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SWFI First Read, August 30, 2017

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Robeco Stacks Martin Nijkamp as Strategic Hire

Martin Nijkamp was hired on as Head of Strategic Product and Business Development at Robeco. Nijkamp is being tasked to enhance the asset manager’s product range. Nijkamp was last Head of Strategic Business Development and Integrated Client Solutions at NN Investment Partners. Hester Borrie ended up taking the duties of Nijkamp at NN Investment Partners.

Christine Kelleher to Head Investments at National Gallery of Art

Christine Kelleher was hired as Chief of Investments of the National Gallery of Art in Washington, D.C., effective September 5, 2017. She will manage the US$ 875 million museum endowment. Previously, Kelleher was Managing Director at New York-based Avec Capital, a private equity placement firm. Before that role, she was a Senior Investment Officer at the endowment unit at Georgetown University.

SoftBank Participates in Series C Round in Appier

Former in 2012, Taipei-based Appier is an artificial intelligence (AI) company. Appier raised a Series C round of US$ 33 million from investors such as Japan-based SoftBank Group, LINE Corporation, NAVER Corporation, Singapore-based EDBI and Hong Kong-based AMTD Group. Appier’s first product is called the CrossX Programmatic Platform.

Central Bank of Russia Steps in to Save Bank Otkritie

The Central Bank of Russia moved quickly to take control of Bank Otkritie FC, a troubled Russian private bank lender. This central bank seizure occurred after more than 25% of Otkritie’s deposits left the bank over a period of months stemmed from a surprised ratings downgrade. Roughly US$ 7.4 billion worth of deposits in Otkritie exited in June 2017 and July 2017.

Equity shareholders and possibly subordinated debt shareholders of Otkritie could see their share ownership shrink to a maximum of 25% as the central bank takes control of the troubled lender.

PT Intiland Development and GIC Enter JV to Own and Develop Fifty Seven Promenade

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Saudi Arabia Sends Second Installment of Aid to Pakistan

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On December 14, 2018, Pakistan received its second installment of the US$ 3 billion in aid promised from Saudi Arabia on October 23, 2018. The US$ 1 billion given on December 14th boosted the foreign reserves of the State Bank of Pakistan, which went from US$ 7.2 billion to US$ 8.2 billion. The first installment was given on November 23, 2018. The last installment is expected to occur in January 2019.

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White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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