Friday SWFI News Roundup, December 19, 2014
Man Group Buying up U.S. Alternative Management Businesses
Man Group has acquired Stamford-based Silvermine Capital Management. Man Group is looking to augment their presence in the United States, buying up alternative shops. Silvermine Capital Management has US$ 3.8 billion in assets under management. Silvermine is owned by its founders and senior executives. The firm focuses on U.S. levered credit portfolios. The deal is expected to close in the first quarter of 2015, which the company will be integrated under Man GLG, a subsidiary of Man Group. In 2014, the Man Group acquired Merrill Lynch Alternative Investments hedge fund-of-funds business, Numeric Holdings and Pine Grove Asset Management. Berkshire Capital Securities was the financial adviser to Silvermine.
Aviva Investors Has a New Fixed Income CIO
Aviva Investors, the investment arm of Aviva plc, has appointed Mark Connolly as chief investment officer for fixed income. Connolly replaces acting chief investment officer for fixed income Jean-Francois Boulier. Jean-Francois Boulier will continue his role as CEO, France for Aviva Investors. Connolly will report to Aviva Investors CEO Euan Munro. Connolly came from Scottish Widows Investment Partnership (SWIP) where he as a director and head of fixed income.
Goldman Sachs Promotes Waldron to Co-Head of Investment Banking
Goldman Sachs has appointed John E. Waldron to be co-head of the Investment Banking Division. Waldron joins Richard Gnodde and David Solomon to augment and grow Goldman Sachs’ investment banking business. Waldron was global head of Investment Banking Services and Client Coverage. From 2005 to 2007, he was first global co-head of the Financial Sponsors Group. Waldron joined Goldman Sachs in 2000. He assisted media head honcho Rupert Murdoch split his media business into 21st Century Fox and News Corporation. In other news, John S. Weinberg, vice chairman of Goldman Sachs, will focus on client development and other initiatives at Goldman Sachs.
Khazanah Denies Jentayu Danaraksa’s Bid
Khazanah Nasional has denied a proposal from Malaysian venture capitalists, Jentayu Danaraksa Sdn Bhd, to acquire select assets of troubled airliner Malaysia Airlines. Jentayu Danaraksa Sdn Bhd wants to buy the airlines’ parent company Penerbangan Malaysia Bhd (PMB).
State Street Appoints Rogers as President and Chief Operating Officer
State Street Corporation has appointed Michael (Mike) F. Rogers to president and chief operating officer. He will continue to report to Jay Hooley, chairman and CEO of State Street. Rogers joined State Street in 2007 following its acquisition of Investors Financial, where he served as president for six years. In addition, Wai Kwong Seck and Gunjan Kedia were appointed to State Street’s management committee.
GPIF May Change Governance Structure
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