Monday, 30 March 2015
Last updated 2 days ago
Jul 1 2014 | 8:27am ET
An activist hedge fund has taken aim at the world’s largest deposit bank.
Trian Fund Management has taken a 2.5% stake in the Bank of New York Mellon and plans to discuss ways of improving shareholder value with management. The hedge fund has been building its stake since the first quarter, winning permission to keep it a secret until now.
“Trian is a respected investment firm. We look forward to engaging with them as we do all our investors,” BNY Mellon said.
Trian’s investment follows a complaint in February from CLSA’s Mike Mayo that the bank should be “more aggressive” about restructuring, including a spin-off of its huge asset-management business.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…