Backed by its longstanding experience developed around its four core business activities, La Française has finalized its new visual identity after more than three years of intensive development. The Group is thereby donning a new image symbolising its new strategy which is resolutely international and firmly grounded in its four core businesses.
It also represents the relationship of trust which it fosters with its affiliates.
More modern, unifying, dynamic and visible, this new identity expresses the Group’s values, namely cohesion and responsibility, audacity and creativity, elegance and finesse, all combined with experience and expertise.
On this occasion, the Group is redesigning its fourth core business, which is to become La Française Global Direct Financing, and its Asset Management business is renamed La Française Global Asset Management. Within this business activity, La Française des Placements is taking the name La Française Asset Management.
This approach reflects the highly cohesive organization between the Group’s different areas of expertise, focused on four core businesses:
La Française Global AM (Asset Management);
La Française Global IS (Investment Solutions);
La Française Global REIM (Real Estate Investment Management);
La Française Global Direct Financing.
Xavier Lépine, Chairman of the Board of La Française, said: “It was essential to symbolise the Group’s new profile through our visual identity, to be perfectly aligned with our positioning, our values and our ambitions. The Group’s strength is based on these four core businesses and our capacity to connect and share our areas of expertise to provide our clients with even more innovation: these four loops are the perfect symbol of this, representing the links we have been forging with our clients for many years.”
SWIFT announces that The KYC Registry is now available to banks seeking to increase efficiency and reduce risk related to their correspondent banking Know Your Customer (KYC) compliance activities. More than 20 global and regional banks have joined The KYC Registry, demonstrating clear momentum and support for this community-driven financial crime compliance initiative.
“Regulatory compliance imposes an enormous cost burden on banks and they are actively looking for common platforms to help mutualise that cost and reduce risk,” says Gottfried Leibbrandt, CEO, SWIFT. “The KYC Registry is our next flagship in financial crime compliance, delivering on our commitment to provide community-wide solutions for the industry.”
The KYC Registry provides a simple, secure way to exchange a standardised set of information for correspondent banking due diligence. Banks contribute an agreed ‘baseline’ set of data and documentation for validation by SWIFT, which the contributors can then share with their counterparties. Each bank retains ownership of its own information, as well as control over which other institutions can view it.
“The KYC Registry from SWIFT will make it much easier for us to on-board new counterparties,” says Francesco Rescigno, Head of Operational Risk, Compliance and AML, ICCREA Banca. “It will enable us to receive and share KYC information simply and securely, eliminating costly and redundant document exchanges.”
“Correspondent banking relationships are critical to trade and economic development in emerging markets,” says Steven Beck, Head of trade finance, Asian Development Bank. “We welcome The KYC Registry as a way for banks in these markets to demonstrate transparency and manage their counterparties’ information requests accurately and efficiently.”
The KYC Registry is operated by SWIFT, the industry-owned cooperative, as a neutral information provider. Banks are not charged for data contribution, or for using the Registry to share their KYC information with other banks. To maximise the Registry’s benefits, SWIFT will make data consumption free in 2015 for banks that contribute their own KYC information to the Registry and promote it to their correspondents.
SWIFT is also introducing the SWIFT Profile, a report which increases KYC transparency and addresses Know Your Customer’s Customer (KYCC) requirements. The SWIFT Profile is the first in a series of value-added KYC and customer due diligence services that SWIFT will offer in connection with The KYC Registry.
Wunderlich, a leading full-service investment firm headquartered in Memphis, has announced that Stacy M. Hodges has been named Chief Financial Officer of Wunderlich Investment Company, the holding company for Wunderlich Securities. Ms. Hodges has 20 years of financial services industry experience, primarily with Dallas-based Southwest Securities, in addition to a background in public accounting.
“We are extremely pleased to have someone of Stacy’s caliber join our executive management team,” said Gary Wunderlich, CEO of Wunderlich Securities. “Her experience leading the finance areas of larger, publicly traded financial services firms will be tremendously valuable to support our firm’s strategic growth objectives over the next few years.”
Hodges joined Southwest Securities in 1994 as controller, following nine years in public accounting with KMPG LLP. In 2002, she became Executive Vice President and Chief Accounting Officer of Southwest, a position she held for eight years before being promoted to CFO. As CFO, Hodges was responsible for financial and regulatory accounting, investor relations, credit and financial analysis. She also implemented an enterprise risk management function and was involved in corporate strategic planning. Hodges left Southwest in late 2013 when she was named Executive Vice President and Chief Accounting Officer for Nationstar Mortgage, a publicly traded, non-bank mortgage servicer with 6,000 employees and $12 billion in assets.
Hodges is a Certified Public Accountant and a member of the Texas Society of CPAs and AICPA. She is a graduate of Baylor University and served on the Baylor Accounting Advisory Council.
Foto: Matt Shalvatis, Flickr, Creative Commons. RBC GAM anuncia cambios en la dirección de su gestora, que contará con dos cabezas
RBC Global Asset Management (RBC GAM), the asset management division of Royal Bank of Canada, has announced a leadership transition, with Damon Williams and Alex Khein appointed as co-CEOs, reporting to George Lewis, group head, RBC Wealth Management & RBC Insurance, effective May 1, 2015. Also effective May 1, 2015, John Montalbano, CEO of RBC GAM, will assume a new role as vice-chairman of RBC Wealth Management, continuing to report to Lewis.
“RBC’s asset management business is among the fastest growing in the world, and the continued development of this successful, leverageable business is central to RBC’s global growth plans,” said Lewis. “John’s decision to initiate this leadership succession reflects the strength of RBC GAM and the talented global management team he has built. Damon and Alex are accomplished leaders with extensive experience, and this transition will be seamless for our employees and our clients.”
Both Williams and Khein have extensive tenures with RBC GAM:
Damon Williams joined Phillips, Hager & North Investment Management (PH&N IM) in 2005; the company was acquired by RBC in 2008. He has served since 2009 as head of RBC GAM’s institutional business globally and president of PH&N IM.
Alex Khein joined BlueBay Asset Management in 2004 and was appointed chief operating officer in 2005. BlueBay was acquired by RBC in 2010. Khein will remain as partner and CEO of BlueBay, a position he has held since January 1, 2014.
“I am humbled and privileged to have had the opportunity to serve the employees and clients of RBC GAM as CEO over the past six years,” said Montalbano. “I have full confidence that Damon, Alex and RBC GAM’s management team will effectively guide the organization as it continues to grow, compete and further enhance its investment capabilities. I am honoured to be asked by George Lewis to help guide this transition over the coming year and to take on additional responsibilities to contribute to RBC’s future growth.”
“John has had an exceptional tenure as CEO,” said Lewis. “He has led RBC GAM from its foundation in 2008 – via the amalgamation of RBC Asset Management, Phillips, Hager & North Investment Management and Voyageur Asset Management – to the acquisition of BlueBay Asset Management in 2010 and beyond. RBC GAM has had a consistent trajectory through this timeframe, even within challenging market conditions, with strong growth in assets under management, investment performance and capabilities, and international expansion. Today, RBC GAM is a leading global asset manager with over C$350 billion in assets under management and 23 investment teams across North America, Europe and Asia.”
As vice-chairman of RBC Wealth Management, Montalbano will support business development and special projects for RBC Wealth Management and other RBC businesses, as well as provide advice and counsel to the co-CEOs of RBC GAM and to Mr. Lewis, especially with respect to merger and acquisition opportunities for RBC GAM.
BlackRock has expanded its suite of Environmental, Social and Corporate Governance (ESG)-related products with the launch of iShares MSCI ACWI Low Carbon Target ETF. The new fund which seeks to track the results of the MSCI ACWI Low Carbon Target Index and addresses two dimensions of carbon exposure – carbon emissions and fossil fuel reserves – started trading on the New York Stock Exchange on December 9, 2014.
CRBN is designed for individuals and institutions interested in environmental sustainability without divestment and provides transparency to the carbon footprint of their investments. By overweighting companies with low carbon emissions relative to sales and those with low potential carbon emissions per dollar of market capitalization, it aims to maintain exposure to global equity, while accounting for carbon exposure. Relative to the standard ACWI index, the underlying holdings to the CRBN index produce 81% less carbon emissions and 97% less potential carbon emissions from fossil fuel reserves.
Daniel Gamba, head of BlackRock’s iShares Americas Institutional Business, said, “We see a growing demand from global investors who are seeking to invest in way that can have a positive impact on the broader economy without potentially sacrificing returns and to be able to do so with the ease, access and efficiency of an ETF. With iShares MSCI ACWI Low Carbon Target ETF, we are helping investors to look at socially responsible investing through the lens of long-term investment returns and in the process helping them to take action with their portfolios. This is particularly relevant for official institutions, pensions, foundations and endowments who are interested in pursuing environmental sustainability strategies without divestment.”
Carol Boykin, CFA, Representative of the Secretary-General for the investment of the assets of the United Nations Joint Staff Pension Fund, said, “As we consider the impact of climate change worldwide, as highlighted by the UN Secretary-General at his Climate Summit on 23 September, it is clear that investors are now paying close attention to the risk posed to their investments by climate change. The United Nations Joint Staff Pension Fund welcomes the creation of a new lower carbon index and related ETFs as a responsible approach to environmentally sustainable investing and a positive response to the Secretary-General’s call for action.”
Sam Gallo, Chief Investment Officer of the University System of Maryland Foundation, said, “Being able to address socially responsible concerns while maintaining our fiduciary standards is critical to our investment approach. The iShares MSCI ACWI Low Carbon Target ETF is a low-cost, investment solution that allows us to maintain full exposure to global equities while incorporating a carbon exposure reduction strategy.”
Baer Pettit, Managing Director and Head of the Index Business at MSCI, said “Socially responsible investing increasingly influences many of our clients’ investment strategies. We are pleased that iShares has again selected MSCI to meet its need for an innovative index.”
The MSCI Global Low Carbon Target Index re-weights stocks based on their carbon exposure in the form of carbon emissions and fossil fuel reserves. The index is designed to achieve maximum carbon exposure reduction given a specific tracking error target. The MSCI Global Low Carbon Target Index is based on the MSCI ACWI Index, the global policy benchmark covering developed and emerging markets, and utilizes MSCI ESG CarbonMetrics data from MSCI ESG Research Inc.
BlackRock’s commitment to social investing spans asset classes and enables investors to access investment strategies that target a reasonable risk-adjusted rate of return in addition to positive and measureable social or environmental outcomes. The firm managed $257 billion in social investing products as of the end of June 2014, up from $215 billion as of June 30, 2012.
Clarien Bank Limited has announced te appointment of Clare Spearing as Head of Private Banking.
“Ms Spearing will be responsible for leading the new business efforts for private banking, providing overall strategic direction for the division, maintaining the Bank’s high level of client service and overseeing operational excellence for the group,” the bank said.
“Ms Spearing’s appointment reflects Clarien’s aim to become the pre-eminent financial institution for local Bermudian banking clients, while strengthening its international offering of sophisticated products and services, combined with top level investment advice to wealth management and private banking clients. She will report to Mr. Paul Finn, Head of Global Wealth Management for Clarien.”
Ms Spearing brings over 10 years of Bermuda based banking experience. She began her career in corporate banking at Butterfield Bank, Bermuda where she worked for seven years, ending in the role of Assistant Vice President of Relationship Management and Sales.
Following this, Ms Spearing spent two years with HSBC Bank Bermuda, where she was Vice President, Senior Relationship Manager of the commercial banking unit.
Most recently, Ms Spearing was Head of Operations at the Bermuda Business Development Agency [BDA] where she acted as the primary liaison between various Government Ministries, the Bermuda Monetary Authority and other international industry leaders.
Ian Truran, CEO of Clarien Bank Limited, said: “Miss Spearing brings over a decade of Bermudian banking experience, and holds strong relationships with not only local and international clients but many important key organisations across the island.
“At Clarien, while we have international ambitions, we remain firmly committed to the island of Bermuda and the talent we have here. Miss Spearing brings an expert knowledge and experience of the local banking environment and we look forward to welcoming her.”
Ross Webber, CEO of the Bermuda Business Development Agency [BDA] commented: “Clare has dedicated the last 18 months to laying the foundation for the BDA to thrive and flourish; her tireless work has provided us with the platform to help Bermuda succeed in the international business arena.
“She has been a loyal and tenacious stalwart for the BDA, and handled with aplomb the myriad changes that come with building a business from scratch. While we will miss her expertise, we are delighted she will join one of Bermuda’s leading financial institutions. We wish her all the best and look forward to continuing our relationship”.
Foto cedida. Scotiabank Joins CONCACAF as Official Partner
The Confederation of North, Central America and Caribbean Association Football (CONCACAF) has announced an official partnership with Scotiabank, designating the international bank as title sponsor of the CONCACAF Champions League and official bank of the Confederation.
The multi-year agreement makes Scotiabank the first official partner of CONCACAF, and covers multiple tournaments through 2018 including the region’s most important club competition – the CONCACAF Champions League –now to be known as the Scotiabank Champions League beginning February 2015 with the Championship Round of the on-going 2014-15 edition.
“I am extremely proud to welcome Scotiabank to the CONCACAF football family and commemorate this strategic partnership,” said CONCACAF President Jeffrey Webb. “This agreement exemplifies the growing value of CONCACAF’s properties and demonstrates the trust and confidence in our Confederation.”
Headquartered in Toronto, Scotiabank is Canada’s most international bank, with a presence in over 55 countries including Latin America, the Caribbean and parts of Asia. The Bank offers a broad range of products and services, including personal and commercial banking, wealth management, corporate and investment banking, to over 21 million customers.
“Scotiabank is proud of our deep roots and strong commitment in the CONCACAF regions – supporting customers, businesses and communities for over 180 years,” said John Doig, Scotiabank’s Chief Marketing Officer. “This partnership is a natural fit for Scotiabank. Football is a passion we share with our customers and we’re excited to support current and future football stars. We are looking forward to celebrating the sportsmanship and teamwork of this beautiful game.”
In addition to title sponsorship of the Champions League, Scotiabank becomes an official sponsor for the CONCACAF Gold Cup – the Confederation’s flagship event for national teams – for 2015 and 2017.
Scotiabank will also support multiple additional CONCACAF tournaments through 2018, including 2016 Olympic Qualifying events, and men’s and women’s tournaments at the under-20 and under-17 levels, starting with the CONCACAF Men’s Under-20 Championship Jamaica 2015, set to kick off in January.
The deal further includes sponsorship for the next two editions of the CFU Caribbean Cup and the UNCAF Central American Cup, as well as upcoming CONCACAF championships in Beach Soccer, Futsal and at the Girls’ and Boys’ under-15 levels.
“When we extended our agreement with CONCACAF in late 2013, we focused on restructuring the sponsorship program in line with global standards led by CONCACAF Partners,” said Aaron Davidson, President of Traffic Sports USA, the sponsorship rights agency of CONCACAF. “Scotiabank is the perfect founding CONCACAF Partner thanks to their footprint across the region and their commitment to sport and the communities they serve.”
The partnership was announced in an event hosted at the Mexican Stock Exchange in Mexico City on Tuesday morning, with the presence of special invited guests from the Mexican and international soccer community including Mexican Football Federation President Justino Compean.
CC-BY-SA-2.0, Flickr. Matthews Asia contrata a Neil Steedman como director de Desarrollo de Negocio en Europa
Matthews Asia announces the appointment of Neil Steedman as Head of U.K. Business Development. Based in London, Neil will be responsible for directing the firm’s business development and client service activities in the U.K. and select European markets.
Neil has extensive experience working with institutional and professional investors, including local authorities, discretionary wealth managers, private banks, and global financial institutions, as well as leading platforms, including 10 years at Aberdeen Asset Management where he served as Head of U.K. Discretionary Sales.
Reporting to Jonathan Schuman, Head of Global Business Development, Neil’s hire marks an important step in the continued build-out of Matthews Asia’s global operations and highlights the company’s long-term commitment to the U.K. and European marketplace.
Neil Steedman, Head of U.K. Business Development, commented: “I am excited to join Matthews Asia as it continues to grow its business in the U.K. and Europe, and thrilled to be part of the team that will bring the firm’s distinctive investment approach and long-term focus on Asia to U.K. and European-based investors. Matthews Asia’s extensive product line-up and the firm’s long-term, fundamental approach to investing are ideally suited for institutional and professional investors’ portfolios.”
Jonathan Schuman, Head of Global Business Development, commented: “Neil’s appointment reflects Matthews Asia’s strategic commitment to provide distinctive Asian investment strategies and high-quality service to our partners and investors across the U.K. and Europe. We are pleased that a growing number of investors have recognized Matthews Asia’s specialist capabilities. The expansion of our local presence in Europe reflects the long-term importance that we place on providing quality products and service to our clients.”
Foto cedida. Art Basel Miami Beach cierra su edición más fuerte gracias a la visita de 73.000 personas
Art Basel’s 13th edition in Miami Beach closed Sunday, December 7, 2014, amidst strong praise from gallerists, private collectors, museum groups and the media.
Highlights of the show included the introduction of the new Survey sector, which brought 13 art-historical projects to the fair, including many rare works never before exhibited in an art fair context; and Art Basel’s staging with Performa of Ryan McNamara’s ‘MEƎM 4 Miami: A Story Ballet About the Internet’ at the Miami Grand Theater. Solid sales were reported across all levels of the market and throughout the run of the show.
Featuring 267 leading international galleries from 31 countries, the show – whose Lead Partner is UBS – attracted an attendance of 73,000 over five days. Attendees included representatives of over 160 museum and institution groups from across the world – and a surging number of new private collectors from the Americas, Europe and Asia.
Following a 100 percent reapplication rate for the Galleries sector and with new galleries coming from across the world, the list of exhibitors was the strongest to date in Miami Beach, firmly solidifying the show’s position as the leading international art fair of the Americas.
On Wednesday, December 3, Art Basel and BMW announced a new partnership supporting emerging artists. Starting in 2015, the BMW Art Journey will enable emerging artists to go on a journey of creative discovery to a destination of their choice. Functioning as a mobile studio, the BMW Art Journey is open to artists from Positions and Discoveries, Art Basel’s sectors for emerging artists in Miami Beach and Hong Kong. The show also marked the successful launch of Art Basel’s Next tours program for emerging collectors. A total of 80 collectors drawn from 12 young patrons groups of international museums attended bespoke tours of the fair and had intimate sessions with exhibiting galleries.
Art Basel’s next show in Miami Beach will take place from December 3 to December 6, 2015. Starting after the 2015 edition, the Miami Beach Convention Center will undergo major renovation, phased around the 2016 show, with the aim to finish the renovation before Art Basel returns to Miami Beach in December 2017.
Dagong Europe has announced that its majority shareholder Dagong Global Credit Rating Co. Ltd. (Dagong Global) has completed an adjustment to the shareholding structure of the company.
Through the adjustment, Dagong Global has acquired the 40% shares previously owned by Mandarin Capital Partners (MCP), therefore becoming the sole shareholder of Dagong Europe Credit Rating Srl (Dagong Europe).
Jianzhong Guan, chairman of Dagong Global and of Dagong Europe commented “Dagong Global’s strategy in the European rating market is to build up a new bridge that pumps up mutual investment between China and Europe and to undertake rating responsibility to guard off credit risks by providing just and authoritative rating information for Chinese investors. We believe that we will reap great fruit from the unique blueprint that caters for the historical demands of Europe. We are grateful that MCP co-founded Dagong Europe with us, and I hope that we could continue our cooperation in the future to help Dagong Europe to thrive”. Lorenzo Stanca, deputy chairman at Dagong Europe and managing partner at MCP, commented “we believe that Dagong Europe has a significant potential to become a key player in the credit rating industry in Europe. The results obtained in the first year from the obtainment of the Licence from ESMA confirm such an expectation, in a sector that is bound to see important changes and reshuffles, following years of dominance of the three big U.S. players.
Ulrich Bierbaum, general manager of Dagong Europe added, “I’m confident that the new ownership structure will provide even stronger support for Dagong Europe’s future growth plans, as we can leverage fully the internationally renowned Dagong brand. We will keep promoting the Dagong brand under Chairman Guan’s guidance by providing top-notch quality services to European issuers and Chinese investors.”
Dagong Europe Credit Rating srl (Dagong Europe) was established in March 2012 with headquarters in Milan, Italy. In June 2013, Dagong Europe received authorization and registration by the European Securities Market Authority (‘ESMA’) under the Article 16 of the CRA regulation. Dagong Global Credit RatingCo., Ltd., headquartered in Beijing, is the sole owner of the company.
Dagong Europe provides credit opinions on financial institutions including insurance companies and non-financial corporates, producing autonomously Procedures, Criteria and models that are the foundations of the credit rating process.
Dagong, the biggest credit rating agency in China, has 600 employees, including over 300 analysts with master’s and doctor’s degree, and over 50 post-doctoral researchers. Over 30 branch offices in China provide credit information services for clients at home and abroad.
