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CLS Group Makes Strategic Hires to Boost Sales

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New York-based CLS Group, a company that provides a foreign exchange settlement platform along with data solutions, hired Angus Scott, Euroclear’s former head of product strategy and innovation. Scott is joining CLS as head of product. Scott will report to Alan Marquard, CLS’ chief strategy and development officer. Scott also held roles at HSBC Securities Services and the London Stock Exchange (LSE).

CLS Group also hired Lisa Danino-Lewis to be head of sales for Europe, Middle East and Africa (EMEA). Previously, she was Head of e-Commerce Foreign Exchange Sales (EMEA) at HSBC. Danino-Lewis also held roles at BNP Paribas and London-based Broadway Technology.

In recent news regarding the company, CLS included Absa Bank as its newest settlement member, giving the company a stronger presence in South Africa. Formed in 2002 as a limited purpose bank, CLS is owned by banks and institutions such as Bank of America, BMO, BNY Mellon, Citi, Macquarie, DBS Bank, Barclays, Deutsche Bank and many others.

GIC Buys Large Stake in Nordic Aviation Capital

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Singapore’s GIC Private Limited, a yield-hungry sovereign investor, invested in Denmark-based Nordic Aviation Capital A/S, becoming a significant minority shareholder. Other shareholders in Nordic Aviation Capital include EQT VI Limited fund, KIRKBI Invest (wealth origins tied to Legos), and Martin Møller, the founder of Nordic Aviation Capital. EQT VI will remain the largest shareholder of Nordic Aviation Capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Trump Wants Pharma Companies to Disclose Drug Prices in Advertisements

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U.S. President Trump is progressing on plans to mandate pharmaceutical companies to reveal their prices in drug advertisements. “The drug industry remains resistant to providing real transparency around their prices, including the sky-high list prices that many patients pay,” Health and Human Services Secretary Alex Azar said in a statement. “So while the pharmaceutical industry’s action today is a small step in the right direction, we will go further.”

The U.S. Health and Human Services Department would require pharmaceutical companies to include drugs’ sticker prices in their video advertisements. This would be similar to how drug companies disclose the laundry list of side effects.

Increasingly, sovereign funds like Temasek Holdings have backed mid-stage pharmaceutical companies and other therapies, while market investors like Norway’s GPFG have large holdings in listed pharmaceutical companies.

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Kazatomprom Treads Closer to IPO

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Kazatomprom is the world’s biggest uranium producer, accounting for around 20% of production market share. The company is moving forward on floating up to a 25% company stake for its planned initial public offering in London and Astana, Kazakhstan. Kazatomprom’s IPO plans are subject to market conditions. The global market price of uranium generated significant price gains year-to-date through almost three quarters. So far, during 2018, the uranium spot price has moved from US$ 20 per pound to US$ 27 per pound.

Kazatomprom’s sole shareholder is Samruk-Kazyna. Samruk-Kazyna would retain at least a 75% stake in the company.

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Credit Suisse and JPMorgan are joint global coordinators and joint bookrunners for the share offering. China International Capital Corporation, Halyk Finance, and Mizuho International plc were joint bookrunners.

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