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SWFI – Movers and Shakers – January 11, 2015

Obama to Nominate Community Banker to Fed’s Board of Governors

The White House is looking to nominate Allan Landon, a former community banker, to the Federal Reserve’s Board of Governors. Landon was chairman and chief executive of Bank of Hawaii Corporation, serving as CEO from 2004 to 2010. Landon also has experience at First American Corporation and Ernst & Young. In a statement, U.S. President Obama said, “Allan Landon has the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy.”

President Obama added, “He brings decades of leadership and expertise from various roles, particularly as a community banker.”

Rojas Steps Down as Paraguay FinMin

The Finance Minister of Paraguay German Rojas resigned from his post on December 24, 2014. Rojas is lauded for Paraguay’s sovereign debt issue of US$ 1 billion, 30-year bonds in August 2014. Rojas’ successor is rumored to be Santiago Pena who works at Banco Central del Paraguay and is a U.S.-trained economist. Pena spent a few years at the International Monetary Fund (IMF).

Sylvia Pozezanac to Lead Prudential Financial’s Strategic Solutions Group

Prudential Financial Inc. has named Sylvia Pozezanac as senior managing director and head of the strategic solutions group (SSG). She joined the strategic solutions group as global head of consultant relations in October 2013. She spent 26 years at consulting firm Towers Watson and its predecessor. She replaced Kevin Myers who made the decision to retire in July. Pozezanac will report to Stephen Pelletier, the chief operating officer of Prudential Financial’s U.S. business.

BlueBay Snatches Strategic Investments Group Salesperson

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

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bcIMC Buys into Bottling Business with PAI in €1.623 Billion Takeover of Refresco

Dutch soft-drink bottler Refresco Group N.V. has agreed to a buyout offer for all 81.2 million of its shares from French private equity firm PAI Partners SAS (PAI) and Canadian pension manager British Columbia Investment Management Corporation (bcIMC) in exchange for €20 in cash per ordinary share for a total consideration of €1.623 billion. Refresco’s major shareholders, which includes 3i Group, and shareholding members of its boards, who represent 26.5% of outstanding shares, have said they stand behind the deal.

Refresco’s board rejected an initial offer from PAI in April 2017 of €1.4 billion, which they felt did not adequately capture the value added by their plans to bolster its presence in North America through the acquisition of Canadian bottler Cott TB, a deal that went through in July for US$ 1.25 billion.

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Digital Insurance Distributor BGL Opts for CPPIB Money Over IPO

Canada Pension Plan Investment Board (CPPIB) is investing £675 million (US$ 895.715 million) for a 30% stake in Peterborough-based BGL Group, a digital distributor of insurance and household financial services to 8.5 million customers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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