Weekly Scoreboard*
Former ABN bankers start asset management firm
AMSTERDAM (Reuters) - Former employees of Dutch bank ABN AMRO have set up their own asset management firm in the Netherlands and Britain, the new company said on Friday.
Michael Jackson’s death could benefit Dutch fund
AMSTERDAM (Reuters) - For Dutch pension fund ABP, Michael Jackson’s death could be good for business.
FSA unveils new structure to beat bank crises
LONDON (Reuters) - The Financial Services Authority on Thursday unveiled a new structure designed to help it tackle banking crises more effectively.
Jabre eyes ‘bombed out’ stocks
LONDON (Reuters) - Many stocks in heavily discounted sectors such as banks and industrials still look cheap, says hedge fund manager Philippe Jabre, although he has trimmed his large weighting in equities after the recent rally.
Hedge fund firm TCI’s profits surge
LONDON (Reuters) - Activist hedge fund firm TCI, which launched an attack on ABN AMRO in 2007 that helped trigger the Dutch bank’s sale, has seen profits surge 73 percent but warned this year will be tougher.
Food security fears drive fund farm investments
LONDON (Reuters) - Funds are increasingly looking to invest in farmland as a rising global population and changing diets lead to growing demand for food crops.
Stocks Finish Sharply Lower, Weighed Down by Commodity, Transportation, Construction, Healthcare and REIT Shares
Stocks Sharply Lower into Final Hour on More Shorting, Profit-Taking, Rising Economic Fear, Increasing Financial Sector Pessimism
What to make of the Bank of America board?
The Bank of America board is morphing. Ken Lewis was stripped of his chairman title, making way for Walter Massey. Several old-guard directors have transitioned off. But one commentator on TheStreet.com suggests that more big changes may be in store and that Lewis will step down as CEO sometime between September and February. That’s quite a prediction.
Some of this depends perhaps on the proposals to grant shareholders direct access to the proxy go through, as many expect. A new slate of directors may prod other old-guard directors to step down. “Why would you stick around and go through that public humiliation? Better to leave now on your own terms.” Massey seems to be a short-timer as chairman. He’s 71 and the board has a mandatory retirement age of 72. We’ll have to see how he works the board between now and retirement. So what do you think? Will we ever have a truly independent Bank of America board?
For more:
- here’s the article
Related Articles:
The big mystery surrounding Ken Lewis
Ken Lewis treads a fine line
Analysts turn bullish on Bank of America
Big question looms for Bank of America’s new board