INCLUDING: US - State Street acquires FinancialSockets; HONG KONG - LaSalle appoints CEO; UK - Research Oracle launched
State Street Corporation has expanded its commission management service offering, following the acquisition of FinancialSockets. The company said it could now provide a complete, end-to-end solution that enabled customers to better manage commission flows, address regulatory reporting requirements and administer commission sharing arrangements. FinancialSockets provides global commission management to asset management firms.
HONG KONG - LaSalle appoints CEO
Todd Canter has been appointed CEO of LaSalle Investment Management (Securities) Asia Pacific, the firm's securities investment management division for pension funds, institutional and retail investors around the globe. Jack Chandler remains regional CEO for LaSalle Investment Management Asia Pacific. Canter was previously based in Baltimore as international director for LaSalle Investment Management (Securities).
UK - Research Oracle launched
IIR Group plc, a provider of impartial research and strategy for global equities and currencies, has launched The Research Oracle tool. The tool is available to institutional and private investors alike and provides institutional-grade research analysis on 400 top global stocks free of charge. The service, which is already used by seven of the world's largest investment banks, is being made available as the result its online advertising model. It is available at www.researchoracle.com.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.