HSBC Hires Morgan Stanley's Bajaj to Head India Equity Business

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HSBC Holdings Plc, Europe's biggest bank by market value, hired Sanjay Bajaj to head its equity capital markets business in India, Asia's fastest growing market for selling new stocks, according to an internal memo.

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Scale up investment or lose bond allocation, FIIs told

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Sebi has told FIIs that their allocations on bond investment will be taken way if they fail to scale up their investments, reports Our Bureau. However, with interest rates in hardening overseas, there is very little opportunity to make money from such arbitrage deals.

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Union Bank net down 31% to Rs 166.81 cr

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Union Bank of India, a mid-sized government-owned bank, today reported 30.60 per cent fall in net profit in the first quarter of 2006-07 from the year-ago period as rising rates caused a sharp dent in the valuation of its investment portfolio. The bank?s capital adequacy ratio rose dipped to 11.25 per cent from 12 per cent a year ago.

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IFC looks for more space in core sector

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India continues to stay high on the list of global private equity investors, with $2-3bn or more waiting to be invested in the country. However, these investments have not entered the country as increasing number of Indian companies are meeting their fund requirenments by tapping domestic and overseas markets.

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Selling Annuity Payments for a Lump Sum of Cash

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Also, some life annuities come with a refund option that provides annuitants with a guaranteed income for life and continues the payments to the beneficiaries according to the refund provision. This is because your premiums buy units in your choice of separate accounts, which then invest in stocks, bonds, and money market funds.

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Duke Lax to Banking?

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Also: the father of Collin Finnerty, one of the two players who were arrested, is Kevin Finnerty (left), a former JP Morgan MD who ran mortgage-backed securities there and was on the board of the Bond Market Association, which, if our nepotism theory holds true, seems relevant. Informal polling indicates that he's probably screwed.

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Getting Cash for Annuity Payments Offers Quick Access to Funds

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Unlike fixed annuities, the value of the account is not guaranteed?annuitants assume the risk involved in investing their premiums in exchange for potentially higher returns. In fact, under government rules, individuals with a personal pension can take up to 25 % of the value of their funds as a tax-free lump sum when they retire.

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Yes there are more compliance and risk managers than ever-but more is not necessarily better.Yes you have much better quantification of risk through fancy Value at Risk models, but after the day this is not much use. The reason for this is not, as the financial press would have you believe, because these are complex, exotic financial instruments.

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