SWFI First Read, February 14, 2017
U.S. Senate Confirms Mnuchin for Treasury Secretary
In a 53 to 47 vote that was mostly along party lines, the U.S. Senate has confirmed Steven Mnuchin for U.S. Treasury Secretary. Mnuchin was CEO of OneWest Bank, the entity that acquired IndyMac.
Nordea Gets Political Over Dakota Access Pipeline
Nordea has decided to divest from bonds issued by Sunoco Logistics, Philips 66 and Energy Transfer Partners over protest of the Dakota Access Pipeline project in the United States. Nordea had asked for a dialogue with the three companies regarding the pipeline project. Nordea’s peer DNB is facing political stress from advocacy groups like Greenpeace Norge in Norway. DNB claims they are refinancing existing loans that are not linked directly to the pipeline project.
AIG Names Robert Scheinerman as President of Group Retirement
American International Group, Inc. (AIG) announced that Robert Scheinerman, currently President, Individual Retirement, will become President, Group Retirement. Scheinerman has been with AIG since 2003. In his new role, Scheinerman will spearhead the continued expansion of VALIC, AIG’s Group Retirement business. In addition, Todd Solash has joined AIG as President of Individual Retirement. Solash joins AIG from AXA Equitable, where he held key senior management positions, including Senior Executive Director, Head of Individual Annuity Business. Earlier in his career, Solash was a partner at Oliver Wyman Financial Services. Both Solash and Scheinerman will report directly to Jana W. Greer, President and CEO, Individual and Group Retirement, AIG.
Sinochem Corp Eyes Stake in Noble Group
Beijing-based Sinochem Corporation is in early discussions with commodity trader Noble Group on buying a potential equity stake in the firm. Noble Group touts the China Investment Corporation (CIC) as a key shareholder.
POBA Could Allocate to AMP Capital Infrastructure Fund
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