Regulation
Former Asset Management Firm COO Gets 3 Years in Prison for Fraud
Richard Diver admitted that the money he stole was consumed by his ‘wild’ personal spending.
News
Alternatives
Private Equity Goes on a Warehouse Buying Binge
Blackstone, KKR, and other PE players ride a trend propelled by ecommerce’s expansion.
Corporate Moves
CIEBA Selects New Chair and Increases Membership Despite COVID-19
Paul Cavazos, CIO of American Beacon Advisors, takes the helm.
Regulation
DOL Eases Overly Prescriptive Stance in Final Proxy Voting Rule
It’s unclear how the rule will be interpreted and enforced after the federal administration changes hands, experts say.
Regulation
Court Rules Pensions Can’t Exist in a State of Limbo
In ‘most unusual case,’ judges back PBGC and find that someone must be held responsible for a pension even if the sponsor is long gone.
BlackRock to Double Down on Climate Offenders in 2021
The firm will boost shareholder challenges in 2021 over sustainability issues and expand its probes to twice as many companies as before.
Corporate Moves
Exclusive: Deloitte CIO Mary Ellen Stocks Retires after 16 Years in the Post
Alex Lee, who has been her No. 2, takes over the top finance slot.
Regulation
UK Hedge Fund Manager to Pay $170 Million to Settle SEC Charges
BlueCrest Capital Management allegedly misled investors about replacing traders with an underperforming algorithm.
Pensions
Danish Pension Fund PKA Launches $3.5 Billion Private Equity Fund
PKA Private Funds IV is part of the pension’s strategy to invest in unlisted growth companies.
Market Moves
Finally, Financial Stocks Are Poised to Rise, Says Credit Suisse
A better economy and higher interest rates should propel the woebegone sector in 2021 and 2022, it argues.
Asset Management Culture
New York State Pension Fund Aims to Be Carbon Net Zero by 2040
The $226 billion Common Retirement Fund joins other institutional investors in following the Paris Agreement’s targets.
Asset Management Culture
4 Public Pension Funding Strategies Besides Employer Contributions
Issuing bonds or tapping gambling revenues are among the methods some states adopt, the National Institute on Retirement Security finds.
Market Moves
‘No End in Sight’ to Government Spending, Gundlach Says
Bond King says that output will bring much more Treasury issuance, and the Fed’s buying a lot of it.
Risk
Head of Norway’s Wealth Fund Resigns Over Security Clearance Denial
Norges Bank’s deputy governor said his clearance was rejected because he has a wife who lives in China.
Coronavirus - COVID-19
A Look Ahead to 2021: Institutional Investors Brace for a Bumpy Road
The majority of global allocators are planning defensive strategies, expecting slides in everything from stocks to SPACs, a Natixis survey says.