It also pushed into asset management, despite investor qualms.
Vega Asset Management said it lost between 1% and 5% in some of its funds.
Like many BTG Pactual ventures, says Steve Jacobs, the head of asset management, it began by investing the partners' own money and was then opened up to clients.
This article is an embarrassment to the entire asset management industry as it stands.
Nomura Asset Management recently said it may start voting its shares against management at shareholders meetings.
ECONOMIST: Japanese corporate governance: No country for old men | The
As BNY Mellon expands its asset management business, it is being increasingly recognized among the top investment managers globally.
FORBES: BNY Mellon Ripe For A Run Above $40 If Managed Assets Grow Faster
It also bulked up its asset-management and private-banking arms, run by Jacques d'Estais (who used to head the investment bank).
Given that managers are paid to create value, not destroy it, asset write-downs reflect management incompetence and failure to allocate capital effectively.
FORBES: Big Write-Downs Usually A Red Flag For Failed Management
It has already invested heavily in asset management in Britain.
It will also be a leader in asset management, mergers and acquisitions, and corporate debt issuance.
The company announced it had struck a deal to buy the asset management arm of Barclays.
It would be unfair to blame poor asset-management performance on the merger, however.
As a first step, their bad debts are being transferred to four state-approved asset-management companies, although it is not clear what these companies will then do with them.
Ms. NICOLA HORLICK (CEO, Bramdean Asset Management, London): It's very difficult for people to invest in things that are meant to be regulated in America because they have fallen down on the job.
The government said it had no plans to sell Northern Rock (Asset Management).
Lehman hasn't articulated a clear plan for raising capital other than to say it will have proceeds from the sale of its asset management business.
It already had reasonable businesses in global custody and asset management.
The Irish government's National Asset Management Agency (Nama) has said it will try to revive Northern Ireland's commercial property market.
It was during those hard times that Harvard combined cautious asset management with a strategy of adding genuine value in the form of improved academic quality.
Deutsche Bank hired Richard Walker away from the SEC to head asset management and compliance last year, and it recently poached Goldman's Philip Gallo to help out.
"It's important to see on mass that we're in it together, " said 36-year-old asset management worker, Ed Lucas, who will be running his first ever marathon on Sunday.
KBW, Inc. ( KBW) is a research driven, boutique investment bank focused exclusively on financial services companies, including banks, thrifts, insurance, brokers, asset managers, specialty finance, exchanges and REITS. It offers investment banking, sales, trading research and asset management.
Although the region as a whole lags regulatory development, it will soon become priority subject matter for all local asset-management companies.
WSJ: Pimco's Guiding Asia-Pacific's Investor Evolution: Ki Myung Hong
It is jointly owned by UK property management companies Hermes Property Asset Management and Prudential Property Investment Managers, who were due to finance the project.
It is jointly owned by UK property management companies Hermes Property Asset Management Ltd and Prudential Property Investment Managers Ltd, who are financing the project.
One option that has repeatedly been raised is for the firm to sell all or part of its Neuberger and Berman asset-management unit, but that would leave it with a large proportion of assets impacted by the credit-market turmoil.
"It's just amazing, " says Michael Krensavage of Krensavage Asset Management.
Odey Asset Management, another hedge-fund titan, says it is in the process of establishing a Swiss operation in order to give itself some options, although it is unlikely that the whole operation would leave Britain.
Among this select group of small funds, Appalachian Asset Management in Charleston, W.Va. shows how it is done.
应用推荐