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Obama to Nominate Stanley Fischer for Fed Vice Chairman

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Dr. Stanley Fischer, Photo Credit: IMF

Dr. Stanley Fischer, Photo Credit: IMF

President Barack Obama announced his intention to nominate former Bank of Israel governor Stanley Fischer as Federal Reserve vice chairman. Before working for the Bank of Israel, Fischer was vice chairman of Citigroup and a former first deputy managing director at the International Monetary Fund (IMF). Fischer would represent the New York region.

President Obama is also planning on nominating Lael Brainard and Jerome Powell to the Board of Governors of the Federal Reserve System.

According to the press release, President Obama said, “These three distinguished individuals have the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy. Stanley Fischer brings decades of leadership and expertise from various roles, including serving at the International Monetary Fund and the Bank of Israel.”

Jerome Powell
Jerome Powell is currently serving on the Board of Governors, but his first term expires January 31. Powell would represent the Philadelphia region.

Lael Brainard
Lael Brainard served in the Obama administration as Under Secretary of the Treasury for International Affairs. She stepped down from that role in November. Brainard would represent the Richmond region.

PGGM Executed its Inaugural Cleared Securities Lending Trade

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Service providers are keen on getting more beneficial owners to participate in the cleared securities lending market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Altitude Infrastructure Gets Financing on Haute-Garonne Network Project

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Altitude Infrastructure SAS inked a 25-year concession agreement and closed a debt financing package for the deployment and maintenance of an ultra-high-speed broadband network in Haute-Garonne. Haute-Garonne is a department in the south of France.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Guggenheim Partners Agrees to Acquire Millstein & Co.

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On July 11, 2018, Guggenheim Partners inked a deal to acquire New York-based Millstein & Co., L.P., an advisory firm formed by Jim Millstein. Millstein will become co-Chairman of Guggenheim’s securities business. Millstein & Co. will become part of Guggenheim Securities, the investment banking division of the company. Ronen Bojmel will lead the combined Guggenheim restructuring team.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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