trending Market Intelligence /marketintelligence/en/news-insights/trending/tn-jzoikx9ig5-ls4nurha2 content esgSubNav
In This List

Blackstone eyeing NZ-based finance firm; fintech firm Moven to buy bank in US

Blog

Using ESG Analysis to Support a Sustainable Future

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook


Blackstone eyeing NZ-based finance firm; fintech firm Moven to buy bank in US

Asset management firm Blackstone Group LP is now included in the list of potential buyers for UDC Finance Ltd., a unit of Australia & New Zealand Banking Group Ltd., "sources in the market" told The Australian.

Separately, Goldman Sachs Group Inc. reportedly landed a role in the proposed IPO of Colonial First State Global Asset Management. Goldman Sachs will join JPMorgan Chase & Co. and UBS Group AG in managing the potential listing of the Commonwealth Bank of Australia unit, which is likely to launch late this year, The Australian writes.

In Brexit-planning news, Morgan Stanley President Colm Kelleher said that the company will take a multi-centered approach that includes Frankfurt, Paris and Dublin, Bloomberg News reports. Kelleher added that the company will make decisions on staff relocations "very early" in 2018. A "person with knowledge of the decision" told the news agency that the investment bank will move 300 jobs from London, 200 of which will go to its main legal center in Frankfurt and the remaining 100 to other cities. Earlier this month, Bloomberg reported that Morgan Stanley had recently begun advertising for new jobs in the German city.

Two former advisers at Morgan Stanley pleaded guilty to defrauding clients, Reuters reports, citing federal prosecutors. James Polese and Cornelius Peterson admitted to using, without permission, $500,000 from the accounts of two clients to invest in a wind farm project.

In other people news, KeyCorp hired Clark Khayat as executive vice president and chief strategy officer.

In Michigan, Honor CU of Berrien Springs and Citizens State Bank of Ontonagon have terminated their proposed merger, the Credit Union Times reports.

Fintech company Moven is planning to form a Japan-based joint venture and acquire a U.S. bank, American Banker reports. Moven will divide itself into two — a software provider called Moven Enterprise and a bank to be branded MovenBank.

In other parts of the world

Asia-Pacific: South Korea files charges against 5 banks; Chinese bank raises 2.53B yuan in IPO

Europe: Telefónica hit dents BBVA's Q4'17 profit; EU-wide bank stress test launched

Middle East & Africa: Capitec shares fall after Viceroy report; Commercial Bank sets focus on Turkey

The day ahead

Early morning futures indicators pointed to a mixed opening for the U.S. market.

In Asia, the Hang Seng was down 0.75% to 32,642.09, while the Nikkei 225 rose 1.68% to 23,486.11.

In Europe, as of midday, the FTSE 100 slid 0.03% to 7,531.36, while the Euronext 100 was up 0.38% to 1,067.00.

On the macro front

The motor vehicle sales report, the Market Focus report, the jobless claims report, the PMI Manufacturing index, the ISM manufacturing index, the EIA natural gas report, the Fed balance sheet and the money supply report are due out today.

The Daily Dose is updated as of 7:30 a.m. ET. Some external links may require a subscription.