Private Client Services net earnings declined 6%, while Corporate and Institutional Client Group plummeted 49%.
Sterling Smith, commodity trading adviser and vice president, commodity research, Citibank Institutional Client Group, is bearish gold.
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Technically, gold is quietly consolidating at the moment, said Sterling Smith, futures specialist with Citi Institutional Client Group.
FORBES: Comex Gold In Narrow Range While Awaiting FOMC Outcome
With no hints of stimulus or quantitative easing, gold had nothing to pull it higher, said Sterling Smith, vice president, commodity research, Citibank Institutional Client Group.
FORBES: FOCUS: Gold Falls As Fed's Bernanke Doesn't Signal QE
Sterling Smith, futures specialist with Citi Institutional Client Group, outlined a number of ways gold could react in both directions, depending on how the Cyprus story plays out.
Mitchel Guttenberg, 41, an institutional client manager at UBS Securities, was charged with passing material--nonpublic information--to traders Erik Franklin, 39, formerly of Bear Stearns, and David Tavdy, 38, formerly of Assent, a New York broker-dealer.
This is a strategic move as HP has a huge institutional client base, and the more powerful x86 format is likely to be popular as productivity tools with institutions and HP can leverage this network.
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Sterling Smith, futures specialist, commodity research, Citibank Institutional Client Group, took a similar view as Barclays, saying it appeared that buyers stepped in at the low, which explained the lack of significant change in the data.
FORBES: FOCUS: Mixed Speculative Activity Seen In CFTC Data Following Metals Price Break
Prior to founding Loop Capital with Albert Gace, Jr. in 1997, Reynolds managed the municipal sales team responsible for the distribution of all tax-exempt products to institutions in the Midwest for the Corporate and Institutional Client Group at Merrill Lynch.
FORBES: Next Week's Guest: Jim Reynolds, CEO of Loop Capital
As for that UBS tipping case, 12 of the defendants have settled or pleaded guilty, including Mitchel Guttenberg, the former institutional client manager of UBS's research department who was accused of selling upcoming downgrade tips to hedge fund clients in a scheme hatched with a friend at New York's Oyster Bar.
In early 2002, petitioner was offered a larger, enhanced role as the COO for the institutional client group, where she would have direct supervisory responsibility over approximately 750 people, as opposed to her previous position as COO of global foreign exchange operations where she had direct supervisory responsibility over approximately 200 people.
FORBES: New York Likes to Hang on to the 1% as Long as it Can
Kohl on July 16, Ed Van Dolsen, TIAA-CREF's executive vice president of institutional-client services, wrote that the company "regrets any misunderstanding" caused by the recent ad and would not run it again.
Niederauer will look over NYSE's cash equities operations, including institutional and member firm group sales and client services for both the exchange floor and the electronic network acquired in last year's merger with Archipelago Holdings.
But it needed institutional clients in America, every sort of client in Europe, and a wider, more sophisticated range of products.
Managers are only too eager to use client commissions to reward a consultant for bringing a large institutional account.
FORBES: SEC Scrutiny of Pension Consultants: A Call To Action (February 28, 2004 )
When I review institutional portfolios, I regularly request, receive and review non-public SEC deficiency letters of firms handling client assets.
What this analysis suggests by implication is that the first order of business for the legal practitioner advising a client on a SCF transaction is to ask what, if any, legal exposure might the client have by fitting the desired secular financial transaction to a sectarian, political, and legal institutional framework predicated upon Shariah?
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