Investment Banking News

Investment Banking News

First Sentier appoints independent non-executive directors

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

InvestorDaily

First Sentier Investors has appointed two financial services veterans to its board as independent non-executive directors. Following its sale last year to Mitsubishi UFJ Trust and Banking Corporation – a wholly owned subsidiary of Mitsubishi UFJ Financial Group – First Sentier Investors announced its intention to operate as a standalone investment manager governed by a board of directors. Michelle Tredenick and Richard Wastcoat have now been appointed as independent non-executive directors, effective immediately.

“I am pleased to welcome Michelle and Richard to the board as non-executive directors of First Sentier Investors Holdings,” said chairman Sunao Yokokawa. “As a standalone business, they will play an important role in ensuring we align with best practice corporate governance.” Ms Tredenick has held senior roles at NAB, MLC, and Suncorp, and currently holds board roles at Insurance Australia Group, Bank of Queensland, and Cricket Australia. She has twice been awarded Banking and Finance CIO of the year and is a fellow of the Institute of Company Directors.

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

T. Rowe Price appoints distribution head

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

InvestorDaily

T. Rowe Price has announced the appointment of an industry veteran with 20 years’ investment experience as its new head of distribution for Australia and New Zealand. Darren Hall will take the position of head of distribution, effective 28 August 2020. Mr Hall is currently head of intermediary for Australia and will succeed Murray Brewer, who will retire at the end of 2020 after 14 years of service with the firm. He will report to Nick Trueman, Singapore-based head of distribution for the Asia Pacific.

“We are pleased to have Darren, a longstanding contributor to T. Rowe Price’s ANZ business, take over the reins,” Mr Trueman said. “His extensive experience and expertise in relationship management, understanding of the local market and demonstrated investment knowledge make him the ideal leader for our ANZ operations. We are well placed to continue our success under Darren’s leadership.”

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

Markets surge on vaccine hopes

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

InvestorDaily

Investors everywhere drew hope from the announcement of a potential vaccine – but they shouldn’t count their chickens before they’ve hatched. Biotech company Moderna has reported promising results in clinical trials of its mRNA-1273 vaccine against COVID-19, with subjects demonstrating similar levels of antibodies against the virus as those who have recovered from it. “When combined with the success in preventing viral replication in the lungs of a pre-clinical challenge model at a dose that elicited similar levels of neutralizing antibodies, these data substantiate our belief that mRNA-1273 has the potential to prevent COVID-19 disease and advance our ability to select a dose for pivotal trials,” said Dr Tal Zaks, chief medical officer at Moderna.

Also promising is the fact that subjects tolerated the vaccine well, with no serious adverse effects detected. Moderna is now moving “as fast as safely possible” to start its phase three study and is investing to scale up manufacturing to maximise the number of doses it can produce “to help protect as many people as (it) can from SARS-CoV-2”. The Dow surged 912 points as the news spread, while the S&P 500 rose by 3.2 per cent and the Nasdaq was up 2.4 per cent. The ASX was up 2.6 per cent in opening trade. Forecasts for the post-COVID world are often characterised by the lingering economic threats of both renewed lockdowns and social distancing measures. A vaccine could change all of that.

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

Morningstar acquires Sustainalytics

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

InvestorDaily

One of the leading providers of investment research has broadened its push into ESG analysis with a new acquisition. Morningstar has reached an agreement to acquire Sustainalytics. It currently owns a 40 per cent stake in the business, acquired in 2017, and will purchase the remaining 60 per cent upon closing the transaction. “Modern investors in public and private markets are demanding ESG data, research, ratings, and solutions in order to make informed, meaningful investing decisions,” said Morningstar CEO Kunal Kapoor.

“From climate change to supply-chain practices, the nature of the investment process is evolving and shining a spotlight on demand for stakeholder capitalism. Whether assessing the durability of a company’s economic moat or the stability of its credit rating, this is the future of long-term investing.” Morningstar and Sustainalytics have previously worked together on a sustainability rating for funds, a global sustainability index family, and a large span of sustainable portfolio analytics that includes carbon metrics and “controversial product involvement data”.

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

Swiss banking giant UBS reports a 40% increase in profits

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

BusinessInsider

Swiss banking giant UBS posted a rise of 40% in net profits in the first-quarter of 2020, reflecting in part increased client activity during the nascent stages of the coronavirus pandemic. The bank, known for catering to wealthy clients, reported a net profit of $US1.6 billion in the quarter ended March 2020, up some 40% compared to the same period last year, and said it was able to support clients with “advice, credit and liquidity at the time they need it the most.” The Swiss bank’s optimistic results come at a time when the coronavirus pandemic has halted businesses around the world and put pressure on banks as customers have reduced non-essential transactions.

Here are some key metrics versus Bloomberg estimates:

  • Adjusted earnings per share: $US0.53 per share versus $US0.40 expected.
  • Net income: $US1.6 billion versus $US1.1 billion expected.
  • Pre-tax profit: $US2 billion versus $US1.8 billion.

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

Investment Manager Makes Executive Appointments

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

InvestorDaily

A global investment manager has made a number of senior leadership appointments across the Asia-Pacific region and its Japan business. Schroders country head of Australia Chris Durack and country head of Singapore Susan Soh will succeed Lieven Debruyne as co-heads of Asia Pacific, effective Q2 2020. They will also retain their respective roles.

Noriaki Kurose will join Schroders as Japan country head. Mr Kurose previously held the position of managing director and board member of Pictet Asset Management’s Japan business. He succeeds Shigesuke Kashiwagi. “I am pleased to hand over leadership of the APAC business to established senior leaders Chris Durack and Susan Soh,” said Mr Debruyne.

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

 

Our clients include

* Prior invoiced clients across the region.