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PIF and SoftBank Vision Fund Ink Solar Power Deal

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The SoftBank Vision Fund and Saudi Arabia’s Public Investment Fund (PIF) signed a Memorandum of Understanding (MoU) to fund the development of 3 GW of solar photo-voltaic (PV) and storage capacity in Saudi Arabia. PIF is a major cornerstone investor in the Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Santander and Broadridge Test Blockchain at Bank’s AGM

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Spanish banking giant Banco Santander, S.A. and Broadridge Financial Solutions, Inc. did something significant in the world of investor voting. In a bid to improve the process of proxy voting during annual general meetings, blockchain technology was implemented as a side process. Sovereign wealth funds, mutual funds, hedge funds, pension funds and other investors could benefit from greater vote transparency and ease of access on participation, as a growing number of companies have fragmented shareholder bases.

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SWFI First Read, May 19, 2018

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GIC is Financially Backing Water’s Edge Development in Los Angeles

Singapore’s GIC Private Limited and Newport Beach-based Marshall Property & Development are financial partners in the development called Water’s Edge in Playa Vista, a neighborhood in Los Angeles. The project is being led by Rockwood Capital.

Sumitomo Mitsui Asset Management Company and Daiwa SB Investments Inked MoU to Merge

On May 11, 2018, a Memorandum of Understanding (MoU) was signed for the merger of Sumitomo Mitsui Asset Management Company, Limited and Daiwa SB Investments Ltd. The proposed merger is subject to the approval of regulatory authorities. Sumitomo Mitsui Asset Management Company’s strengths is selling to mostly Japanese life and non-life insurance companies, while Daiwa SB Investments is stronger in the pension fund and corporate client market.

HSBC Securities Services Hires Bill Muia

HSBC Securities Services, part of the HSBC empire, hired Bill Muia as director for sales and business development, targeting U.S. asset managers and asset owners. Muia is based in New York and report to Scott Markowitz, Head of Sales and Business Development for the Americas at HSBC Securities Services. Previously, Muia worked at RBC Investor and Treasury Services and JP Morgan.

Temasek Capital Flows into AU Small Finance Bank for Raise

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Vontobel Asset Management Promotes Wittwer to CEO

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Vontobel Asset Management, Inc. named Thomas Wittwer as CEO. He replaces Philipp Hensler, who has served as CEO of Vontobel Asset Management since 2014. Philipp Hensler decided to leave the company to pursue an executive role elsewhere. Hensler was named co-CEO, along with Rajiv Jain in 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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