The State Treasurer is putting ESG in the political crosshairs by divesting from an asset manager based on its environmental and sustainable approach to investing. West Virginia’s Board of Treasury Investments, which manages $8 billion in state operating funds, has dropped BlackRock money market funds from its portfolio, citing concerns over the firm’s focus on…
BNP Paribas beats quarterly expectations as equity trading rebounds France’s BNP Paribas on Friday reported a better-than-expected first-quarter profit, helped by lower provisions for pandemic-related bad loans and a rebound in its equity trading business that the bank aims to expand. The euro zone’s biggest listed lender said net profit rose 37.9% to 1.77…
Investors have put more money into stocks in the last 5 months than the previous 12 years combined. More money has gone into stock-based funds over the past five months than the previous 12 years combined, according to Bank of America. In raw numbers, $569 billion has flowed into global equity funds since November,…
European stocks weak despite tailwind from Chinese output data Economic and human cost of new Covid-19 variants weigh on investor sentiment China’s economy, the world’s second-biggest, grew 6.5% in the fourth quarter. European equity markets struggled for direction on Monday as strong economic data from China vied with concerns over a double-dip recession in…
Sold short: confessions of a young banker I had to watch each episode of “Industry”, a tv drama about young bankers, in 15-minute doses. This is no fault of the show, which is joyously binge-worthy and thoroughly deserves the second series it has just been granted. It’s because it reminded me so powerfully of my previous…
Zillennials Are Going to Change Investing Forever Eating meat is out, flight-shaming is in. Gen Z is transforming the world and investors need to be prepared. As this new cohort — “Zillennials” — comes of age it’s going to eclipse the vaunted Millennials, boost emerging markets and help preferred sectors outperform as other…
The amount of assets under management has doubled in 11 years The number of assets under management continues to increase in private banks in Luxembourg, reaching 466 billion euros, according to the ABBL. The most endowed customers are the most numerous. 85% live in Europe, of which only 21% in the Grand Duchy. The Luxembourg financial…
Three Obstacles to a UBS Credit Suisse Tie-Up Speculation about a merger of UBS and Credit Suisse is returning time and again, despite the convincing arguments that show such a move to be to the detriment of employees, shareholders and clients. The start to his new job as head of UBS must have come…
9 Things you need to seriously consider before joining a startup Interested in joining a startup? There’s a couple things you need to know first. Startups are hard. Working at a startup is equal parts addicting, rewarding, frustrating, and confusing. I should know, I’ve worked in senior roles at four different startups over the…
