Swedish Pension AP7 Blacklists Oil Giant Aramco
The $115 billion fund also added six other firms to its banned roster for ‘acting against the targets of the Paris agreement.’ Most are in China.
Corporate Moves
Ackman Firm’s Projected Market Cap Is $10 billion
His Pershing Square plans a 2025 IPO, and recently sold a 10% stake worth $1 billion.
J.P. Morgan Agrees to Pay $200M to Settle CFTC Charges of Supervisory Failure
The regulator said the magnitude of data gaps in the firm’s surveillance was so large that it missed billions of orders.
Shareholder Activists Call for Removal of ExxonMobil CEO
Asset owners seek to block ExxonMobil appointments.
NYC Pensions Reach Climate Disclosure Deal With JPMorgan Chase, Citigroup, RBC
City Comptroller Brad Lander said he expects energy supply ratio disclosure will become a ‘new standard’ for the banking sector.
Cerity Partners Merges with Agility in OCIO Push
After the deal closes, Agility will be called Cerity Partners OCIO
Chris Roth Named Northern Trust Asset Management’s CIO of Global Fixed Income
Roth joins the $1.2 trillion asset manager after almost a quarter-century at Morgan Stanley.
PRT Market Headed for Another Year Over $40B, Aon Says
With Shell and Verizon both conducting large transfers in recent months, 2024 has already seen more than $10 billion.
Xponance Alts Unit Acquires Minority Stake in Copia Group
Woman-owned firm aims to invest in diverse investment companies.
MFS Investment Management Appoints Alison O’Neill as CIO
O’Neill is scheduled to take the new role January 1, 2025.
Saudi Arabia Transfers 8% of Aramco to Wealth Fund
The capital infusion into the sovereign wealth pool is meant to aid the kingdom’s bid to diversify its economy.
Exelon CIO Doug Brown to Retire, Hart to Replace Him
Brown joined from Chrysler as investment chief in late 2009.
Prudential’s Asset Management Unit Names HSBC’s Vis Nayar CIO
Nayar leaves HSBC after more than 25 years at the company.
Blackstone Hires Thomas Nides for New Vice Chairman Role
The former Morgan Stanley vice chairman, deputy secretary of state and ambassador to Israel will lead the firm’s client relations.
Crossmark CEO, President Mike Kern Steps Down; CIO Bob Doll Named Successor
Doll will take on three top roles at the faith-based investment firm.