THE BANK of New York and Mellon Financial are set to merge - a move that will create the world's largest global securities servicing firm.
The new firm – which will be called The Bank of New York Mellon Corporation – will have $16.6trn (£8.39trn) in assets under custody and $8trn (£4.04trn) in assets under trusteeship. It will also rank...
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.