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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Saiid Ghobadian appointed EMEA head of OpenCollateral at Citi

Thursday, 09 February 2012
Saiid Ghobadian appointed EMEA head of OpenCollateral at Citi Citi says Saiid Ghobadian has been appointed EMEA head of OpenCollateral, Citi's collateral management product solutions. The increased regulatory pressure coupled with the growth of the OTC derivatives market has resulted in an increased focus on collateral management and Ghobadian's appointment reportedly strengthens Citi's capabilities in this sector.  http://www.ftseglobalmarkets.com/

Citi says Saiid Ghobadian has been appointed EMEA head of OpenCollateral, Citi's collateral management product solutions. The increased regulatory pressure coupled with the growth of the OTC derivatives market has resulted in an increased focus on collateral management and Ghobadian's appointment reportedly strengthens Citi's capabilities in this sector. 

Ghobadian brings over 15 years of experience in financial services and technology as well as a deep expertise in developing innovative solutions to improve collateral efficiency. He joins from JP Morgan where he was in charge of product development for Securities Collateral Management in EMEA.

In his new role Mr. Ghobadian will be based in London and report to Fergus Pery, global head of OpenCollateral. He is responsible for product development, strategy and sales. 



Citi offers agnostic collateral management services through OpenCollateral which acts as a trusted agent, interacting with clients’ counterparties to deliver comprehensive and customizable solutions designed to help clients mitigate risk and improve return on assets.

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