He takes over responsibility for investment services, Des Moines, Iowa-based Principal said today in a statement.
2011-2012 was a year of mixed fortune for Australia’s mutual banks, credit unions and building societies and according to KPMG’s Mutuals: 2012 survey, the sector can expect new and complex challenges ahead.
UBS AG London and HSBC, Hong Kong branch, conducted their first ever renminbi (RMB) triparty repo using Euroclear Bank and the Hong Kong Monetary Authority (HKMA) as collateral management agents, respectively.
Neither the Belgo-Dutch financial group nor GCS Capital, which is run by two former senior investment bankers at HSBC, gave many details on the talks, but a deal for the European asset manager could be worth up to €500m, according to bankers.
HSBC, Europe's biggest bank, had entered talks over the possible sale of its Korean retail banking operation, which has 11 branches, as part of a widespread asset-sale programme.
The remaining 25% of the hotel is being retained by its current owner, Prince Alwaleed bin Talal of Saudi Arabia, via his Kingdom Holding group.
The sales of Fine Chinese Modern Paintings on Monday, November 26 and Tuesday, November 27 achieved HK$415,668,750
BNP Paribas Securities Services has this week launched an administration service for alternative assets which it says is aimed at helping institutional investors manage their private equity, infrastructure and real estate investments more efficiently.