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Weekly News and Knowledge Bulletin
View All Past
Issue
| Volume 108 - Issue 1 |
22 October - 28 October, 2012 |
Editor note
Join us at FSOkx's 8th Annual Asset Management Industry Transformation and Outsourcing Strategies Forum
When FSOkx presented our first Asset Management Industry Transformation and Outsourcing Strategies Forum back in 2004, the global asset management
industry looked a whole lot different than it does today. Absolutely our industry is experiencing unprecedented legislative and regulatory changes. But even
in 2004, challenges abounded and the asset management industry responded by reconsidering their position on outsourcing and formulating new, innovative
growth strategies. The same is true today. In order to adapt to market changes, asset managers need to align investment strategies with customer expectations
and evolving business trends and they are restructuring models into the next generation of outsourcing with a focus on operations, risk, technology, and
compliance functions.
Top Deal of the Week
Generali Group Implements Systar's WideVision Alert and WideVision Service Health Check Solutions
The Generali Group has implemented Systar's WideVision Alert and WideVision Service Health Check to maximize the efficiency of their business operations
and Information Technology (IT) infrastructure.
Given the large quantity of alerts reported by their monitoring tools, it became essential for Generali to implement management by exception through a
focal point of supervision, reveals Daniel Jondet, Director of support and infrastructure at Generali. With respect to this, WideVision enables Generali to
gain an all-inclusive and homogeneous analysis of business impact from events generated by applications and infrastructure components. Similarly, WideVision
Service Health Check provides Generali's IT production management with consolidated dashboards on the health of over a hundred IT and business services, in
real time and as per several dimensions.
Top Mergers & Acquisitions of the Week
Stearns Bank N.A. Assumes Deposits and Assets of First East Side Savings Bank
U.S. bank closures that peaked following the financial crisis are running at a much slower pace this year than in 2011. By this time last year, 80 banks
had failed. This year only 46 U.S. banks have faced closure. First East Side Savings Bank is one of the three banks that faced closure recently. But, the
bank seized by the Federal Deposit Insurance Corporation last Friday has found a purchaser in St. Cloud's Stearns Bank N.A.
Stearns Bank has assumed the deposits and purchased all the assets of the failed Tamarac, Florida-based lender. It has bought First East Side Savings
Bank's USD 67.2 million in assets as well as assumed the lender's USD 65.9 million in deposits.
Industry Insights
Update on Global Investment Performance Standards (GIPS): What Hedge Funds Need to Consider Now
While hedge fund managers face many challenges in responding to the requirements of the Dodd-Frank Act, minimal attention has been paid to another set
of recently released industry guidelines: The Global Investment Performance Standards (GIPS) for Alternative Strategies and Structures.
Software Asset Management: Increasingly Critical for Compliance and Cost Containment in the Financial Sector
While a handful of innovative financial services firms are now applying advanced business intelligence (BI) and analytics to anticipate and respond to
customer demands and needs well in advance of the market, a large number of companies continue to struggle with managing and optimizing their "basic"
software asset management (SAM) programs.
New Financial Services Regulations Force Infrastructure Upgrades
Recent regulatory changes such as Dodd Frank, MiFID/R, EMIR, RRPs and Solvency II are forcing banks and insurance firms to rethink their IT
infrastructure, and firms that don't comply will face a hefty price - potentially tens of millions of dollars.
Business Intelligence Leads to Better Results in Financial Services
It all comes down to accuracy. Managing risk and company performance can be daunting in any industry, but it's especially so in financial services,
where investment and hedging positions re-price in real-time.
Update on Global Investment Performance Standards (GIPS): What Hedge Funds Need to Consider Now
While hedge fund managers face many challenges in responding to the requirements of the Dodd-Frank Act, minimal attention has been paid to another set
of recently released industry guidelines: The Global Investment Performance Standards (GIPS) for Alternative Strategies and Structures.
Top News Stories of the Week
Majority of South Asian Consumers Interested in Accessing Financial Services from Handsets: Visa Inc. Report
Majority of 2,500 mobile phone users surveyed by Visa Inc. in developing countries have showed interest in using their handsets to access financial
services.
Basel III Capital Rules Raise Concerns of Community Banks
Many community banks have filed letters to the U.S. regulators expressing their despair over the hardships they expect to face under the Basel III
proposal.
U.S. Banks Boost Key Capital Ratio's to Meet Forthcoming Rules
Banks with strong capital positions will be capable of absorbing losses from unexpected sources, claims Daniel Tarullo, Governor of the Federal
Reserve.
U.S. 'Flash Crash' Reforms Will Fail To Avert Another Market Meltdown
The new circuit breaker system designed works on the principle that, if the prices of stock change by more than 10 Percent in five minutes, the circuit
system pauses trading.
Citi Mobile Package Facilitates One Million Users to Do 95 Percent Transactions Away From Branch
Citi bank witnesses between 12 to 13 million online and mobile log-ins every month. Rajesh Yohannan, Citi's Global Head of mobile banking and Asia
pacific head of eBusiness states that digital channels contribute in excess of 25 percent of Citi's new credit card accounts.
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