BlackRock Inc.’s Amanda Lynam says the rebound in junk bond issuance is set to accelerate, as companies work to get ahead of a wall of maturities starting in 2025. The high-yield market has sprung to life in September, with firms taking advantage of improved investor appetite to refinance debt or...
Citigroup Inc. debuted a token service that’s part of a broader push to offer digital assets to institutional clients. The product — known as Citi Token Services — will transform customers’ deposits into digital tokens that can be sent instantly anywhere in the world, according to a statement Monday. The...
Morgan Stanley was sued for at least $750 million by private equity firms that claim they were defrauded in a deal to invest in a credit agreement for a luxury high-speed rail line. Certares Management and Knighthead Capital Management filed suit Monday in New York state court, alleging that Morgan...
Proxy voting for investors is about to become a whole lot easier. Envestnet and iconik, a voting technology provider, announced Monday they’re teaming up to provide enhanced proxy voting solutions for those using Envestnet’s Sustainable Quantitative Portfolios. The firms say the move, which comes after an increase in investor demand, will...
A father-and-son team of advisors who managed about $1.2 billion in assets at Morgan Stanley has joined LPL Financial’s model for supported independence, LPL Strategic Wealth Services. Burke Francis and Christopher Francis will operate as The Francis Group at LPL in the Los Angeles area. Burke Francis has been building...
Commonwealth Financial Networks announced Monday that R&R Wealth Management, a firm that managed nearly $223 million in assets under advisement at Avantax Investment Services, has affiliated with Commonwealth’s network of independent advisors. Waukesha, Wisconsin-based R&R Wealth is headed by Robert Holton and Tom Driscoll, both vice presidents of wealth management...
Two former Wells Fargo Advisors have jumped ship to join joined Raymond James Financial Services, the the firm’s independent advisor channel. Based in Massapequa Park, New York, Scott T. Mulford and Melissa Minikes previously managed over $170 million in client assets while at Wells Fargo. The pair are joined by...
Over 200 people are expected to lose their jobs at Amsterdam-based Sustainalytics, the company announced. The decision comes after Chicago-based Morningstar said in June it would move to align Sustainalytics more closely with its Indexes businesses. According to its website, the ESG service provider arm Sustainalytics employs over 1,800 people,...
TUESDAY – DISCOUNT IPO PRICE SET Instacart, the leading US online grocery delivery company, is gearing up for an initial public offering (IPO) that could value the business at up to $9.3 billion. Pricing (22 million shares at between $26 and $28 is expected be set tomorrow, Goldman Sachs...
The private credit market is seeing strong interest from both fund managers and investors and the once-niche market is now worth around $1.5 trillion. Private credit fund managers are increasingly providing investors with customized exposure to the market and some key trends are emerging, according to a new report from...