Friday 28th August 2015
NEWS: Thursday, August 27TH: The Hong Kong Monetary Authority says it has granted a restricted banking licence to Goldman Sachs Asia Pacific Company Limited (GSAPCL) under the Banking Ordinance. GSAPCL, incorporated in Hong Kong, is a wholly-owned banking subsidiary of the Goldman Sachs Group, Inc. The number of restricted licence banks in Hong Kong is now 24 - Apple launched its first Australian dollar corporate bond issue, raising $1.2bn within two hours this morning. Strong demand for the US tech giant’s fixed and floating, four and seven year Kangaroo bonds saw the firm outstrip predictions it would raise between $500m and $1bn. Apple bonds are popular because the AA+ rated company is considered an ultra-safe investment, although yields are correspondingly low — about 3% on four-year bonds and about 3.8% on seven-year bonds - The European Securities and Markets Authority (ESMA) has published the responses received to the Joint Committee Discussion Paper on Key Information Document for PRIIPS. The responses can be downloaded from the regulator's website - Romania’s MV Petrom reportedly is planning a secondary listing on the London Stock Exchange. According to Romanian press reports, the local investment fund Fondul Proprietatea may sell a significant stake in the company via public offering on the Bucharest Stock Exchange and London Stock Exchange. OMV Petrom, with a current market capitalisation of €4.85bn has announced that it will ask its shareholders’ approval for a secondary listing in London. The general shareholders meeting is scheduled for September 22nd. Austrian group OMV, holds 51% of the company’s shares; other shareholders include the Romanian state, via the Energy Ministry, with a 20.6% stake, and investment fund Fondul Proprietatea, which holds 19%. The remaining 9.4% is free-float - Morgan Stanley (NYSE/MS) today announced the launch of a new fund, the IPM Systematic Macro UCITS Fund, under its FundLogic Alternatives plc umbrella. The fund provides exposure to IPM’s Systematic Macro strategy, which is based on IPM’s proprietary investment models that provide unique insights into how fundamental drivers interact with the dynamics of asset price returns. The FundLogic Alternatives Platform currently has more than $2.6bn in assets under management (as of 31 July 2015) and this latest addition expands Morgan Stanley’s offering of global macro strategies - Equities sold off hard this morning as continued pressure on Chinese stocks rippled throughout world markets. Chinese government intervention brought the Shanghai Composite back a positive close; but the question is now, has confidence eroded so much that the market will continue to depend on the government to prop it up? The other key element to consider today is the outcome of the debate in the German parliament on the Greek bailout. Last month, a record 65 lawmakers from the conservative camp broke ranks and refused to back negotiations on the bailout. The daily Bild estimated that up to 120 CDU and CSU members out of 311 might refuse to back the now-agreed deal. However, Chancellor Merkel is looking to secure support from the Social Democrats (SPD), Merkel's junior coalition partner, and the opposition Greens which will likely swing the final decision Greece’s way. However, a rebellion by a large number of her allies would be a blow to the highly popular Chancellor.

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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.

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