Asset Management

Third Street Partners Expands Talent Strategy Business with Addition of 35-year Industry Veteran

Retrieved on: 
Wednesday, May 1, 2024
Asset Management, Professional Services, Human Resources, Finance, Marketing, Schroders, Head, Fidelity, Investment, Bank, News, Bank of America, CFA, Strategic planning

With a career spanning over 35 years in financial services, Sims has extensive experience in building and leading high-performance teams, driving growth and implementing strategic initiatives.

Key Points: 
  • With a career spanning over 35 years in financial services, Sims has extensive experience in building and leading high-performance teams, driving growth and implementing strategic initiatives.
  • In this new role, Carter will provide clients and prospects with a broadened view of the industry, helping them navigate the evolving landscape of the asset management industry and work with them to achieve their business objectives.
  • I’m looking forward to working closely with clients to help them navigate this landscape and achieve their strategic goals."
  • Sims’ appointment follows recent news of Third Street Partners hiring Louis Demetro to spearhead the firm’s alternative asset management practice in the U.S., further expanding the firm’s capabilities in the asset management industry.

Office Properties Income Trust Announces Private Exchange Offers Relating to Existing Unsecured Senior Notes

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, REIT, Sale, Exchange offer, OPI, Settlement date, Depreciation, Security (finance), Exchange, Expiration, Circular reference, Information, Regulation, Letter, GAAP, ATTN:, Note

An Eligible Holder (as defined below) must tender all of its Existing 2025 Notes in the Exchange Offers in order to participate in the Exchange Offers.

Key Points: 
  • An Eligible Holder (as defined below) must tender all of its Existing 2025 Notes in the Exchange Offers in order to participate in the Exchange Offers.
  • An Eligible Holder may withdraw Existing 2025 Notes from an Exchange Offer only if it validly withdraws all its Existing 2025 Notes from such Exchange Offer and also validly withdraws its tender of all other Existing Notes from the applicable Exchange Offers.
  • Holders of Existing Notes who wish to receive a copy of the eligibility letters for the Exchange Offers may contact the information and exchange agent, D.F.
  • The Existing Notes that are not exchanged will continue to be outstanding in accordance with all other terms of the Existing Notes and the indentures governing such Existing Notes.

Deluxe Reports First Quarter 2024 Results; Raises Full-Year Free Cash Flow Outlook

Retrieved on: 
Wednesday, May 1, 2024
Software, Payments, Finance, Asset Management, Data Management, Professional Services, Technology, Fintech, Comparable, Deluxe, EPS

Comparable adjusted revenue, reflecting the removal of business exits, increased 1.2% compared to the previous year.

Key Points: 
  • Comparable adjusted revenue, reflecting the removal of business exits, increased 1.2% compared to the previous year.
  • Net income of $10.8 million was up from $2.8 million in the first quarter of 2023, primarily reflecting gains on business exits and expense management.
  • The dividend will be payable on June 3, 2024, to shareholders of record as of market closing on May 20, 2024.
  • ET through midnight on May 8, 2024, by dialing 1-800-770-2030 (access code 7092711).

Ares Management Corporation Reports First Quarter 2024 Results

Retrieved on: 
Thursday, May 2, 2024
Asset Management, Professional Services, Finance, Webcast, Dividend, ID, International, Home, ARES, Telephone, GAAP, Growth, Eastern Time Zone, Holding company

Ares Management Corporation (NYSE:ARES) today reported its financial results for its first quarter ended March 31, 2024.

Key Points: 
  • Ares Management Corporation (NYSE:ARES) today reported its financial results for its first quarter ended March 31, 2024.
  • GAAP net income attributable to Ares Management Corporation was $73.0 million for the quarter ended March 31, 2024.
  • On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.33 for the quarter ended March 31, 2024.
  • The presentation is titled “First Quarter 2024 Earnings Presentation.”
    Ares will host a conference call on May 2, 2024 at 11:00 a.m. (Eastern Time) to discuss first quarter results.

MetLife Announces New $3 Billion Share Repurchase Authorization

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Insurance, Finance, Asset Management, Consulting, Banking, Share repurchase, MET, Growth, MetLife

MetLife, Inc. (NYSE: MET) today announced that its board of directors has approved a new $3 billion authorization for the company to repurchase its common stock.

Key Points: 
  • MetLife, Inc. (NYSE: MET) today announced that its board of directors has approved a new $3 billion authorization for the company to repurchase its common stock.
  • The new authorization is incremental to the approximately $600 million remaining at the end of April 2024 under the company’s prior authorization announced in May 2023.
  • “This $3 billion addition to our share repurchase authorization, combined with the common stock dividend increase we announced in April, demonstrates our commitment to returning capital to shareholders, which is carefully balanced with investing in responsible growth for the future,” said MetLife President and CEO Michel Khalaf.
  • “Our disciplined approach directs capital to the highest value opportunities and drives long-term shareholder value.”

Berkshire Hathaway Inc. Information Regarding First Quarter Earnings Release and 2024 Annual Shareholders Meeting

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Other Retail, Media, Other Energy, Other Manufacturing, Utilities, Rail, Energy, Transport, Food, Beverage, Business, Communications, Manufacturing, Retail, Insurance, Finance, Asset Management, Annual, Internet, CNBC, Form 10-Q, Webcast, Berkshire Hathaway

(BRK.A; BRK.B) – Berkshire Hathaway Inc.’s first quarter earnings release and its quarterly report on Form 10-Q will be posted on the Internet on Saturday, May 4, 2024, at approximately 7:00 a.m. Central time where it can be accessed at www.berkshirehathaway.com .

Key Points: 
  • (BRK.A; BRK.B) – Berkshire Hathaway Inc.’s first quarter earnings release and its quarterly report on Form 10-Q will be posted on the Internet on Saturday, May 4, 2024, at approximately 7:00 a.m. Central time where it can be accessed at www.berkshirehathaway.com .
  • Berkshire Hathaway will hold its 2024 Annual Shareholders Meeting on Saturday May 4, 2024.
  • The broadcast on CNBC and webcast will begin at 8:30 a.m. Central time and at 8:45 a.m. will feature Berkshire’s Annual Meeting movie.
  • In prior years the Annual Meeting movie was only seen by those in attendance at the meeting in Omaha.

Northern Trust Survey: Asset Managers Pursue ‘Right Product, Right Fit’ Strategy to Drive Distribution

Retrieved on: 
Wednesday, May 1, 2024
Networks, Data Analytics, Finance, Asset Management, Banking, Data Management, Professional Services, Technology, Data management, GFS, Data, Ageing, T+1

Investment managers are prioritizing the quality and accuracy of their products to enhance the investor experience and grow their distribution in the next two years, according to a survey of 300 global asset management firms sponsored by Northern Trust.

Key Points: 
  • Investment managers are prioritizing the quality and accuracy of their products to enhance the investor experience and grow their distribution in the next two years, according to a survey of 300 global asset management firms sponsored by Northern Trust.
  • Northern Trust today issued a white paper, The Next Chapter in Driving Growth in Asset Management 2024 , that illustrates how asset managers are enhancing the investor experience through increased quality and accuracy, targeted distribution strategies, better data management and outsourcing.
  • “Asset managers are focused on honing their distribution channels, and having access to high-quality, consistent data is crucial in driving those decisions,” said Ryan Burns, Head of Global Fund Services (GFS), North America.
  • “As a result, managers are looking to leverage new technology, and the survey found that many managers are looking to enhance their data management strategies by engaging their custodians for outsourced solutions.”

The Marygold Companies’ Subsidiary, Marygold & Co. (UK), Acquires UK-Based Financial Advisory Firm

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Finance, Asset Management, Fintech, Consulting, Banking, Personal Finance, Acquisition, SBS, Marigold, Gerber, Financial services

The Marygold Companies, Inc. (“TMC,” or the “Company”) (NYSE American: MGLD), a diversified global holding firm, today announced that its wholly owned subsidiary, Marygold & Co. (UK) Limited, has completed the acquisition of Step-By-Step Financial Planners Limited (“SBS”), an investment advisory firm based in Rugeley, Staffordshire, England.

Key Points: 
  • The Marygold Companies, Inc. (“TMC,” or the “Company”) (NYSE American: MGLD), a diversified global holding firm, today announced that its wholly owned subsidiary, Marygold & Co. (UK) Limited, has completed the acquisition of Step-By-Step Financial Planners Limited (“SBS”), an investment advisory firm based in Rugeley, Staffordshire, England.
  • SBS has approximately US$33.7 million (£27 million) in assets under management and provides a full range of financial advisory services to individuals and companies across a diverse product range, including wealth management.
  • Kevin Pratt, the founder of SBS, and his team will continue with the company and provide ongoing advice and continuity to the clients.
  • “It represents the second acquisition completed by Marygold & Co. (UK), following the purchase in 2022 of UK-based financial advisory firm Tiger Financial & Asset Management Limited.

Genworth Financial Announces First Quarter 2024 Results

Retrieved on: 
Wednesday, May 1, 2024
Finance, Consulting, Professional Services, Asset Management, Insurance, Tax, LTC, Enactment

Net income in the quarter was driven by Enact, which had very strong operating performance, as well as positive LTC earnings, partially offset by losses in Corporate and Other

Key Points: 
  • Net income in the quarter was driven by Enact, which had very strong operating performance, as well as positive LTC earnings, partially offset by losses in Corporate and Other
    Net investment gains, net of taxes, increased net income by $39 million in the current quarter, compared with net investment gains of $30 million in the prior quarter and net investment losses of $9 million in the prior year.
  • The investment gains in the current quarter were driven primarily by mark-to-market adjustments on limited partnerships and equity securities, partially offset by net trading losses
    Changes in the fair value of market risk benefits, net of taxes, increased net income by $18 million in the quarter driven primarily by the favorable change in the interest rate yield curve, compared with decreases of $11 million in the prior quarter and $13 million in the prior year
    Net investment income was $782 million in the quarter, down from $810 million in the prior quarter primarily driven by lower income from limited partnerships

JPMorgan Chase Files Form 10-Q for the Quarter Ended March 31, 2024

Retrieved on: 
Wednesday, May 1, 2024
Banking, Asset Management, Professional Services, Finance, Chase, J. P. Morgan, JPMorgan Chase, Government, JPM

JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) has filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 with the SEC.

Key Points: 
  • JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) has filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 with the SEC.
  • JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide.
  • JPMorgan Chase had $4.1 trillion in assets and $337 billion in stockholders’ equity as of March 31, 2024.
  • Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com .