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UBS appoints new head of Asia ECM syndicate

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

The Asset

SWISS investment bank UBS has announced the appointment of Hannah Malter as head of equity capital markets (ECM) syndicate in Asia effectively immediately, reporting to Gaetano Bassolino, head of global capital markets for Asia-Pacific. In an internal memo sent on April 16 and seen by The Asset, UBS expects Malter to further build on the strong momentum in ECM and continue to diversify its business. She has an extensive experience in ECM and has held numerous roles in Sydney, New York and Hong Kong.

In another appointment, Andrea Casati will become vice chairman of Asia-Pacific ECM focusing on senior coverage of UBS’ priority clients across all industries. In announcing his appointment, UBS is banking on Casati’s global experience and strong ties to its clients, which made him ideally-placed to continue strengthening the bank’s origination and distribution franchise in the region.

The rest of this article can be found at theasset.com.

Pimco adds ex-White House Chief Of Staff to advisory board

Posted by Anton Murray Consulting on . Posted in Funds Management News, Investment Banking News, News

InvestorDaily

A former chief of staff to US President George W. Bush has joined the global advisory board of Pimco. Stepping into the role, Joshua Bolten will advise Pimco investment staff with “insights on global economic, political, and strategic developments and their relevance for financial markets,” according to a statement by the fixed income investment manager. Mr Bolten was President Bush’s chief of staff between 2006 and 2009. Before that, he served as director of the office of management and budget and, prior to that, was deputy chief of staff for policy.

He is currently president and chief executive of Business Roundtable, an American association of chief executives, and also has experience in the private sector in addition to two decades of government service. Mr Bolten has previously held roles at Goldman Sachs London as well as Washington, DC’s O’Melveny & Myers. In 2011, he co-founded international economic and regulatory policy consulting firm Rock Creek Global Advisors, where he was managing director.

The rest of this article can be found at investordaily.com.au.

Cryptocurrencies aren’t ‘currency’, says RBA

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

InvestorDaily

The Reserve Bank of Australia has reiterated its attack on cryptocurrencies, questioning their purpose and pointing to the lack of demand from the finance industry. Speaking in Sydney at the ASIC Annual Forum 2018, RBA assistant governor Michele Bullock said she “object[s] to the term ‘cryptocurrency’”. “It isn’t currency. They’re not currencies. You can’t use them, typically, to make payments,” she said.

“They don’t store value, and they’re not a unit of account. The name’s a misnomer to begin with.” Ms Bullock pointed out the fact that the RBA did already have electronic Australian dollars, called eAUD or ‘exchange settlement accounts’, but that this was restricted to banks needing to settle payments with each other. Furthermore, these electronic dollars were not located on DLT or blockchain technology, she added, demonstrating that “you can separate cryptocurrencies from distributed ledgers and blockchains; they are not the same thing”.

The rest of this article can be found at investordaily.com.au.

BTIM to rebrand to Pendal Group

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

InvestorDaily

BT Investment Management, which was floated out of Westpac in 2007, is seeking approval from shareholders to change its company name to Pendal Group Limited. Shareholders will vote at a BTIM general meeting on 27 April 2018 to end the company’s licensing agreement with Westpac to use the BT brand. Westpac sold down its stake in BTIM to 10 per cent in May last year, and the bank is planning to sell its remaining stake subject to favourable market conditions (but not before BTIM’s first half 2018 results).

In a letter to shareholders, BTIM chairman James Evan said “it is time for BTIM to establish its own name and brand” and “a name change is in the best interest of the business, and therefore shareholders”. “This will allow us to invest in an independent identity which we own, and to create a strategic brand advantage as we continue to execute our strategy of building and growing a diversified global investment management business”. “As the BT license is due for renewal later this year, the board believes that now is the right time to make this change,” Mr Evans said.

The rest of this article can be found at investordaily.com.au.

Cryptocurrency trade spiked in December: report

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

InvestorDaily

The value of cryptocurrency trading activity last year reached nearly $4 billion, with December alone accounting for more than half of the total trading value, according to a joint research project. In a joint research project by Accenture and the Australian Digital Commerce Association (ADCA), 2017 saw $3.9 billion worth of cryptocurrency traded across seven Australian digital currency exchanges (altogether representing two-thirds of the virtual currency market). December 2017 alone made up 59 per cent of the total value of trading activity over the entire year, equating to nearly half (48 per cent) of the 2.7 million in total transactions, according to a statement by Accenture.

Bitcoin was by far the most popular choice of cryptocurrency, making up for $1.86 billion in volume, followed by Ethereum at $712 million, with the average trade value at $1,430. The seven exchanges had a total number of 312,633 unique customers by the end of the year, 83 per cent of which were male and 71 per cent of which were under 40 years old. The growing popularity of cryptocurrency trading also gave rise to employment opportunities over the course of the year with the average number of full-time jobs at participating digital currency exchanges nearly quadrupling (390 per cent) from 2.9 staff members in January to 11.3 in December.

The rest of this article can be found at investordaily.com.au.