w/c 26 September
By Adam Cadle
State Street Corporation has entered into an agreement to acquire Pulse Trading, a national brokerage firm offering a range of services to meet the demands of institutional investors. The transaction includes the acquisition of Pulse Trading’s institutional equities business and around 40 employees in Boston, New York, St. Louis and San Francisco and is expected to be completed in the fourth quarter of 2011.
Societe Generale Securities Services (SGSS) has extended its clearing licence with SIX x-clear, the clearing entity of SIX Securities and as a result has become a General Clearing Member on UBS MTF, the multilateral trading facility.
Mercer is expanding its business in Scotland and moving to new offices at the Quartermile One development in Edinburgh. The company will relocate in November to accommodate new team members, integrate multi-disciplinary teams more effectively and provide more streamlined services. Mercer’s team in Edinburgh comprises of nearly 100 pensions, investments and benefits professionals.
M&G Investments institutional fund managers have started to move their portfolios back into high yield for the first time since 2009. The company said that European high yield bonds now offer better value than investment grade bonds.
Other stories you may find of interest:
EC chooses Hewitt to carry out pan-European pension fund study
The European Commission has selected Hewitt Associates to conduct a feasibility study and advise on the establishment of a pan-European pension fund for researchers
Sophie Baker
The Universities Superannuation Scheme (USS) has chosen UBS Global Asset Management - Fund Services to provide hedge fund of funds administration services
EC's OTC Derivatives consultation met largely with praise from industry
The Investment Management Association (IMA) has welcomed the European Commission's consultation of OTC Derivatives, which aims to improve market infrastructure and to ensure an efficient, safe and robust derivatives market
