Friday 1st August 2014
slib33
THURSDAY TICKER: 31ST JULY 2014 - Standard & Poor's says Argentina is in selective default on foreign-currency-denominated debt, after the government failed to make a $539m payment on $13bn in restructured bonds. Argentina had transferred the money to the paying agent, but a US judge would not allow its release unless hedge funds holding bonds not included in a restructuring also were paid. The latest default is expected to exacerbate problems in Argentina's recession-hit economy, analysts say. This is the second time Argentina has defaulted on its debt in the last thirteen years, after last-minute talks in New York with a group of bond-holders ended in failure. Vulture fund" investors were demanding a full pay-out of $1.3bn (£766m) on bonds they hold. Argentina has said it cannot afford to do so, and has accused them of using its debt problems to make profits - In a regulatory filing made public earlier this week, and US press reports, BlackRock has begun the process of establishing a Wholly Foreign-Owned Enterprise (WFOE) in Shanghai. The firm is reportedly creating an investment advisory WFOE which will give it significantly greater flexibility and speed in executing its Greater China strategies – Shares in Chinese footwear manufacturer Feike AG have been listed on the General Standard of the Frankfurt Stock Exchange. Ten million shares have been listed at an initial price of €7.50. ACON Aktienbank AG is supporting the issue. Scheich & Partner Börsenmakler GmbH is the specialist. This is the third Chinese company to list on the exchange according to managing director Michael Krogmann. “With the IPO we have achieved an important strategic milestone. This helps us to expand our competitive position and our brand awareness in the booming Chinese market for children’s footwear as well as to realise future growth plans”, says Andy Hock Sim Liew, CFO of Feike AG - Funding pressures stemming from reduced central government capital grants and the persistence of tightened long-term bank lending are likely to fuel the English housing association sector's continued use of capital markets over the next two years, says Moody's Investors Service in a new report published today. The new report English Housing Associations: Financial Disintermediation- A One Way Trip, is the third in a series on European sub-sovereigns' financing needs and access to market funding.

Old Mutual appoints Ian Gladman as group strategy director

Thursday, 05 January 2012
Old Mutual appoints Ian Gladman as group strategy director Ian Gladman has become group strategy director of Old Mutual plc and will be a member of the group's executive committee. Gladman will assume responsibility for group strategy from Don Hope, who had indicated that he would like to retire from the Group later in 2012. Until his retirement, Hope will remain on the executive committee, as chairman of the group's Bermudan business and on the board of Nedbank. http://www.ftseglobalmarkets.com/

Ian Gladman has become group strategy director of Old Mutual plc and will be a member of the group's executive committee. Gladman will assume responsibility for group strategy from Don Hope, who had indicated that he would like to retire from the Group later in 2012. Until his retirement, Hope will remain on the executive committee, as chairman of the group's Bermudan business and on the board of Nedbank.

Gladman worked previously at UBS Investment Bank where he spent 16 years, most recently as co-head of Financial Institutions, EMEA, covering a range of UK and European insurance companies, banks and asset managers. Prior to that he was head of corporate finance South Africa for UBS, during which time he advised on Old Mutual's IPO and also advised Nedbank on various assignments. Prior to joining UBS, Gladman worked at Goldman Sachs and JP Morgan.

Related News

Related Articles

Related Blogs

Related Videos

Tweets by @DataLend

DataLend is a global securities finance market data provider covering 42,000+ unique securities globally with a total on-loan value of more than $1.8 trillion.

What do our tweets mean? See: http://bit.ly/18YlGjP