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21 hours ago | 
citywire.com | Eva Thomas
In the institutional pipeline, outsourced chief investment officers (OCIOs) are most in demand by foundations and endowments, which use OCIOs to - among other reasons - get better access to alternatives.
That’s according to a new report from Boston-based consultant Cerulli Associates, which found that 91% of OCIO providers surveyed said that the endowment and foundation channels are ‘most critical’ for growing the OCIO providers’ AUM.
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1 day ago | 
citywire.com | Eva Thomas
Citi Wealth has sold its global alternative investment fund platform to iCapital.
The alternative investment-focused turnkey asset management programme will acquire Citi Global Alternatives and become the advisor to its 180 feeder funds, covering private credit, private equity, growth equity, infrastructure and venture capital.
Financial details of the agreement were not disclosed. iCapital declined to comment regarding how many client assets were in the 180 funds. Already have an account?
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2 days ago | 
citywire.com | Serge Debrebant
Oliver Meinschien, Teamleiter für das Wealth Management in Hamburg und Niederlassungsleiter in Berlin, hat Berenberg laut eines Berichts des Branchen-Portals Finanz-Szene verlassen.
Die Nachfolge steht bereits fest. Carolin Lukas leitet seit Anfang Mai die Berliner Niederlassung, während André Nogat seit Anfang Mai als Leiter des Hamburger Wealth Managements fungiert. Die Stelle wurde neu geschaffen und deckt Meinschiens Aufgabenbereich teilweise ab.
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2 days ago | 
citywire.com | Eva Thomas
A proposed class action lawsuit has been filed against the Vanguard Group alleging that the $10.1tn firm ‘surreptitiously’ shared sensitive client data with third parties.
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2 days ago | 
citywire.com | Richard Lander
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2 days ago | 
citywire.com | Eva Thomas
Gatekeepers at SEI Investments have dropped Allspring Global Investments from two funds with more than $1.3bn in combined assets.
Allspring has been dropped from $566m SEI US Managed Volatility fund (SVYAX) and the $777.8m SEI Global Managed Volatility fund (SVTAX), according to a Friday filing with the Securities and Exchange Commission (SEC).
On SVYAX, Acadian Asset Management has been added as a subadvisor, the filing shows. On SVTAX, Acadian has served as a subadvisor since 2006.
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2 days ago | 
citywire.com | Sam Bojarski |Alec Rich |Andrew Foerch
T. Rowe Price and a consortium of fellow investors made a minority common equity investment to the tune of $1.6bn in global insurance brokerage Hub International Limited (HUB) on Monday.
The deal values HUB at $29bn, which the company said is the largest enterprise value to date for a private insurance broker. Along with T. Rowe, investment company Alpha Wave Global and Singaporean state-owned investment firm Temasek participated in the capital raise, as did a slew of new and existing investors.
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2 days ago | 
citywire.com | Andrew Foerch
NASHVILLE, Tenn. — At Citywire RIA’s Nashville CIO Summit on Friday, our editorial team polled several dozen asset managers and RIA investment decision-makers on some of the biggest and most pressing questions about markets and the economy.
Their responses varied widely; the unprecedented uncertainty resulting from the Trump administration’s erratic rollout of its tariff policies meant majority consensus answers were rather hard to come by.
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3 days ago | 
citywire.com | Chris Sloley
Nicola Lanaro – who featured in – has been promoted to lead wealth management services at Grupo Cassa Centrale.
Lanaro joined the Trento-based group’s banking arm, Casse Centrale Banca, in 2010, where he was recently head of portfolio analysis and controls before moving to head of financial insurance, consulting and portfolio monitoring in September 2023.
It is understood the new role marks a wider remit than his previous position.
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3 days ago | 
citywire.com | Richard Lander
Many AI experts believe we have already reached Artificial General Intelligence (AGI) - the point where the machines are smarter than us - or that its arrival is just around the corner. Walter Pasquarelli, who advises businesses and governments on AI, thinks that’s wrong. ‘I think for the full picture of intelligence, comparable to what us humans have, that’s going to be at least another five years.’ he said.