Reuters reports that, according to its sources, digital media company Glam Media has selected Goldman Sachs and Bank of America Corp to lead its initial public offering.
Glam Media, which has been valued at close to $1bn, is expected to launch its public offering toward the latter half of the year.
In the meantime, Bloomberg reports that Societe Generale has reported a smaller decline in profit than analysts estimated as a rebound in fixed-income revenue cushioned losses from the sale of corporate loans.
Societe Generale jumped in Paris trading after saying net income declined just 20% to $963m. Revenues from trading fixed income, currencies and commodities rose 39% from a year earlier to a record $1.3bn, the bank said.
And Reuters also reports that J.P. Morgan has named John Hall as the head of technology, media and telecommunications (TMT) banking for Asia Pacific with immediate effect, according to an internal memo seen by Reuters on Thursday.
Finally, Bloomberg reports that Trafigura Beheer BV, the world’s third-biggest oil trader, has said it hired Christoph Gugelmann, Stefano Sabbadini and Philip Jan Kok for its Galena Asset Management unit to expand its commodity trade finance business.
Gugelmann, Sabbadini and Kok, previously with Bank of America, will join as credit portfolio managers at Galena in Geneva which is seeking to double funds under management to $4bn by the end of 2013, Trafigura said in a statement.
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