The News Review:
- China’s Ping An Insurance, Fortis finalize global asset management…
- Rathbone Brothers completes acquisition of Citywall Financial Manageme…
- Credit Suisse names Robert Shafir as new CEO of asset management divis…
- India’s Bharti AXA says gets regulatory approval for asset managem…
- Bombardier wins framework contract for rail management system in…
- Indian cos focusing on risk management
- Nigeria: Union Slams NNN Management
China’s Ping An Insurance, Fortis finalize global asset management…
Forbes – Apr 2, 2008
15 bln eur, payable in cash on completion of the transaction. Fortis Investment will also be renamed Fortis Ping An Investments, the company said. The transaction is subject to regulatory approvals and is expected to close at the end of the second quarter or early in the third quarter of 2008, it said. The final deal followed a memorandum of understanding (MOU) signed on March 19 by the two sides to form a global asset management partnership.
Related: China hires global PR agency before Games
Rathbone Brothers completes acquisition of Citywall Financial Manageme…
Forbes – Apr 2, 2008
said it has completed the acquisition of wealth management firm Citywall Financial Management Ltd, the gross assets of which total 668,011 pounds. Financial details of the deal were not provided.
Credit Suisse names Robert Shafir as new CEO of asset management divis…
Forbes – Apr 2, 2008
Blumer will join Swiss Re as head of financial markets, replacing Roger Ferguson, effective from May 2008, the reinsurance group said in a separate statement. Robert Shafir assumes his new responsibilities as of today, and will also continue in his current role as CEO of the Americas region, Credit Suisse said.
India’s Bharti AXA says gets regulatory approval for asset managem…
Forbes – Apr 2, 2008
Bharti AXA Investment Managers is a joint venture between Bharti Ventures and AXA Group companies, AXA Investment Managers and AXA Asia Pacific Holdings Ltd. In a release Sandeep Dasgupta, chief executive at Bharti AXA Investment Managers, said: ‘We have already hired all the key personnel.
Bombardier wins framework contract for rail management system in…
Forbes – Apr 2, 2008
, said it has won a contract to roll out its European Rail Traffic Management System in Scandinavia, which is worth about 30 million euros in the first year. The order from the Swedish Rail Administration, Banverket and the Norwegian National Rail Administration, Jernbaneverket, is part of a framework agreement for onboard systems on all new and retrofitted vehicles in Sweden and Norway, Bombardier said in a statement. The total value of the eight-year framework agreement is about 200 million euros, it said.
Indian cos focusing on risk management
Times of India – Apr 2, 2008
ERM is a cohesive,
enterprise-wide process allowing companies to identify, assess and respond to
the social, political and economic risks of doing business. The report by The Conference
Board, a leading business research organisation, examines the state of risk
management integration in companies based in India, and includes case studies of
four major India-based multinational firms: Tata Motors Ltd, ICICI Bank, Tata
Chemicals Ltd, and Dr Reddy’s. “ERM is in the very early
stages in India,” says Matteo Tonello, Senior Research Associate at The
Conference Board Governance Center, and a co-author of the report. “As Indian
firms expand beyond national borders, they become exposed to more strategic and
operational risks, including those from different geopolitical and cultural
contexts.
Nigeria: Union Slams NNN Management
AllAfrica.com – Apr 2, 2008
In a communiqué which was made available to LEADERSHIP in Kaduna, after its congress, the union saw management’s failures as a big disaster that is affecting and negating the good working spirit of staff who have been giving their best despite the harsh conditions under which members of staff have been working. GA_googleFillSlot(“AllAfrica_Story_Inset”); Among the failures of the management were, non-compliance with the federal government’s directives on salary increase saying "It is unedifying to note that the company, despite federal government’s salary review for workers, still pays workers seven thousand, five hundred naira (minimum salary) The last increments of twelve 12. 5% and 15 % respectively have not been implemented, and presently staff are owed two months’ salaries". The communiqué which was signed by both union chairmen Bulama Mustapha and Akpus John, also maintained that workers who had retired upon the attainment of retirement age of sixty years or thirty-five years of service are not being paid their gratuity or pension.
Related: Nigeria: Privatisation – Aviation Workers Threaten to Shut Down…