Asset management

The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."

TCW is launching a real estate debt strategy as it seeks to grow its alternatives business and compete with other money managers moving into the $1.6 trillion private credit industry.

Clients have been yanking their cash since the Pasadena, California-based company said on Aug. 21 that Leech was going on leave after he received a notice from the SEC that it may recommend enforcement action.

With Theorem, Pagaya's fund management business is expected to grow to more than $3 billion of capital

A robust selection of securitized products, including ABS, CMBS, CLOs, and agency and non-agency MBS, will be included in the new fund.

The U.K. manager's assets have declined from peak of nearly $20 billion before a spate of 2020 losses.

Nearly a quarter of respondents in North America this year said sustainability is a primary or secondary objective, compared to 37% who said the same last year, according to an HSBC survey of professionals in roles related to ESG decision making.

It has to wrestle with how the Federal Reserve's rate increases are crimping dealmaking, raising the cost of borrowing and ending a period of rapid growth.

Deals, trends and research in structured finance and asset-backed securities for the week of March 19-25

The Athene acquisition completes a process that Rowan – who succeeds Black as CEO no later than July – started in 2009, when he created the annuity business so that it would send vast sums of cash to Apollo for investments

Wells Fargo plans to sell its asset management business to two private equity firms, part of Chief Executive Charlie Scharf's efforts to dump nonessential operations and help the bank emerge from years of scandals.

Wells Fargo, reeling from years of scandals, is unloading several businesses as it seeks to simplify its structure. The sale of the asset management unit could fetch more than $3 billion, according to industry sources.

Wells Fargo is exploring the sale of its asset management unit, a business that could fetch more than $3 billion, according to a person briefed on the matter.

Apollo Global Management Inc. board members are investigating co-founder Leon Black’s ties to disgraced financier Jeffrey Epstein after more information emerged this month about their longtime business dealings.

Veteran debt and equity analyst David Walker steer investment research for CIFC's $26 billion of assets under management, most of which are in long-term vehicles.

Banks and lenders have made inroads in analytics and automation with machine-learning technology. Will asset management follow suit?

The unwinding and rebuilding of the struggling portfolios of Fifth Street's business development companies could take two to three years, Oaktree management stated in an earnings call Thursday.

U.K. authorities are years away from phasing out the London Interbank Offered Rate, but Conning's Paul Norris is urging the industry to pick up the pace on alternative benchmarks now that it's a matter of "when," not "if."