Brian Bollen's Blog

BNP Paribas business drive delivers results

The just-published revenues of the Securities Services division of BNP Paribas reached EUR 476 million. This represents an increase of 14.4 percent on the back of what it says was a very good business drive.

Century up for Honeycomb

Algomi, a network company providing information-matching solutions for the optimisation of fixed income liquidity, says a 100^th buy-side firm has committed to its Honeycomb network globally.

To save the village, we had to destroy it…

Mint – Blain’s Morning Porridge

Time for a Friday rant. Headlines on investment banking in Europe in recent days have not made pleasant reading. Many familiar market names are braced for cuts as management look to scale back expenditure in the face of crashing revenues and soaring capital and regulatory costs.

March of the private equity zombies

The latest research from Preqin indicates that an estimated 1,180 zombie funds are being held in institutional investors’ portfolios. This is an increase from the 1,049 estimated by Preqin as of a year ago, and a further increase from the 999 in existence as of July 2013. The value of unrealised assets being held by zombie funds has also risen, from $80.9bn in 2013 to $126.6bn in 2015.

What did the Fed mean by that?

Mint – Blain’s Morning Porridge

“There are old pilots and there are bold pilots, but there are no old bold pilots..”

Nine new funds for AES White List

AES International has quadrupled the number of ETFs and index linked funds on its White List of approved funds.

US economy: not much has changed

Not much has changed in the outlook for the US economy or the US financial markets, according to John Osterweis, founder, chairman and chief investment officer and Matt Berler, president, chief executive officer and portfolio manager at Osterweis Capital Management in their July 2015 Equity Investment Outlook.

A sure sign of economic recovery

A representative of Barratt Homes has just slammed down the phone on me as I attempted to find out if a three-bed property is available on a particular site within our budget.

When (state-subsidised) house builders start treating potential customers with such disdain it is a sure sign that economic recovery is under way...

I have of course emailed the company's corporate affairs director about the incident.

Next generation TA creeps ever closer

Transfer agency, the next generation, creeps ever closer as month by month inadequate legacy systems are consigned to the dustbin of financial technology history. Independent third-party fund administrator Maitland has made its own claim to be prominent at the industry's cutting edge with its decision to replace its existing technology with Oracle FLEXCUBE Investor Servicing.

Moore strengthens European leadership team

Global fund services provider Moore Management, a First Names Group Company, says it has strengthened its leadership team with the appointment of Andrew Maiden as a director.

Wilderness equals peace

Mint – Blain’s Morning Porridge 

“These things they misname empire; and where they make a wilderness, they call it peace..”

Lord Sewel cocaine shock

I'm shocked at the news that Lord Sewel has been snorting cocaine off the body parts of a lady of the night. With a £5 note? Is that what austerity means? We really must all be in it together. I'd have thought a £50 note at least...

Vistra Jersey names new Managing Director

Jane Pearce has been named as managing director of Vistra Jersey's office, to lead the firm's corporate, fund administration and private client trust business on the island.

Why didn't you tell me?

Mint – Blain’s Morning Porridge

“Lo Pan appeared on the street? Wang Chi why didn’t you tell me?”

State Street issues Q2 results

State Street has just issued its second quarter results. Servicing fees of $1,325m in the second quarter of 2015 were up 4.1% from the first quarter of 2015, primarily due to net new business and stronger global equity markets, it says.

Nikkei and the Financial Times

The purchase price is apparently 35 times the FT's annual profits. That is a LOT of goodwill, especially as it doesn't include Number One Southwark Bridge. Remember too that back in the mid-1980s, a Japanese buyer paid (IIRC) almost £200m to buy Bracken House, the FT's former London HQ, which was promptly listed, almost before the ink was dry on the contract. Whatever else you might think, Pearson has dealt very shrewdly with the Japanese.

Hats off to Swisscom

My internet router stopped working around 10.00h this morning. I did the usual reset and power checks, then phoned the Swisscom helpline. Vincent Kaufmann, speaking perfect English, agreed it was dead and offered to send a replacement. I pointed out that I need the internet all day for work and asked if I could go and collect one from somewhere.

He gave me a code to take to the k Kiosk at Lauterbrunnen station and collect a new replacement. I rang the kiosk to check and they said yes. Here we are just over two hours later up and running again.

Hats off to Swisscom!

That's logic

Mint – Blain’s Morning Porridge

“If it were so, it might be; and if it were so, it would be, but as it ain’t, it ain't. That’s logic.”

Markets are cruel

Mint – Blain’s Morning Porridge

“I tried to get to my taxi, the man in the tracksuit attacks me..”

Deutsche Börse clearing wins Singapore clearance

The Monetary Authority of Singapore (MAS) has given Deutsche Börse Group full regulatory approval to operate Eurex Clearing Asia. Deutsche Börse says the new clearing house is an integral part of its new trading and clearing offering for investors during Asian trading hours.