Citigroup’s investment banking push reaps dividends

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

Brett Cole

Citigroup looks to be making headway in its efforts to build its investment banking franchise into the type of competitor that would make Macquarie, UBS and Goldman Sachs treat it as a serious rival.

Bolstered by a pick up in deal making, Citi is now ranked fourth on the Australian merger and acquisition league table, up from sixth for the same period in 2013, according to Bloomberg data. Pending and completed M&A transactions have reached $US52.8 billion so far this year in Australia, compared with $US28.2bn for the same period last year, according to Bloomberg.


Local market backs China gold exchange

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

Bianca Harge-Hazelman

Australian gold producers, traders and the domestic economy could be among the big winners if China moves ahead and opens up the world’s biggest gold exchange.

The Shanghai Gold Exchange (SGE) is understood to have received approval last week from the Chinese central bank to launch a global trading platform in the city’s pilot free trade zone, a move that could challenge the dominance of New York and London in gold trade and pricing.


Jobs under threat as IAG plans restructure

Posted by Anton Murray Consulting on . Posted in News

Ruth Liew

Insurance Australia Group is overhauling its operating model in Australia as the company prepares to absorb the $1.85 billion Wesfarmers insurance acquisition into its fold, with the changes likely leading to job losses.

IAG’s new model will span three divisions – personal insurance, commercial insurance and enterprise operations. The changes, which take effect from July 1, means the units will share certain support functions including administration, human resources, technology and finance, an IAG spokesman said.


Chinese lending rules weigh on iron ore, copper

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

Lisa Murray and Angus Grigg

China is expected to introduce tough new regulations on commodity-backed finance deals some time in the next week, a move that is weighing on the price of copper and iron ore.

State-owned newspaper, the 21st Century Business Herald, said on Wednesday 31 per cent of China’s iron ore stockpile is currently being used for collateral to raise finance, citing an unnamed industry expert. At April 25, China’s stockpile stood at a record 113 million tonnes.


Winton brings its brainiacs to Australia

Posted by Anton Murray Consulting on . Posted in Funds Management News

Investor Strategy News

Winton Capital Group, the UK-based quant shop, has opened its Sydney office as part of a global expansion program for this year. Offices in Tokyo and New York are to follow.

As previously reported, Winton has tapped Platinum Asset Management for its Australian rep – Andy Grimes. Before Platinum, where he had been an institutional investment specialist for the past five years, Grimes was a consultant at Towers Watson and, before that, at McKinsey & Co.


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