Yves Perrier and Amundi, Considered the Best in Europe

  |   For  |  0 Comentarios

Yves Perrier y Amundi, los ganadores en los Premios Financial News
Foto cedidaPhoto: Financial News. Yves Perrier and Amundi, Considered the Best in Europe

Amundi was the standout winner at Financial News’s 16th Asset Management Awards last night, fending off fierce competition from a strong line-up of contenders to claim three of the top awards on offer.

Europe’s largest fund house was the only asset manager to take home more than one award — no mean feat in a year where several top prize winners only just pipped their closest contenders to claim victory.

Amundi was crowned Asset Manager of the Year after a distinguished panel of industry judges deemed its €3.5bn acquisition of Pioneer Investments last year worthy of the top award.

Amundi also beat Lyxor Asset Management and AQR Capital Management, Ossiam and Tobam to take home the award for Smart Beta Manager of the Year.

Yves Perrier picked up Amundi’s third award, for Chief Executive of the Year, after judges felt much of the firm’s success in the past 12 months was driven by its senior leadership team.

The other industry personality to receive recognition was Dominic Rossi. He picked up the Chief Investment Officer of the Year award as a result of his work to bolster Fidelity International’s stance on corporate governance.

Among exchange traded fund providers, Lyxor stormed to success after beating BlackRock’s iShares division — the world’s largest ETF firm.

Emerging markets proved to be the most competitive categories this year, with Ashmore only just beating Hermes Investments to claim success.

It was also a closely fought battle for Environmental, Social and Governance Manager of the Year, with Hermes emerging the victor after managing to outshine rivals Legal & General Investment Management and Nordea.

An enviable track record for Terry Smith, who holds a concentrated portfolio of 20-30 stocks in global equities, was enough for the judges to hand Fundsmith the award for Boutique Manager of the Year.

Others continued their winning streak from last year. Insight Investment once again picked up the Liability-Driven Investment Manager of the Year award — the eighth year the asset manager has claimed victory in this category.

Edinburgh-based Baillie Gifford was the runaway winner in the Equities Manager of the Year category, with its performance alone enough to impress the judges it should be awards the top prize.

Redington held onto its prize for Investment Consultancy of the Year, demonstrating again it has the ability to fend off larger rivals Mercer, Hymans Robertson and Aon Hewitt for the top award.

Anglo-Dutch outfit Cardano continued to steamroll competition and claim top prize in the fiduciary management category — the ninth consecutive year it has won the award.

Winners of the Asset Management Awards Europe 2017:

  • Chief Executive Officer of the Year — Yves Perrier, Amundi
  • Asset Manager of the Year — Amundi
  • Chief Investment Officer of the Year — Dominic Rossi, Fidelity International
  • Investment Consultant of the Year — Redington
  • Index Funds/ETF Provider of the Year — Lyxor Asset Management
  • Fiduciary Manager of the Year — Cardano
  • Boutique Manager of the Year — Fundsmith
  • ESG Strategy of the Year — Hermes Investment Management
  • Equity Manager of the Year — Baillie Gifford
  • Fixed Income Manager of the Year — M&G Investments
  • Multi-Asset Manager of the Year — Nordea Asset Management
  • Smart Beta Manager of the Year — Amundi
  • LDI Manager of the Year — Insight Investment
  • Emerging Markets Manager of the Year — Ashmore

Aegon Launches an Asset Management Company in Mexico

  |   For  |  0 Comentarios

Aegon lanza una gestora en México
Foto cedida Fernando Quiroz, courtesy photo. Aegon Launches an Asset Management Company in Mexico

Aegon NV and its subsidiary Transamerica have joined forces with Administradora Akaan to create an asset management company named Akaan Transamerica.  Akaan Transamerica has recently received formal approval from the Mexican Banking and Securities Commission (CNBV) to initiate operations and go to market.

Akaan Transamerica will offer a wide variety of Mexican and International mutual funds as well as diversified global investment solutions. Akaan Transamerica has implemented Aladdin, BlackRock‘s trading and risk management system which combines leading-edge risk analytics with comprehensive portfolio management, trading and operations on a single platform.

Akaan Transamerica will leverage the extensive investment knowledge and experience from a highly skilled team of investment management professionals.  Its product offering includes alternative investments, actively- and passively-managed funds, and bespoke investment strategies. In addition to the wide variety of investment products, Akaan Transamerica will offer integrated investment solutions for individuals and companies based on their financial needs. Akaan’s Chairman and Founder, Fernando Quiroz, was formerly CEO and Vice Chairman of Citigroup’s ICG Mexico and Latin America as well as Vice Chairman of the Board of Directors for Banco De Chile.  Mr. Quiroz was also a Board member of Banamex, Grupo Financiero Banamex, Aeromexico and the Mexican Stock Exchange (BMV).

Mark Mullin, President and CEO of Transamerica, commented, “We are thrilled to form this partnership with the highly respected firm of Akaan and to benefit from the tremendous expertise of Fernando Quiroz. We are determined to help individuals and corporations in Mexico pursue wealth accumulation and growth as they work toward securing a sound financial future.”

Fernando Quiroz, commented, “We are delighted to have formed a JV and a strategic alliance with Aegon and Transamerica. Our teams worked extremely hard to set up a new asset management company, with a state-of-the-art technological platform and the most innovative financial solutions for our clients.”

Kent Callahan, President and CEO of Transamerica Latin America, added, “This unique combination of experienced professionals and cutting edge technology sets a new bar for customer service excellence in the asset management business in Mexico.”

 

Loomis Sayles & Company, JP Morgan Asset Management, and Alliance Bernstein Get 700 Million Dollars From Afore XXI Banorte’s Mandate

  |   For  |  0 Comentarios

Afore XXI Banorte fondea 700 millones de dólares en renta variable estadounidense
Pixabay CC0 Public DomainPhoto: freephotos. Loomis Sayles & Company, JP Morgan Asset Management, and Alliance Bernstein Get 700 Million Dollars From Afore XXI Banorte's Mandate

Afore XXI Banorte, the largest pension fund in Mexico, successfully completed the funding of its third investment mandate. On this occasion it granted $700 million to three managers to actively invest in US equities. Alliance Bernstein received $250 million, JP Morgan Asset Management $150 million and Loomis Sayles & Company (owned by Natixis Global Asset Management) received $300 million.

To date, the pension fund administrator of Grupo Financiero Banorte and the Mexican Social Security Institute (IMSS), has funded three investment mandates; the first in European stock markets for approximately $1.1 billion, the second in the Asian market for approximately $1 billion and the latter with exposure to the United States for $700 million.

Mauricio Giordano, CEO of Natixis Global Asset Management Mexico, told Funds Society  that “US equities are not normally considered to be alpha-generating, since the average manager does not beat the market, and what I tell the players is why to see the average if there are managers like Loomis who consistently present an overperformance.” The director added that the funding of this mandate came in only two months which is proof that “when you have well-structured teams with a very clear plan things can be done very fast.” Loomis will actively manage 3 segregated US Equity portfolios for Afore XXI Banorte. The Large Cap Growth accounts will be managed by seasoned US growth manager Aziz Hamzaogullari and his dedicated research team, using their proprietary bottom up research structured around quality, growth and valuation.

Aziz Hamzaogullari, VP and Portfolio Manager Loomis Sayles Growth Equity Strategies team, commented: “We are delighted that Afore XXI Banorte has chosen Loomis Sayles as a strategic partner. We believe in taking a long-term, private equity like approach to investing. Through fundamental research, we look to invest in those few high-quality businesses that we believe have sustainable competitive advantages and secular growth when they trade at a significant discount to intrinsic value”.

This transaction gives Afore XXI Banorte the opportunity to take advantage of the conditions of the United States stock markets and actively manage the portfolio for the benefit of its clients. “With the funding of this mandate, Afore XXI Banorte confirms its commitment to affiliates, offering the best investment product for their retirement in Mexico under the management of specialized firms with extensive international experience. In addition to this, we used the services of a temporary administrator known as “transition manager” and a proven international custody model, all in order to enhance the performance of our portfolio for the benefit of our affiliates in the long term”, said Juan Manuel Valle, Chief Executive Officer at Afore XXI Banorte.

Sergio Méndez, Chief Investment Officer at the pension fund, commented: “With the funding of this mandate with exposure to the North American region we finalized the first phase of our plan on the outsourcing of investment services, maximizing the use of our investment regime, which places Afore XXI Banorte at the forefront in the local market.”

Old Mutual Latam Launches Their Wealth Management Segment in Mexico

  |   For  |  0 Comentarios

Old Mutual Latam Launches Their Wealth Management Segment in Mexico
Pixabay CC0 Public DomainMexico City's financial district. Old Mutual Latam Launches Their Wealth Management Segment in Mexico

Old Mutual has decided to enter into the Wealth Management segment in Mexico. This new division is being led by Rodrigo Iñiguez, a professional with over 11 years in the group.

Mexico is the second largest market in the Latin American region, after Brazil, so Old Mutual expects that in the next 5 years this line of business will generate a high percentage of its sales for Mexico and complement that of Latin America. According to McKinsey Global Wealth Management, Mexicans have over 800 billion dollars in different financial institutions.

Agustín Queirolo, who is in charge of the Wealth Management segment for Latin America, said: “We will face this new challenge by leveraging our experience and the great acceptance we already have in countries such as Chile, Peru, Switzerland and the United States…We are sure that this new and innovative Mexican solution will help us in advising our clients in an integral way with a local and international vision. Our solution allows Mexican clients and residents in Mexico the possibility of guarding their investments both locally and abroad.”

Julio Méndez, Group CEO in Mexico, said: “The company has achieved significant growth in its different segments in recent years. We maintain a leading position in the Institutional business through the administration of Private Pension Plans and have managed to expand our distribution through more than 3,000 investment advisors across the country. The DNA of our Group is constantly pushing the creation of new investment solutions with a constant innovation in the creation of products and today we visualize great opportunities to enter the Wealth segment.”

Thinking of complementing Private Banks, Family Offices and Wealth Managers that advise affluent and high net worth Mexican families, they will be using a life insurance solution, with an investment component, as an asset planning tool, as well as other innovative instruments that fit the segment and its clients.
 

Jupiter Asset Management Teams up with Unicorn to Target Latin America

  |   For  |  0 Comentarios

Jupiter Asset Management se alía con Unicorn para entrar en el mercado latinoamericano
Pixabay CC0 Public DomainMatteo Dante Perruccio, courtesy photo. Jupiter Asset Management Teams up with Unicorn to Target Latin America

Jupiter Asset Management (Jupiter AM) reached an agreement with global distribution platform Unicorn Strategic Partners, a global third-party distribution platform which services clients through offices in Santiago de Chile, Montevideo, Buenos Aires, Miami and New York, to service key Latin American markets as well as US offshore hubs of New York and Miami.

The agreement will allow Jupiter AM to continue its international growth strategy based on a selective business expansion in the regions where the Company has identified potential client demand and provides Jupiter AM with access to potential clients in the region. According to Matteo Dante Perruccio, Head of Global Key Clients: “Our alliance with Unicorn offers us the opportunity to enter the region partnering with an exceptionally talented and experienced team of distribution professionals with an in-depth knowledge of the unique characteristics and requirements of the Latin American market.”

According to the latest figures, private wealth in Latin America will reach an estimated $7.5.9 trillion by the end of 2021, making it a significant and rapidly growing market.  Chile, Uruguay and Argentina are strategic markets in the region.

With this alliance, Jupiter AM consolidates its global presence, with representation in UK, Spain, Germany, Switzerland, Austria, France, Hong Kong, Italy, Luxembourg, Portugal, Sweden and Singapore. 

Active management and high conviction investment:

Jupiter AM is a UK asset manager founded in 1985 that believes in high quality, high conviction active management and in the independence of its managers as a key requirement to be able to add value. As such, there is no in-house macro-economic view or investment committee that produces lists of recommended stocks. Managers instead have the freedom to make investment decisions, albeit always working within strict risk parameters.

Jupiter AM is an established UK-listed asset management business. In recent years the company has expanded its footprint across Europe and Asia. It currently has more than $ 61.1 billion under management globally (as at June 30, 2017).
 

Joel Peña Joins DoubleLine to Lead Expansion in Latin America, Caribbean

  |   For  |  0 Comentarios

El mexicano Joel Peña liderará las relaciones con clientes institucionales de América Latina y el Caribe en DoubleLine
Joel Peña, Photo Linkedin. Joel Peña Joins DoubleLine to Lead Expansion in Latin America, Caribbean

 Joel Peña has joined DoubleLine Capital LP as head of the firm’s institutional and intermediary investor relations in Latin America and the Caribbean. Peña comes to DoubleLine from international asset manager Robeco where he served as managing director for Latin America and U.S. Offshore.

In addition to heading DoubleLine’s institutional and private client relations in Latin America and the Caribbean, Peña will manage relations with overseas clients, advisors and distributors engaging the firm via its U.S. offshore platforms.

“Thanks to economic growth, a broadening middle class and rising standards of living, countries in Central and South America have seen growth in assets entrusted to pension funds, insurers and other fiduciaries. These institutional investors are looking beyond their local markets for investment opportunities and expertise,” said Ron Redell, executive vice president of DoubleLine. “My colleagues and I are delighted to welcome Joel into the DoubleLine team to sharpen our focus on the needs and objectives of institutional and private investors in Latin American and the Caribbean.”

“Navigating markets in today’s complex environment is far from easy. Very few firms have been as successful at it as DoubleLine,” Peña said. “I look forward to leading the expansion in Latin America within this organization, a company which is fully committed to always putting its clients’ needs first.”

Peña has 16 years of experience in asset management. Prior to Robeco, he served nearly six years as head of institutional clients in Latin America for fixed income manager PIMCO. He began his career in asset management at BBVA Bancomer in Houston and Miami before joining Bank Hapoalim as senior private banker. He holds an undergraduate degree in economics from Instituto Tecnológico y de Estudios Superiores de Monterrey , Tecnológico de Monterrey, Mexico, and an MBA from the Stern School of Business, New York University. He is a CFA and CAIA charter-holder.

A New Order in the Oil Industry?

  |   For  |  0 Comentarios

¿Un nuevo orden en la industria del petróleo?
Pixabay CC0 Public DomainPhoto: StockSnap. A New Order in the Oil Industry?

At the end of July, the UK government announced plans to ban the sale of new gasoline and diesel vehicles from 2040, being the fifth country, with Holland, Norway, India and France, to end the sale of cars with traditional internal combustion engines. Noting the rapid changes taking place in the industry, many of the major car manufacturers have in turn announced their plans to focus on electric powertrain technologies in developing their product plans and launches. What’s more, in Volvo’s case, it has been announced that from 2019 the vehicles released into the market will be either electric or hybrid.

However, while much of the market narrative focuses on electric vehicles, the destruction of demand and the end of the oil era, the energy team at Investec Asset Management believes that global demand for crude oil continues to grow at a decent rate.

The International Energy Agency continues to alter historical data, distorting the picture, but the projected growth rate of demand is at 1% to 1.5% per year and shows no signs of slowing down. With this in mind, we expect the price of oil to remain at between 10% and 15% of current prices in the short and medium term. Even more important, for the energy companies that we have in our portfolios, we have behind us four consecutive quarters (from June 30th, 2016 to June 30th, 2017) in which the price of a barrel of Brent has averaged $50. This gives us a good understanding of the company’s profitability in the new oil order. In fact, we can find companies that are in the process of becoming more profitable at this price level than they were at the highest peak of the last cycle: given cost cuts, in asset classes, debt reduction and strategic focus on ‘value over volume’, which is perhaps not surprising. The main gas and oil companies have historically had no difficulties in generating liquidity; their errors have been committed from a poor allocation of capital and a search for growth.”

Fred Fromm, an analyst and Portfolio Manager at Franklin Natural Resources, a Franklin Equity Group fund, argues that while a small number of countries have announced plans to eliminate sales of internal combustion vehicles, given a time frame, which is often measured in decades, they do not see an impact in the oil markets. “These goals are long term and aspirational, with little foresight given the physical limits and practical implications of that shift. In the medium and short term, there simply is not enough infrastructure to facilitate a complete shift towards electric vehicles, while gasoline-powered vehicles have decades of infrastructure to withstand them, even with increased electric vehicle penetration, it will take years, if not decades, before the global base of vehicles, and therefore the demand for oil, is significantly affected,” says Fromm.

“The move to electric vehicles will require an upgrade of the existing electricity grid, the creation of new public recharging stations, the refurbishment of homes to equip them with charging capacity, and an increase in the production of batteries and associated minerals. While we see the increase in electric vehicle usage as a long-term trend, we do not think it is so short-term as to threaten global demand for crude oil. In any case, the Franklin Natural Resources fund is a diversified portfolio, with significant exposure to the energy sector, but which also invests in diversified metals and mining companies, so that it can invest in companies positioned to benefit from growth in demand for electric vehicles. In addition, the fund’s energy investment is spread among several sub-sectors and among oil and natural gas producers, the latter is likely to benefit, as it is a cleaner fuel in generating the electricity needed to recharge electric vehicles. While part of this potential increase in demand for electricity can be met from renewable sources of energy, such as wind and solar energy, these alone will not be sufficient and will depend on battery technology and large capacity storage solutions,” he adds.

Likewise, Pieter Schop, Lead Manager of the NN (L) Energy fund, agrees that the impact of the electric vehicle on the demand for oil is exaggerated. “Demand for crude oil is expected to continue to grow at around 1.5 million barrels per day for the next few years, reaching peak demand within a decade or two. Demand for gas-powered passenger vehicles in the developed world will be affected, but growth in demand will come from China and other emerging countries. There are still 3 billion people without access to a car, and the first vehicle they are going to buy is probably not a Tesla. Secondly, the other half of the demand for transport comes from demand for aircraft, trucks and buses, where it is much more difficult to switch to electric motors. Industrial and residential demand is also expected to be more resilient.”

According to Eric McLaughling, senior investment specialist at BNP Paribas Asset Management Boston, while he is aware of the forecasts for the long-term demand for fossil fuels, short-term prospects for oil prices are positive. Lower investment by oil producers will weaken supply growth throughout the latter part of this decade. “Through the lens of our investment horizon, the gradual introduction of the electric vehicle does not alter our valuation thesis.”

When it rains, it pours

In an industry that has been affected by the volatility and uncertainty surrounding oil and energy prices, a negative sentiment persists despite the fact that Brent’s average price so far this year is US$ 52 per barrel, surpassing the US$ 45 per barrel average of 2016; the devastation caused by Hurricane Harvey in Texas and adjacent states is now the immediate focus of investors.
“There are numerous repercussions in refineries, as well as in the upstream and midstream sectors, however, we believe that the impact will be transitory, given past experiences, and the operational strength and resilience of these sectors and businesses,” the team at Investec Asset Management comments.

In that regard, Schop, Manager at NN IP claims that the direct effects of the storm are limited. “The affected refineries will suffer cuts for a limited period of time and afterwards will continue production. We have seen some weakening in the price of WTI, but the Brent has not been impacted. This has resulted in an expansion of the spread between the WTI and Brent barrel. For most European oil companies, Brent is more important. The indirect effect of the storm is that it can result in lower GDP growth in the United States as damage costs are expected to exceed $ 10 billion. In turn, lower GDP results in lower demand for oil.”

Finally, from Franklin, they point out that in terms of impact on global markets, changes in production on the Texas and Louisiana Gulf Coast have resulted in a shift in trade flows, where Latin American markets have sought to import products from Europe and Asia to replace those typically received from the United States, and recent exports have also suggested that refineries in Asia are looking to secure US crude because of the discount at which it trades against Brent. “Although changes in production are the primary impetus that has led to the expansion of the differential, this was expected to occur at some point given the growth in US production, the limited ability of US refineries to expand their processing capacity in the short and medium term, and the need to encourage a decrease in net imports (through lower imports and higher exports).”

Chile’s Pension Reform and Savings in Peru and Colombia: An Interview with AllianceBerstein’s Ignacio Fuenzalida

  |   For  |  0 Comentarios

La reforma de las pensiones en Chile y el ahorro en Perú y Colombia: entrevista con Ignacio Fuenzalida, director regional de AllianceBerstein
CC-BY-SA-2.0, FlickrIgnacio Fuenzalida, courtesy photo. Chile’s Pension Reform and Savings in Peru and Colombia: An Interview with AllianceBerstein's Ignacio Fuenzalida

Ignacio Fuenzalida has just been appointed as AllianceBerstein’s Regional Director for Chile, Peru, and Colombia. His incorporation coincides with the opening of an office in Chile, which reinforces the firm’s presence in Latin America. Fuenzalida spoke with Funds Society about the region’s situation and AB’s projects.

What challenge does heading the Andean zone (Chile, Peru and Colombia) for AllianceBerstein pose for you?
“I’ve been entrusted with the task of making AB grow in this region. I believe we have a range of products which is capable of satisfying different types of clients in this region. And I think I have the tools to overcome that challenge. We have both institutional and retail clients and I believe that the diversification of the market is quite relevant. The number of players is very relevant. “

Chile is in the process of reforming its pension system, with some changes already known and others that are underway. What impact will these innovations have and how are they appraised?
The reform bill is still being discussed, but I think the reform takes care of emerging needs. We believe it’s important to increase future pensioners’ contributions and savings. And we hope that in the future we can satisfy those savings with adequate investments that allow pensioners’ returns to grow.”

Do you see it as a restriction or as an opportunity?
“We see that we are in line with other developed countries, which seek an increase in savings, and we believe that this increase will always mean a greater opportunity for us, as we have good products and focus on satisfying the client”.

The reform proposed by the Chilean government includes the creation of a state entity to manage part of the contributions: Will there be room in this sector for players like you?
“That remains to be seen, but at AllianceBerstein we are investment tool suppliers, and I am sure that, with our returns and variety, some of them will adjust to the needs of how these pensions are managed in future “.

The operations of two countries that are doing well economically, Peru and Colombia, are centralized in Chile: What are AB’s perspectives for these countries?
“We think they are countries that have good economic data, which have a fairly stable and sustained growth over time. We believe that this will continue and that the economies of Colombia and Peru (and also of Chile), will increase their rates of savings over time. And as these savings rates increase, the amount available for investing will grow. That is why we believe that we are going to be a very relevant player in the region, both for pensions and for the voluntary savings of non-pensioners. All the countries of the Andean region share similarities, the pension systems are quite uniform and their somewhat conservative investment practices are similar. That’s what poses a significant challenge.”

It is often pointed out that there is little tendency to save in Latin America, but you describe a future with an increase in savings in homes and institutions.
“This has to do with what we have seen that has happened in other countries. At present, the savings to income ratio is quite low, and is almost nil in some segments of the population. Fortunately, in these countries we have pensions as mandatory savings, and we believe we are heading towards an increase in the mandatory rate. But also, as countries grow and per capita incomes increase, we believe that the most basic needs are being met, and then we can move on to savings. Savings will be one of the things that are going to happen, because in these countries there are also idiosyncrasies of a certain order and both mandatory and voluntary savings will increase gradually.

Could you tell us about AB’s funds’ range?
“Perhaps AllianceBerstein was initially known for fixed income products, and there were quite traditional products such as High Yield and American Income (with a more conservative and a more aggressive part), which together have worked very well during the fund’s 22 year history. But its share of equity is presently very strong; we currently have about 30 funds which are ranked very well, with the highest rating and also four stars. Presently, I feel that I have several funds, more than ten, that I can offer clients because they adjust to their needs. “

AllianceBerstein, based in New York, is currently present in 21 countries, including Brazil, Argentina and Mexico. Globally, the firm has about $ 517 billion in assets under management.

Ruben Lerner and Manuel Uranga Join Bolton’s New York Team

  |   For  |  0 Comentarios

Bolton continúa su expansión en Nueva York con el fichaje del equipo de Ruben Lerner y Manuel Uranga
Photo: Bolton. Ruben Lerner and Manuel Uranga Join Bolton's New York Team

Independent broker-dealer Bolton Global Capital has ramped up its expansion in New York City with the addition of Morgan Stanley international advisors Ruben Lerner and Manuel Uranga.

After nine years as managing directors at Morgan Stanley, where they advised on an international client book of $550 million, Lerner and Uranga have launched A Plus Capital, which will be headquartered in Manhattan at 515 Madison Avenue, Bolton has announced.

Junior partner Ariel Materin, client associate Jennifer Ramos and office manager Olga Lopez also join from Morgan Stanley. Materin will manage client acquisition and investment strategy for the team while Ramos will be based in A Plus Capital’s Miami location and Lopez will manage the New York office.

Lerner, originally from Venezuela, and Uranga, from Spain, service clients across Europe, Latin America and the US.

The duo joined Morgan Stanley from Smith Barney, which was then still part of Citi, in 2008 with sales assistants Dolores Alcaide-Mendez and Jennifer Ramos. Alcaide-Mendez remains with Morgan Stanley.

Custody of client assets will be held through BNY Mellon Pershing. Bolton will be providing compliance, back office, and marketing support as well as the wealth management and trading technologies for the A Plus Capital team.

Morgan Stanley confirmed the team’s exit, but declined to comment further.

Bolton’s big plans

The Bolton, Massachusetts-based business is looking to continue to acquire more than $850 million in client assets in New York City market before the end of 2017. It entered the region in May when former HSBC private banker Ethan Assouline joined the broker-dealer.

Over the last two years Bolton had been targeting advisors in Miami, adding international teams that had left wirehouses and private banks due to internal policy changes during that period. It now has over $4 billion in assets under management from non-US resident clients.

Fernando Pérez-Hickman and Jefferson G. Parker Take on New Roles at Iberiabank Corporation

  |   For  |  0 Comentarios

Fernando Pérez-Hickman y Jefferson G. Parker asumen nuevas funciones en Iberiabank Corporation
Foto: Fernando Pérez-Hickman (izda.) y Jefferson G. Parker (dcha) . Fernando Pérez-Hickman and Jefferson G. Parker Take on New Roles at Iberiabank Corporation

Iberiabank, has announced today a change in leadership.  After John R. Davis‘ resignation from his position as Director of Financial Strategy, Investor Relations, and Mergers and Acquisitions, effective today, August 31, 2017. Jefferson G. Parker, who will continue to be responsible for the capital markets business, will take on Investor Relations, and Fernando Perez-Hickman will serve as Director of Corporate Strategy and be responsible for Mergers and Acquisitions.

Daryl G. Byrd, President and Chief Executive Officer of Iberiabank Corporation, commented, “For 18 years, John has made immeasurable contributions to the success of our Company. He has been instrumental in transforming our Company from a small Louisiana-based community bank holding company to the nearly $30 billion regional, multi-faceted financial holding company it is today. We thank him for his dedication and extraordinary hard work and wish him all the best.”

John R. Davis said, “I have thoroughly enjoyed working with Daryl, my teammates, and the investment community in building a dynamic company through unprecedented economic and regulatory changes. The Iberiabank brand of quality is truly defined by its people. I am confident that Jeff and Fernando will do a great job and expect this to be a very smooth transition.”

Byrd continued, “Jeff’s background, his 16 years of service both as an outside Director of our Company and as head of our capital markets and brokerage businesses, position him well to handle investor relations. Through the recent acquisition of Sabadell United Bank, Fernando joined our Company and will serve as Director of Corporate Strategy and lead our mergers and acquisitions efforts. I am confident that Jeff and Fernando will continue to leverage the strong relationships John has developed to continue to grow our Company successfully.”