It's all happening.
Blackstone Group, the asset manager run by Stephen Schwarzman, will shutter a mutual fund that allocates money to hedge fund managers as the vehicle’s main backer, Fidelity Investments, is pulling out.
Big money managers led by Fidelity Investments are close to launching a private trading venue designed to let them buy and sell large blocks of stock without the involvement of Wall Street firms and high-speed traders, according to people familiar with the matter.
Two former employees of Barclays have signed deals with the US Department of Justice as part of its probe into alleged Libor manipulation, underlining the thrust of the worldwide investigation that is expected to yield more criminal charges against individuals over the next month.
Renowned investor, Anthony Bolton is set to retire from Fidelity next year after three decades working in the fund management industry, ending his career with what he described as "disappointing" returns for investors after his bullish views on China failed to pan out.
Commerzbank is exploring the sale of its custodian business as CEO Martin Blessing reviews company strategy, according to people familiar with the matter.
Bloomberg's Erik Schatzker reports that Fidelity Investments has named Abigail P. Johnson President.
The British Bankers' Association was given weekly warnings in 2008 that the process of setting the Libor interest rates was being distorted.
Goldman Sachs, Bain Capital and Carlyle Group have urged a federal judge to dismiss an investor lawsuit accusing the largest investment banks and private-equity firms of conspiring to rig bids on leveraged buyouts.