt University, Owen Graduate School of Management. Mr. Brennan is extensively involved in civic and community organizations, including the Shedd Aquarium Board of Trustees, PBS’s Window to the World, Chicago Library Foundation, and the Lyric Opera Board.
William Blair & Company is increasingly known for its prominence in the asset management business, with a global footprint of more than $58 billion as of December 31, 2007. The firm also has been a well-respected provider of private wealth management services for more than 70 years, recognized as one of the top 30 private banks by Barron’s¹ since 2000 (the first year of the ranking), and ranked by Crain’s² as the No. 7 money manager in Chicago in 2007. The firm works with ultra-affluent private investors, families, and entrepreneurs to provide innovative and sophisticated wealth management solutions. With more than $17 billion in private wealth assets as of December 31, 2007, the firm’s advisors deliver both the resources of a large, full-service firm and the hands-on approach of a sophisticated boutique.
“John will be an instrumental member of our leadership team. His background serving a sophisticated client base, combined with his exceptional leadership, will be a great addition to the existing talent in our Private Wealth Management business,” said Ms. Seitz. “While we manage portfolios for clients in all 50 states and internationally, we have long-standing and deep client relationships in our headquarters city of Chicago; and we are focused on growing this valuable part of our Investment Management franchise.” All of the firm’s money managers and research analysts are based in Chicago, allowing for rare and valuable daily interaction and strategic portfolio construction and management.
Ms. Seitz has made several high-profile leadership hires in the past year as part of building her senior management ranks, including Patrick Sheppard from Mellon Financial/The Boston Group; Tom Ross from bfinance in the United Kingdom; and now John Brennan from Bank of America.
About William Blair & Company
William Blair & Company, L.L.C. is a Chicago-based investment firm offering investment banking, asset management, equity research, institutional and private brokerage, and private capital to individual, institutional, and issuing clients. Since 1935, we have been committed to helping clients achieve their financial objectives. As an independent, employee-owned firm, our philosophy is to serve our clients' interests first and foremost. We place a high value on the enduring nature of our client relationships, the quality of our products and services, and the continuity and integrity of our people. William Blair & Company’s offices include Chicago, Boston, London, New York, San Francisco, Shanghai, Tokyo, and Zurich. For more information, please visit www.williamblair.com.
About William Blair Investment Management
William Blair Investment Management is the money management operation of William Blair & Company, L.L.C., consisting of the institutional, mutual fund, high net worth, and private wealth management businesses. With $58 billion in assets (as of December 31, 2007), William Blair Investment Management provides customized and structured portfolios for cash, domestic fixed income, and domestic, international, and global equities. The group also acts as the investment advisor to a family of 17 open-end mutual funds. More information about the William Blair Funds is available at www.williamblairfunds.com.
Disclosure:
1. Barron’s,”2007 Top Wealth Managers in the U.S.,” and “A Perfect Fit,” 10/22/07. Ranked by assets under management for individual clients with accounts of $1 million or more, as of June 30, 2006.
2. Crain’s Chicago Business, “Chicago’s Largest Money Managers,” 8/27/07. Ranked by total assets managed as of June 30, 2007. Assets managed out of the Chicago office only. List includes firms with offices in Cook, DuPage, Kane, Lake, McHenry, and Will counties that broke out locally managed assets.
©William Blair & Company, L.L.C., distributor. 02/08
Contacts
William Blair & Company, L.L.C.
Tony Zimmer
312-364-8611
tzimmer@williamblair.com
WisdomTree India Earnings ETF Lists on NYSE Arca
WisdomTree India Earnings ETF Lists on NYSE Arca
-Industry’s First ETF Designed to Track Index of 150 Local Indian Securities-
22 Feb 2008
NEW YORK--(BUSINESS WIRE)--NYSE Euronext (NYSE Euronext: NYX) today announced that the WisdomTree India Earnings Fund listed under the ticker symbol EPI began trading on NYSE Arca. EPI is designed to track the performance of approximately 150 Indian companies included in the WisdomTree India Earnings Index on the annual index screening date. As the first ETF to offer pure exposure to local Indian securities, the WisdomTree India Earnings Fund grants investors access to a growing marketplace.
"We are very excited to add another innovative WisdomTree ETF to NYSE Arca, the first India ETF, EPI, to track local Indian securities, many of which are also listing on NYSE Euronext" said Senior Vice President, Exchange Traded Funds and Indexes, Lisa Dallmer. "Today's listing is consistent with our view on the growing importance of Indian companies and the capital formation process in India demonstrated by our investments in Multi Commodity Exchange of India (MCX) and India’s National Stock Exchange (NSE) to advance our competitive position in India and throughout the region"
Including today’s listing, NYSE Arca markets have 245 primary ETF and 27 ETNs listings and trade all other eligible ETFs on a UTP basis. In 2007, NYSE Arca added 122 new ETFs and ETNs to its roster of primary listings, including a record 101 IPOs. For the full-year 2007, NYSE Arca was the primary listing exchange of choice with a total of 261 ETFs and ETNs listed and $340 billion assets under management.
About NYSE Euronext
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. NYSE Euronext's nearly 4,000 listed companies represent a combined $30.5 trillion/€20.9 trillion in total global market capitalization (as of Dec. 31, 2007), more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $141 billion/€103 billion (as of Dec. 31, 2007), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com.
Contacts
NYSE Euronext
Stephanie Scotto, 212-656-4896
sscotto@nyx.com
-Industry’s First ETF Designed to Track Index of 150 Local Indian Securities-
22 Feb 2008
NEW YORK--(BUSINESS WIRE)--NYSE Euronext (NYSE Euronext: NYX) today announced that the WisdomTree India Earnings Fund listed under the ticker symbol EPI began trading on NYSE Arca. EPI is designed to track the performance of approximately 150 Indian companies included in the WisdomTree India Earnings Index on the annual index screening date. As the first ETF to offer pure exposure to local Indian securities, the WisdomTree India Earnings Fund grants investors access to a growing marketplace.
"We are very excited to add another innovative WisdomTree ETF to NYSE Arca, the first India ETF, EPI, to track local Indian securities, many of which are also listing on NYSE Euronext" said Senior Vice President, Exchange Traded Funds and Indexes, Lisa Dallmer. "Today's listing is consistent with our view on the growing importance of Indian companies and the capital formation process in India demonstrated by our investments in Multi Commodity Exchange of India (MCX) and India’s National Stock Exchange (NSE) to advance our competitive position in India and throughout the region"
Including today’s listing, NYSE Arca markets have 245 primary ETF and 27 ETNs listings and trade all other eligible ETFs on a UTP basis. In 2007, NYSE Arca added 122 new ETFs and ETNs to its roster of primary listings, including a record 101 IPOs. For the full-year 2007, NYSE Arca was the primary listing exchange of choice with a total of 261 ETFs and ETNs listed and $340 billion assets under management.
About NYSE Euronext
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. NYSE Euronext's nearly 4,000 listed companies represent a combined $30.5 trillion/€20.9 trillion in total global market capitalization (as of Dec. 31, 2007), more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $141 billion/€103 billion (as of Dec. 31, 2007), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com.
Contacts
NYSE Euronext
Stephanie Scotto, 212-656-4896
sscotto@nyx.com
Ruth Graf-Urasaki Joins Bickmore Risk Services & Consulting
Industry Leader Ruth Graf-Urasaki Joins Bickmore Risk Services & Consulting (BRS)
Risk Management Firm’s Litigation Management Team Continues on Strategic Grow Path
22 Feb 2008
SACRAMENTO, Calif.--(BUSINESS WIRE)--Bickmore Risk Services & Consulting (BRS), one of the largest and fastest growing independent risk management consulting firms in the United States, announced today industry leader Ruth Graf-Urasaki has joined its Litigation Management team. Recognized for her strong professional competence and real-world experience, the addition of Ms. Graf-Urasaki supports BRS’ ongoing commitment to provide unmatched expertise and the seamless transfer of knowledge to its public and private sector clients.
A highly experienced trial attorney who has represented both employees and employers over the course of her career, Ms. Graf-Urasaki specializes in labor and employment relations law. Her areas of practice include representing clients in state and federal court employment litigation, administrative procedures before the Equal Employment Opportunity Commission and Fair Employment and Housing Commission, disciplinary matters, and administrative hearings. She is considered an industry expert in all aspects of discrimination and harassment, the Americans with Disabilities Act, federal constitutional litigation, police discipline, and Police Officers Bill of Rights issues.
Prior to joining BRS, Ruth was with Liebert Cassidy Whitmore, where she handled cases in both state and federal court and in various administrative venues. Her clients included cities, counties, police and fire departments, community college and K-12 districts, as well as special districts.
A popular public speaker, Ms. Graf-Urasaki often presents workshops and is asked to speak before employer groups throughout California on a wide variety of labor and employment law issues, including preventing harassment, discrimination and retaliation, disciplinary issues, performance management and evaluations, workplace violence, workplace investigations, and disaster preparedness.
Ms. Graf-Urasaki is a Phi Beta Kappa graduate of the University of California, Berkeley, and of the University of Wisconsin Law School.
About Bickmore Risk Services & Consulting (BRS)
BRS is the largest, independent non-brokerage affiliated risk management consulting firm in the western United States, and the second largest in the nation. BRS clients include both public and private entities nationwide. The firm offers risk management consulting, group formation and administration, actuarial, risk control, claims oversight and employment practices services. BRS is staffed with more than 120 professional and support staff, including credentialed safety professionals, experienced pool administration managers, CPAs, attorneys, actuaries, and certified workers' compensation professionals. Its corporate headquarters is located in Sacramento, California. The firm has offices in Long Beach, California; Albany, New York; Portland, Oregon; Santa Fe, New Mexico; and Charlotte, North Carolina. For more information, please visit www.brsrisk.com.
Contacts
Bickmore Risk Services & Consulting
Mady Gorrell, +1-916-244-1173
mgorrell@brsrisk.com
www.brsrisk.com
Risk Management Firm’s Litigation Management Team Continues on Strategic Grow Path
22 Feb 2008
SACRAMENTO, Calif.--(BUSINESS WIRE)--Bickmore Risk Services & Consulting (BRS), one of the largest and fastest growing independent risk management consulting firms in the United States, announced today industry leader Ruth Graf-Urasaki has joined its Litigation Management team. Recognized for her strong professional competence and real-world experience, the addition of Ms. Graf-Urasaki supports BRS’ ongoing commitment to provide unmatched expertise and the seamless transfer of knowledge to its public and private sector clients.
A highly experienced trial attorney who has represented both employees and employers over the course of her career, Ms. Graf-Urasaki specializes in labor and employment relations law. Her areas of practice include representing clients in state and federal court employment litigation, administrative procedures before the Equal Employment Opportunity Commission and Fair Employment and Housing Commission, disciplinary matters, and administrative hearings. She is considered an industry expert in all aspects of discrimination and harassment, the Americans with Disabilities Act, federal constitutional litigation, police discipline, and Police Officers Bill of Rights issues.
Prior to joining BRS, Ruth was with Liebert Cassidy Whitmore, where she handled cases in both state and federal court and in various administrative venues. Her clients included cities, counties, police and fire departments, community college and K-12 districts, as well as special districts.
A popular public speaker, Ms. Graf-Urasaki often presents workshops and is asked to speak before employer groups throughout California on a wide variety of labor and employment law issues, including preventing harassment, discrimination and retaliation, disciplinary issues, performance management and evaluations, workplace violence, workplace investigations, and disaster preparedness.
Ms. Graf-Urasaki is a Phi Beta Kappa graduate of the University of California, Berkeley, and of the University of Wisconsin Law School.
About Bickmore Risk Services & Consulting (BRS)
BRS is the largest, independent non-brokerage affiliated risk management consulting firm in the western United States, and the second largest in the nation. BRS clients include both public and private entities nationwide. The firm offers risk management consulting, group formation and administration, actuarial, risk control, claims oversight and employment practices services. BRS is staffed with more than 120 professional and support staff, including credentialed safety professionals, experienced pool administration managers, CPAs, attorneys, actuaries, and certified workers' compensation professionals. Its corporate headquarters is located in Sacramento, California. The firm has offices in Long Beach, California; Albany, New York; Portland, Oregon; Santa Fe, New Mexico; and Charlotte, North Carolina. For more information, please visit www.brsrisk.com.
Contacts
Bickmore Risk Services & Consulting
Mady Gorrell, +1-916-244-1173
mgorrell@brsrisk.com
www.brsrisk.com
Thursday, February 21, 2008
Franklin Templeton Investments Acquires 49% Stake in Vietnamese Investment Management Firm
Franklin Templeton Investments Enters Strategic Relationship with Vietcombank Fund Management
Leading Global Asset Manager Acquires 49% Stake in Vietnamese Investment Management Firm
20 Feb 2008
HANOI, Vietnam & SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Resources, Inc. (operating as Franklin Templeton Investments) (NYSE: BEN) of San Mateo, CA, USA, has announced the acquisition of a 49 percent stake in Vietcombank Fund Management (“VCBF”), an investment management firm currently focused on private equity investment in Vietnam. The remaining 51% of VCBF will continue to be owned by Vietcombank, the Bank for Foreign Trade of Vietnam.
“In building Franklin Templeton’s global business, a key approach we have employed has been to make strategic investments in local companies around the world in order to leverage the expertise of well-qualified investment and financial services professionals who have first-hand knowledge of their domestic markets,” said Greg Johnson, president and chief executive officer of Franklin Resources, Inc. “We see tremendous opportunity to grow our business by extending our local asset management network to Vietnam and by partnering with Vietcombank to introduce our successful investment funds to Vietnamese investors. As more middle class affluence comes on-line in countries where disciplined savers are eager to become investors, Franklin Templeton wants to be a provider of choice with its broad spectrum of investment solutions.”
Franklin Templeton’s strategic relationship with VCBF marks its first joint venture in Vietnam and provides an opportunity to build a local asset management presence there. Franklin Templeton also intends to partner with Vietcombank to make its investment funds available, in time, to Vietnamese investors. Approximately 9% of Franklin Templeton’s assets under management are currently from investors in the Asia Pacific region, and Vietnam will be a key area of focus in expanding the company’s penetration in Asia. Vietcombank is an excellent partner in that it has the invaluable local expertise and staff on the ground that will be integral to such an expansion.
“We are extremely pleased with this alliance with Franklin Templeton,” said Mr. Pham Quang Dzung, Chairman of Vietcombank Asset Management. “Our aim is to make Vietcombank Fund Management the number one asset management company in Vietnam and this partnership with Franklin Templeton is a critical step towards that goal."
Dennis Lim, co-CEO and portfolio manager of Templeton Asset Management, Ltd. (“TAML”), and Mark Browning, co-CEO of TAML and managing director, Asia for Franklin Templeton International, have been named as members of VCBF’s Board of Directors.
“We see great opportunity in Vietnam with rising income levels among Vietnamese investors and a low penetration rate for mutual fund investments,” said Browning. “With Vietnam’s average growth rate of approximately 7% over the last 10 years, we see a bright future for expanding our pan-Asia business to serve investors in Vietnam.”
Franklin Templeton established its presence in the Asia Pacific region in the late 1980s and today has offices in China (mainland and Hong Kong), India, Japan, Korea, Singapore and Australia. In addition, the venture will expand Franklin Templeton’s local asset management capabilities – which currently include Brazil, Canada, China, India, Japan, Korea and UAE.
Franklin Resources, Inc. [NYSE:BEN], is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust investment teams. The San Mateo, CA-based company has 60 years of investment experience and over US$605 billion in assets under management as of January 31, 2008. For more information, please visit franklintempleton.com.
Leading Global Asset Manager Acquires 49% Stake in Vietnamese Investment Management Firm
20 Feb 2008
HANOI, Vietnam & SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Resources, Inc. (operating as Franklin Templeton Investments) (NYSE: BEN) of San Mateo, CA, USA, has announced the acquisition of a 49 percent stake in Vietcombank Fund Management (“VCBF”), an investment management firm currently focused on private equity investment in Vietnam. The remaining 51% of VCBF will continue to be owned by Vietcombank, the Bank for Foreign Trade of Vietnam.
“In building Franklin Templeton’s global business, a key approach we have employed has been to make strategic investments in local companies around the world in order to leverage the expertise of well-qualified investment and financial services professionals who have first-hand knowledge of their domestic markets,” said Greg Johnson, president and chief executive officer of Franklin Resources, Inc. “We see tremendous opportunity to grow our business by extending our local asset management network to Vietnam and by partnering with Vietcombank to introduce our successful investment funds to Vietnamese investors. As more middle class affluence comes on-line in countries where disciplined savers are eager to become investors, Franklin Templeton wants to be a provider of choice with its broad spectrum of investment solutions.”
Franklin Templeton’s strategic relationship with VCBF marks its first joint venture in Vietnam and provides an opportunity to build a local asset management presence there. Franklin Templeton also intends to partner with Vietcombank to make its investment funds available, in time, to Vietnamese investors. Approximately 9% of Franklin Templeton’s assets under management are currently from investors in the Asia Pacific region, and Vietnam will be a key area of focus in expanding the company’s penetration in Asia. Vietcombank is an excellent partner in that it has the invaluable local expertise and staff on the ground that will be integral to such an expansion.
“We are extremely pleased with this alliance with Franklin Templeton,” said Mr. Pham Quang Dzung, Chairman of Vietcombank Asset Management. “Our aim is to make Vietcombank Fund Management the number one asset management company in Vietnam and this partnership with Franklin Templeton is a critical step towards that goal."
Dennis Lim, co-CEO and portfolio manager of Templeton Asset Management, Ltd. (“TAML”), and Mark Browning, co-CEO of TAML and managing director, Asia for Franklin Templeton International, have been named as members of VCBF’s Board of Directors.
“We see great opportunity in Vietnam with rising income levels among Vietnamese investors and a low penetration rate for mutual fund investments,” said Browning. “With Vietnam’s average growth rate of approximately 7% over the last 10 years, we see a bright future for expanding our pan-Asia business to serve investors in Vietnam.”
Franklin Templeton established its presence in the Asia Pacific region in the late 1980s and today has offices in China (mainland and Hong Kong), India, Japan, Korea, Singapore and Australia. In addition, the venture will expand Franklin Templeton’s local asset management capabilities – which currently include Brazil, Canada, China, India, Japan, Korea and UAE.
Franklin Resources, Inc. [NYSE:BEN], is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust investment teams. The San Mateo, CA-based company has 60 years of investment experience and over US$605 billion in assets under management as of January 31, 2008. For more information, please visit franklintempleton.com.
Retirees may outlive their savings by relying on SWPs
Study: New Generation of Retirement Products Provides Income to Last a Lifetime
Ernst & Young finds that retirees may outlive their savings by relying on systematic withdrawal programs
20 Feb 2008
NEWARK, N.J.--(BUSINESS WIRE)--Retirees who rely solely on target date funds to provide lifetime income may outlive their money, according to research and analysis from Ernst & Young. The research demonstrates a need for products that provide guaranteed income streams—enough to last for 20 to 30, or even more, years in retirement, according to a report about that research released today by Prudential Financial, Inc. (NYSE: PRU).
Retirement Income: The Value of Guarantees, examines current methods of providing retirement income within a 401(k) plan using Ernst & Young’s proprietary Retirement Analytics™ model to compare target date funds with Prudential’s guaranteed withdrawal benefit solution, Prudential IncomeFlex®.
“Target date funds are very popular right now in 401(k) and other group retirement plans because they provide a simple, set it and forget it approach to saving for retirement,” said Christine Marcks, president of Prudential Retirement. “But systematic withdrawal programs used with target date funds don’t address the risk of running out of money in retirement. As this important analysis reveals, that risk is still very real. On the other hand, guaranteed solutions like Prudential’s IncomeFlex— which use investment strategies similar to many target date funds — provide income to last a lifetime, often with money left for heirs.”
Research simulations show that relying on target date funds in conjunction with systematic withdrawal programs may exhaust savings one-third of the time when withdrawing at an inflation-adjusted rate of 5 percent of the initial balance. Simulations show that married couples may run out of money in more than half of the scenarios.
In contrast, the solution offered by IncomeFlex allows retirees to maintain income throughout their lifetimes, even if a 5 percent withdrawal rate depletes an individual’s account value. Retirees never outlive their income when protected by IncomeFlex in scenarios tested by Ernst & Young’s research, which was commissioned by Prudential.
“Ernst & Young’s unbiased research and analysis helps substantiate our conclusions that IncomeFlex redefines retirement. Employees can finally inoculate their 401(k) plans with a guarantee that protects their retirement income,” said Marcks. “With IncomeFlex, employees can invest aggressively, knowing their income has protection from market downturns and the opportunity to capture a higher level of that income. People no longer have to trade off between choosing how much income they receive and how long it will last.”
Among other key findings:
Retirees need lifetime solutions: Systematic withdrawal programs from target date funds are plagued with failures, causing retirees to outlive their retirement income.
Guarantees protect against market downturns: IncomeFlex protects retirees’ income streams from poor market performance. This also applies to the years leading up to retirement, allowing pre-retirees to plan a minimum income level, with certainty.
Retirees can capture market upswings: IncomeFlex allows greater participation in market upswings because its protection features provide the flexibility to invest more aggressively. IncomeFlex asset allocations remain constant, while target date asset allocations become more conservative over time.
Both solutions frequently leave money for heirs: Simulations show that the inheritance a retiree leaves behind with IncomeFlex was higher on average than target date funds when retirees systematically withdraw income from target date funds at a rate of 5 percent. However, retirees may be able to leave more money for heirs when they withdraw income from target date funds at rates of 3 percent or 4 percent.
Ernst & Young used a Monte Carlo simulation—factoring in market performance, inflation and mortality—to generate 2,000 different scenarios for each case study. Results of the research are based on averages across all scenarios.
The full report is available at www.prudential.com/retirementincome.
Ernst & Young finds that retirees may outlive their savings by relying on systematic withdrawal programs
20 Feb 2008
NEWARK, N.J.--(BUSINESS WIRE)--Retirees who rely solely on target date funds to provide lifetime income may outlive their money, according to research and analysis from Ernst & Young. The research demonstrates a need for products that provide guaranteed income streams—enough to last for 20 to 30, or even more, years in retirement, according to a report about that research released today by Prudential Financial, Inc. (NYSE: PRU).
Retirement Income: The Value of Guarantees, examines current methods of providing retirement income within a 401(k) plan using Ernst & Young’s proprietary Retirement Analytics™ model to compare target date funds with Prudential’s guaranteed withdrawal benefit solution, Prudential IncomeFlex®.
“Target date funds are very popular right now in 401(k) and other group retirement plans because they provide a simple, set it and forget it approach to saving for retirement,” said Christine Marcks, president of Prudential Retirement. “But systematic withdrawal programs used with target date funds don’t address the risk of running out of money in retirement. As this important analysis reveals, that risk is still very real. On the other hand, guaranteed solutions like Prudential’s IncomeFlex— which use investment strategies similar to many target date funds — provide income to last a lifetime, often with money left for heirs.”
Research simulations show that relying on target date funds in conjunction with systematic withdrawal programs may exhaust savings one-third of the time when withdrawing at an inflation-adjusted rate of 5 percent of the initial balance. Simulations show that married couples may run out of money in more than half of the scenarios.
In contrast, the solution offered by IncomeFlex allows retirees to maintain income throughout their lifetimes, even if a 5 percent withdrawal rate depletes an individual’s account value. Retirees never outlive their income when protected by IncomeFlex in scenarios tested by Ernst & Young’s research, which was commissioned by Prudential.
“Ernst & Young’s unbiased research and analysis helps substantiate our conclusions that IncomeFlex redefines retirement. Employees can finally inoculate their 401(k) plans with a guarantee that protects their retirement income,” said Marcks. “With IncomeFlex, employees can invest aggressively, knowing their income has protection from market downturns and the opportunity to capture a higher level of that income. People no longer have to trade off between choosing how much income they receive and how long it will last.”
Among other key findings:
Retirees need lifetime solutions: Systematic withdrawal programs from target date funds are plagued with failures, causing retirees to outlive their retirement income.
Guarantees protect against market downturns: IncomeFlex protects retirees’ income streams from poor market performance. This also applies to the years leading up to retirement, allowing pre-retirees to plan a minimum income level, with certainty.
Retirees can capture market upswings: IncomeFlex allows greater participation in market upswings because its protection features provide the flexibility to invest more aggressively. IncomeFlex asset allocations remain constant, while target date asset allocations become more conservative over time.
Both solutions frequently leave money for heirs: Simulations show that the inheritance a retiree leaves behind with IncomeFlex was higher on average than target date funds when retirees systematically withdraw income from target date funds at a rate of 5 percent. However, retirees may be able to leave more money for heirs when they withdraw income from target date funds at rates of 3 percent or 4 percent.
Ernst & Young used a Monte Carlo simulation—factoring in market performance, inflation and mortality—to generate 2,000 different scenarios for each case study. Results of the research are based on averages across all scenarios.
The full report is available at www.prudential.com/retirementincome.
Report - Opportunities in the China Equity Market
Opportunities in the China Equity Investment Market
20 Feb 2008
NEW YORK--(BUSINESS WIRE)--Reportlinker.com announces that a new market research report related to the Financial services industry is available in its catalogue.
China Equity Investment Report, 2007-2008
To order this report:
www.reportlinker.com/p078009/2008/02/ China-Equity-Investment-Report-2007-2008.html
China's equity investment has developed much rapidly in the past several years. In 2002, China's total equity investment was only US$534 million, but it already reached US$2.18 billion in 2006.
From January to September of 2007, the investment of the private equity fund in Mainland China was on the upward trend. The accumulative number of companies, in which investment was made, reached 126 and the accumulative value of the investment totaled US$8.37 billion, up 3.3% compared with the same period of previous year.
47 private equity funds completed their fundraising in the first three quarters of 2007, up 74% year on year. The total amount was US$23.05 billion, 3.36 times the firgure in the same period of the previous year.
In the first three quarters of 2007, 34 companies invested by private equity funds and venture capital firms completed their initial public offering or IPO and raised US$6.3 billion.
ResearchInChina collected ten typical cases of China equity investment in 2007 based on the investment amount.
According to the research on the cases and the authoritative statistics issued by the listed companies and institutions, the report analysizes the status quo, the policy environment, the investment cases and the key enterprises' development of China equity investment industry in 2007. It makes a detailed summary of 25 active equity investment companies in China and their investment cases. Furthermore, the report also forecasts the developing trend of the industry in 2008 by analysizing the development situation of China equity investment in 2007 and before 2007.
1 Brief Introduction of Equity Investment
1.1 Definition
1.2 Classification
1.2.1 Risk investment
1.2.2 Private equity investment
1.3 Development of Chinese equity investment before 2007
2 China Equity Investment in 2007
2.1 Operation of China equity investment, 2007
2.1.1 Overview of Private equity investment, 2007
2.1.2 Overview of fundraising by private equity funds, 2007
2.1.3 Operation of venture capital, 2007
2.1.4 Statistics of IPOs by Chinese companies with investment from venture capital firms and private equity funds, 2007
2.2 Ranking list of China equity investment, 2007
2.2.1 Ranking list of China venture capital firms, 2007
2.2.2 Ranking list of China private equity funds, 2007
2.3 Major events of China venture capital, 2007
2.4 Ten typical cases of China equity investment, 2007
3 Analysis of Macro Environment of China Equity Investment
3.1 Environment of equity investment market
3.1.1 Analysis of monetory policy
3.1.2 Development of financial investment
3.1.3 Analysis of withdrawal environment
3.2 Policy environment of equity investment
4 Analysis of Status Quo of China Equity Investment, 2007
4.1 Industrial distributions
4.2 Analysis of investment strategy
4.3 Withdrawal situation
5 Comparison between Domestic Capital and Foreign Capital of China Equity Investment
6 Analysis of Key Companies' Operation in China, 2007
6.1 Carlyle Group
6.2 IDG
6.3 CDH Investments
6.4 SAIF Partners
6.5 Legend Capital Ltd
6.6 Sequoia Capital China
6.7 Merrill Lynch
6.8 Warburg Pincus
6.9 Granite Global Ventures(GGV)
6.10 DFJ DragonFund China(DFJ)
6.11 Goldman Sachs (Asia) Ltd.
6.12 SIG
6.13 JAFCO
6.14 Intel Capital
6.15 Chengwei Ventures
6.16 TEMASEK
6.17 Morgan Stanley
6.18 Deutsche Bank
6.19 Eplanet Ventures
6.20 Blue Ridge Capital
6.21 Qiming Venture
6.22 Capital Today
6.23 Shenzhen Capital Group Co., Ltd.
6.24 AsiaVest Partners, TCW/YFY Ltd.
6.25 WI Harper Group
7 Trend and Prospect of China Equity Investment, 2008
7.1 Launch of the second board and its influence
7.2 Changing trend of withdrawal forms
7.3 Monetory policy and its influence
7.4 Changing trend of regional investment
Chart: Fundraising by private equity fund in each quarter, which could be invested in Mainland China, 2006-2007 (unit:US$ million)
Chart: Statistics of fundraising, Jan.-Sep. 2007 ( unit: USD million)
Chart: The number of Chinese companies invested by private equity funds
and venture capital firms and the total amount of fund raised by these companies in the first three quarters in 2007 (units: number & US$ million)
Chart: China's wealthy people and changing trend of their assets
Chart: Distribution of private equity funds' investment strategy in 3Q, 2007 (unit: number)
Chart: Distributions of private equity funds' investment strategy in 3Q, 2007 (unit: USD million)
Chart: Distribution of inudstries, from which private equity funds withdrew in 3Q, 2007 (unit: number)
Chart: Withdrawal forms of private equity funds in 3Q, 2007
Chart: Withdrawal froms of private equtiy funds in Chinese and American Markets
Table: Increase in investment amount of China equity investment market, 2002-2006
Table: Market shares of China equity investment industry, 2006
Table: Total quarterly investment by private equity funds in 2006 and the first three quarters of 2007
Table: Comparison of quarterly growth in total quarterly investment by private equity funds in 2006 and the first tbree quarters of 2007
Table: Top 50 of China's venture capital firms in 2007
Table: Top 30 of China'd private equity investment companies, 2007
Table: China's top ten cases of equity investment in 2007
Table: Adjustments to reserve requirement rate by the central bank in the past years
Table: Policies and regulations regarding equity investment, 1985-2006
Table: Distribution of industries invested by private equity funds in 3Q, 2007
Table: Comparison of investment between Chinese and oversease companies in the first three quarters of 2007
Table: Situation of Carlyle Group's investment in China, 2007
Table: Cases of IDG’s investment in China, 2007
Table: Cases of CDH Investment's investment in China, 2007
Table: Cases of SAIF Partner's investment in China, 2007
Table: Cases of Legend Capital's investment in China, 2007
Table: Cases of Sequoia Capital's investment in China, 2007
Table: Cases of Merrill Lynch's investment in China, 2007
Table: Cases of Warburg Pincus investment in China, 2007
Table: Cases of GGV investment in China, 2007
Table: Cases of DFJ investment in China, 2007
Table: Cases of Goldman Sachs (Asia) investment in China, 2007
Table: Cases of SIG investment in China, 2007
Table: Cases of JAFCO investment in China, 2007
Table: Cases of Intel Capital investment in China, 2007
Table: Cases of Chengwei Ventures investment in China, 2007
Table: Cases of TEMASEK investment in China, 2007
Table: Cases of Morgan Stanley investment in China, 2007
Table: Cases of Deutsche Bank investment in China, 2007
China Equity Investment Report, 2007-2008
To order this report:
www.reportlinker.com/p078009/2008/02/ China-Equity-Investment-Report-2007-2008.html
20 Feb 2008
NEW YORK--(BUSINESS WIRE)--Reportlinker.com announces that a new market research report related to the Financial services industry is available in its catalogue.
China Equity Investment Report, 2007-2008
To order this report:
www.reportlinker.com/p078009/2008/02/ China-Equity-Investment-Report-2007-2008.html
China's equity investment has developed much rapidly in the past several years. In 2002, China's total equity investment was only US$534 million, but it already reached US$2.18 billion in 2006.
From January to September of 2007, the investment of the private equity fund in Mainland China was on the upward trend. The accumulative number of companies, in which investment was made, reached 126 and the accumulative value of the investment totaled US$8.37 billion, up 3.3% compared with the same period of previous year.
47 private equity funds completed their fundraising in the first three quarters of 2007, up 74% year on year. The total amount was US$23.05 billion, 3.36 times the firgure in the same period of the previous year.
In the first three quarters of 2007, 34 companies invested by private equity funds and venture capital firms completed their initial public offering or IPO and raised US$6.3 billion.
ResearchInChina collected ten typical cases of China equity investment in 2007 based on the investment amount.
According to the research on the cases and the authoritative statistics issued by the listed companies and institutions, the report analysizes the status quo, the policy environment, the investment cases and the key enterprises' development of China equity investment industry in 2007. It makes a detailed summary of 25 active equity investment companies in China and their investment cases. Furthermore, the report also forecasts the developing trend of the industry in 2008 by analysizing the development situation of China equity investment in 2007 and before 2007.
1 Brief Introduction of Equity Investment
1.1 Definition
1.2 Classification
1.2.1 Risk investment
1.2.2 Private equity investment
1.3 Development of Chinese equity investment before 2007
2 China Equity Investment in 2007
2.1 Operation of China equity investment, 2007
2.1.1 Overview of Private equity investment, 2007
2.1.2 Overview of fundraising by private equity funds, 2007
2.1.3 Operation of venture capital, 2007
2.1.4 Statistics of IPOs by Chinese companies with investment from venture capital firms and private equity funds, 2007
2.2 Ranking list of China equity investment, 2007
2.2.1 Ranking list of China venture capital firms, 2007
2.2.2 Ranking list of China private equity funds, 2007
2.3 Major events of China venture capital, 2007
2.4 Ten typical cases of China equity investment, 2007
3 Analysis of Macro Environment of China Equity Investment
3.1 Environment of equity investment market
3.1.1 Analysis of monetory policy
3.1.2 Development of financial investment
3.1.3 Analysis of withdrawal environment
3.2 Policy environment of equity investment
4 Analysis of Status Quo of China Equity Investment, 2007
4.1 Industrial distributions
4.2 Analysis of investment strategy
4.3 Withdrawal situation
5 Comparison between Domestic Capital and Foreign Capital of China Equity Investment
6 Analysis of Key Companies' Operation in China, 2007
6.1 Carlyle Group
6.2 IDG
6.3 CDH Investments
6.4 SAIF Partners
6.5 Legend Capital Ltd
6.6 Sequoia Capital China
6.7 Merrill Lynch
6.8 Warburg Pincus
6.9 Granite Global Ventures(GGV)
6.10 DFJ DragonFund China(DFJ)
6.11 Goldman Sachs (Asia) Ltd.
6.12 SIG
6.13 JAFCO
6.14 Intel Capital
6.15 Chengwei Ventures
6.16 TEMASEK
6.17 Morgan Stanley
6.18 Deutsche Bank
6.19 Eplanet Ventures
6.20 Blue Ridge Capital
6.21 Qiming Venture
6.22 Capital Today
6.23 Shenzhen Capital Group Co., Ltd.
6.24 AsiaVest Partners, TCW/YFY Ltd.
6.25 WI Harper Group
7 Trend and Prospect of China Equity Investment, 2008
7.1 Launch of the second board and its influence
7.2 Changing trend of withdrawal forms
7.3 Monetory policy and its influence
7.4 Changing trend of regional investment
Chart: Fundraising by private equity fund in each quarter, which could be invested in Mainland China, 2006-2007 (unit:US$ million)
Chart: Statistics of fundraising, Jan.-Sep. 2007 ( unit: USD million)
Chart: The number of Chinese companies invested by private equity funds
and venture capital firms and the total amount of fund raised by these companies in the first three quarters in 2007 (units: number & US$ million)
Chart: China's wealthy people and changing trend of their assets
Chart: Distribution of private equity funds' investment strategy in 3Q, 2007 (unit: number)
Chart: Distributions of private equity funds' investment strategy in 3Q, 2007 (unit: USD million)
Chart: Distribution of inudstries, from which private equity funds withdrew in 3Q, 2007 (unit: number)
Chart: Withdrawal forms of private equity funds in 3Q, 2007
Chart: Withdrawal froms of private equtiy funds in Chinese and American Markets
Table: Increase in investment amount of China equity investment market, 2002-2006
Table: Market shares of China equity investment industry, 2006
Table: Total quarterly investment by private equity funds in 2006 and the first three quarters of 2007
Table: Comparison of quarterly growth in total quarterly investment by private equity funds in 2006 and the first tbree quarters of 2007
Table: Top 50 of China's venture capital firms in 2007
Table: Top 30 of China'd private equity investment companies, 2007
Table: China's top ten cases of equity investment in 2007
Table: Adjustments to reserve requirement rate by the central bank in the past years
Table: Policies and regulations regarding equity investment, 1985-2006
Table: Distribution of industries invested by private equity funds in 3Q, 2007
Table: Comparison of investment between Chinese and oversease companies in the first three quarters of 2007
Table: Situation of Carlyle Group's investment in China, 2007
Table: Cases of IDG’s investment in China, 2007
Table: Cases of CDH Investment's investment in China, 2007
Table: Cases of SAIF Partner's investment in China, 2007
Table: Cases of Legend Capital's investment in China, 2007
Table: Cases of Sequoia Capital's investment in China, 2007
Table: Cases of Merrill Lynch's investment in China, 2007
Table: Cases of Warburg Pincus investment in China, 2007
Table: Cases of GGV investment in China, 2007
Table: Cases of DFJ investment in China, 2007
Table: Cases of Goldman Sachs (Asia) investment in China, 2007
Table: Cases of SIG investment in China, 2007
Table: Cases of JAFCO investment in China, 2007
Table: Cases of Intel Capital investment in China, 2007
Table: Cases of Chengwei Ventures investment in China, 2007
Table: Cases of TEMASEK investment in China, 2007
Table: Cases of Morgan Stanley investment in China, 2007
Table: Cases of Deutsche Bank investment in China, 2007
China Equity Investment Report, 2007-2008
To order this report:
www.reportlinker.com/p078009/2008/02/ China-Equity-Investment-Report-2007-2008.html
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