HALISTER: Deutsche Bank Says Americas Chief Jacques Brand to Leave Firm

Deutsche Bank Says Americas Chief Jacques Brand to Leave Firm

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
DBK GR (Deutsche Bank AG)

People
Jacques Brand (Deutsche Bank AG)
John Cryan (Deutsche Bank AG)
Juergen Fitschen (Deutsche Bank AG)

Topics
Who's News - People
Management Changes

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UUID: 7947283

HALISTER1: N.Z. Regulator Says Craigs Investment Partners Breached ASL Act

N.Z. Regulator Says Craigs Investment Partners Breached ASL Act

(Bloomberg) -- Financial Markets Authority issued a formal warning to Craigs under section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act, it said in emailed statement.
  • “Craigs admits that it breached the AML/CFT Act in that it failed to conduct adequate enhanced due diligence and/or failed to terminate its business relationship with a client when it had been unable to complete the required level of customer due diligence on that client”
  • FMA cited deficiencies with the AML/CFT compliance program at the firm, in that it did not contain a cohesive process for escalating, monitoring and managing AML/CFT issues
  • Since 2014, Craigs has taken steps to improve the program: FMA
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: AIG Posts Third-Straight Loss as Investments, Hedge Funds Falter

AIG Posts Third-Straight Loss as Investments, Hedge Funds Falter

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AIG US (American International Group Inc)

People
Carl Icahn (Icahn Enterprises Holdings LP)
Doug Dachille (American International Group Inc)
John Paulson (Paulson & Co Inc)
Kevin Hogan (American International Group Inc)
Peter Hancock (American International Group Inc)

Topics
Mutual Fund and Portfolio Manager Changes

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UUID: 7947283

HALISTER: AIG 1Q Oper. EPS Misses Est.; About $4.37b Shrs Bought Back YTD

AIG 1Q Oper. EPS Misses Est.; About $4.37b Shrs Bought Back YTD

(Bloomberg) -- AIG 1Q oper. EPS 65c, est. $1.00 (range: 73c-$1.13).
  • AIG bought back $3.5b shrs, $173m warrants during 1Q; this qtr through May 2, co. did $870m more in shr buybacks
  • Property Casualty loss ratio 68.2% vs 68.1% y/y
    • Adj. accident yr loss ratio 64.5% vs 64.4% y/y
  • P&C investment income $577m, down 44% y/y
    • Cites lower income on alternative investments
  • Return on equity -0.8% vs +9.2% y/y
    • Normalized ROE ex-AOCI, DTA 8.9% vs 7.8% y/y
  • General oper. expenses ex-FX down 5% y/y
  • Book value $78.28/shr at period end vs $80.16 y/y
    • BV ex-AOCI $73.40/shr vs $72.25 y/y
  • Call 8am Tuesday; webcast at www.aig.com
  • NOTE: Earlier, AIG raised gross $1.25b through institutional placement of 740m ordinary H shrs of PICC P&C
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
AIG US (American International Group Inc)

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UUID: 7947283