OTP Bank Romania has signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP Bank Romania has become the distributor and payment agent in Romania for mutual investment funds managed by Eurobank Fund Management. “The partnership with Eurobank Fund Management Company is an opportunity to grow OTP Bank Romania’s portfolio, both in terms of investment products and number of investors. Currently, the bank distributes over 50 open-end investment funds managed by renowned asset management companies, and through this partnership we will be able to offer our clients a comprehensive range of investment alternatives,” stated Corina Stoica, director Private Banking and Financial Advice Division, OTP Bank Romania. The distributed funds are handled by investment management companies in Romania, such as OTP Asset Management SAI SA and in Luxembourg, such as NN Investment Partners or … [Read more...] about OTP Bank signs a partnership with Eurobank for the distribution of investment funds in Romania
Open ended investment companies
Finance Minister Albayrak holds meetings with largest US investment companies, banks
Treasury and Finance Minister Berat Albayrak pursued intense economic and financial diplomacy in New York, where he also attended opening of the 73rd session of the U.N. General Assembly this week. On Thursday, Albayrak held meetings with the largest U.S. investment companies, including Stone Harbor, Alliance Bernstein, Massachusetts Financial Services, Neuberger Berman, Wellington Management, NWI Management, Lazard, PGIM and Invesco, and the banking giants such as Citibank, JP Morgan and Goldman Sachs. The individual meetings with each investment company or bank were attended by CEOs and chairmen in charge of developing countries. The total assets managed by the investment companies joining the meetings amounted to $5 trillion. Albayrak also met with Cyril Muller, the World Bank's vice president in charge of Europe and Central Asia. "We have prepared our road map and will implement it with determination," Albayrak said, responding to questions about Turkey in the meeting that was held … [Read more...] about Finance Minister Albayrak holds meetings with largest US investment companies, banks
Details of takeover bid revealed as FSG remain open to investment
Fenway Sports Group have reiterated that Liverpool FC is not for sale after a proposed £2billion takeover of the club failed. However, the Reds' American owners remain open to the idea of selling a minority stake in return for the right investment. It has emerged that Abu Dhabi-based Sheik Khaled Bin Zayed Al Nehayan, the cousin of Manchester City owner Sheik Mansour, tried to buy Liverpool earlier this year. The £2billion offer would have been the most expensive takeover in the history of football with Midhat Kidwai, the managing director of Sheik Khaled's conglomerate of companies, meeting Liverpool chairman Tom Werner in New York. The Mail report that the buyout that would have been a joint venture between Sheik Khaled and a minority stake Chinese partner. FSG admit there was interest but have played down the significance of the discussions that took place. Liverpool's owners use the services of Allen & Company, a New York-based boutique investment bank, to vet and … [Read more...] about Details of takeover bid revealed as FSG remain open to investment
It’s not socialist extremism to state a company has wider responsibilities than making profits
Last week Jeremy Corbyn delivered one of his trademark denunciations of the greed and short-sightedness of British capitalism. “Being a company director, and in particular a chief executive, requires more [than just commercial success],” he told an audience of young socialist activists. “It requires a broader context. It requires a personal motivation that goes beyond simply amassing a fortune. It requires an understanding of where the company sits within the society within which it operates.” Actually, that’s not true. Those words didn’t come out of the mouth of Labour’s leader. They were said by Euan Stirling, global head of stewardship at the giant UK fund manager Aberdeen Standard Investment. And Stirling wasn’t addressing a Momentum rally, but rather the annual general meeting of the house builder Persimmon, whose board notoriously created a £100m bonus scheme for its chief executive, Jeff Fairburn. Read more Persimmon … [Read more...] about It’s not socialist extremism to state a company has wider responsibilities than making profits
Hinckley MP welcomes flooring company
Hinckley's MP welcomed national firm UK Flooring Direct to the town at the official opening of the company’s new HQ. David Tredinnick MP cut the ribbon at the new HQ at Hinckley Commercial Park and welcomed the firm’s commitment to creating dozens of new jobs in the area. The company, which moved from Exhall to Hinckley, recently announced it was creating 20 new jobs initially with a further 50 to follow – and already 12 posts have been filled by the firm, which sells a range of flooring to customers across the country. Mr Tredinnick was welcomed to the business by CEO Jason Ashby, who founded the company in 2005 and is aiming to take it to £100 million turnover in the next four years. The MP said: “It is great to visit a company that has moved into Hinckley, is investing here and creating jobs. “Jason and the team are doing a great job and are expanding quickly. “I was particularly interested to hear how they are striving to take on new staff … [Read more...] about Hinckley MP welcomes flooring company