Weekly Outlook: US banks and Barratt Developments results
Key events for wealth managers for the week beginning 8 July
Citigroup
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Citigroup fined £61.6m over trader inputting error
A trader erroneously created an equity basket worth $444bn, of which $1.4bn made it to market before the order was cancelled
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Principal appoints Kamal Bhatia as president of asset management
Pat Halter retires after 40 years at Principal
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Aviva Investors brings on Citigroup’s Gkionakis as senior economist
Will work under head of investment strategy and chief economist Michael Grady
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Weekly outlook: Supermarket giants to set out their stalls
Key events for UK wealth managers for the week starting 9 January
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Keith Skeoch hands over Standard Life Aberdeen leadership to Citigroup veteran
Stephen Bird previously spent 21 years at global banking giant
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Banks are market leaders in valuation terms – Fidelity
The banking sector is the market leader in valuation terms, says Fidelity’s Alex Wright, and investors can once again feel comfortable with it.
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SLI continues multi-asset push with investment director hire
Standard Life Investments has added to its multi-asset roster with the recruitment of an investment director.
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Charles stanley cuts dividend as part of wealth refocus
Charles Stanley has cut its total dividend for the year to end March 2015 to 5p per share and is planning a £15.8m share placing in an effort to rebuild its capital levels and refocus the business.