Global

GLOBAL - Allianz chairman Henning Schulte-Noelle is upbeat about the firm's prospects in pensions and fund management, despite seeing Allianz Dresdner Asset Management (ADAM) make a EUR348m loss during 2001.

GLOBAL - The question of the day is will growth re-establish a leadership role in the market?', according to State Street global Advisors (SSgA).

SWITZERLAND - Zurich Financial Services chairman Rolf Hüppi has announced that he is resigning in order to give the incoming new management a fresh start.

GLOBAL - Experts at State Street Global Advisors (SSgA) are predicting a calm 2002, hailing a return to "normal" market performance for 2003.

GLOBAL - Global hedge fund assets are expected to grow by 26% in 2002 to $760bn, but European and US institutional investors still appear wary, according to a new survey from Goldman Sachs.

GLOBAL - David Spina, State Street's chairman and chief executive officer, is optimistic about the firm's prospects following the Boston-based firm's "excellent" 5% rise in first quarter revenues.

GLOBAL — Merrill Lynch's fund management division recorded "a significant improvement" in profitability during the first quarter of 2002, posting pre-tax earnings of $117m, said the firm.

GLOBAL - JP Morgan Chase has seen its first quarter operating earnings rise dramatically standing at $1.15bn, compared to the $356m registered in the last three months of 2001.

GLOBAL - Northern Trust Corporation has become the latest multinational to oust accountants Arthur Andersen as its auditors.

GLOBAL - Beleaguered auditing giant Andersen is to merge with Deloitte & Touche in the UK after talks about a global merger with KPMG collapsed.