The combined business would oversee funds of close to $700 billion, although no formal agreement has been reached, the source added.
The investment program aims to expand client service and industry capabilities in select strategic markets, bolster the hiring and deployment of top talent, and cultivate innovative new services and multidisciplinary offerings.
The firm currently has no plans to sell the business or a minority stake in it, said one of the people, who asked to remain anonymous because the talks were private.
Hedge funds curbed bullish bets on commodities for a third consecutive month, the longest retreat since the global recession, as Europe’s worsening debt crisis and slowing US job growth sent prices tumbling.
he Custody Risk Americas Awards recognize outstanding achievers in the securities services industry in both North and South America. The selection criteria included an evaluation of client wins and renewals, outsourcing services provided and innovations
This methodology results in concrete next steps for plans across different mind sets to execute their strategy, potentially improve their fiduciary process, and drive better outcomes.
Global issuances of Islamic Bonds, known as Sukuk, surged 55 percent year-on-year in the first quarter of 2012, reaching 43.5 billion U.S. dollars, according to market research agency Zawya.