SWFI First Read, December 19, 2016

Former Och-Ziff Executive Gets Fresh Start at AMG

Hugh Cutler was named the Global Head of Distribution for Affiliated Managers Group (AMG). He replaces Andrew Dyson who exited AMG to become Chief Executive Officer of Quantitative Management Associates. Cutler will officially join AMG in March 1, 2017 and be based in London. Cutler was a Managing Director at Och-Ziff Capital Management Group.

Swiss National Bank Augments Currency Reserve Positions

The Swiss National Bank (SNB) revealed that its Bank Council had approved moving 4.6 billion CHF (US$ 4.49 billion) to 2016 currency reserve provisions. The SNB in a statement said that, “the annual allocation will continue to be determined on the basis of double the average nominal economic growth rate over the previous five years. However, a minimum annual allocation of 8 percent of the provisions will now also apply.”

Qatar Banks Contemplate Possible Merger

More Gulf banks are looking to merge in order to save on costs and create synergies. Masraf Al Rayan, the International Bank of Qatar and Barwa Bank have initiated discussions regarding a potential merger. Masraf Al Rayan and Barwa Bank are Islamic finance institutions. Qatar Holding, a sovereign wealth enterprise (SWE) of the Qatar Investment Authority, is the largest shareholder in Masraf Al Rayan.

KWAP Acquires Menara AIA Cap Square

Kumpulan Wang Persaraan (KWAP) purchased the 41-storey Menara AIA Cap Square from Germany’s Union Investment Real Estate GmbH. Menara AIA Cap Square is located in Kuala Lumpur. JLL Malaysia, part of Jones Lang LaSalle (JLL), was the financial advisor for Union Investment Real Estate GmbH.

BVK and Universal-Investment Acquire Irish Retail Property

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