November 14, 2018

facebook twitter linkedin tumblr google pinterest

DealBook Briefing: Whipsawing Markets Rattle Investors

DealBook Briefing: Whipsawing Markets Rattle Investors
Spread the love


Here’s how Mr. Wilkinson first became suspicious of a client called Lantana Trade LLP, which moved $480 million through the Estonian office in five months:

When Mr. Wilkinson downloaded the business’s records, what he saw made no sense. “Net Assets,” said a filing it made to Companies House, the British registrar that collects company data: “0.00.”

A simple clerical error, Mr. Wilkinson said a bank compliance officer reassured him weeks later, adding that Danske had asked Lantana to submit a new, correct version to Companies House. He forgot about it.

A year later, in September 2013, a senior bank official said Lantana was no longer a client, Mr. Wilkinson said. He added that another official told him that one of Lantana’s owners was a relative of Vladimir Putin, which was denied by a spokesman for the Russian president.

Kelly Coffey stepped down as C.E.O. of JPMorgan Chase’s U.S. private bank.

JPMorgan named Mike Gaito as a co-head of its health care investment banking team. His predecessor, Jeff Stute, left to join Perella Weinberg Partners.

Ed Catmull, a co-founder of Pixar Animation, will retire at the end of the year.

Terry Myerson, the former head of Microsoft’s Windows team, is joining Madrona Ventures and the Carlyle Group.

C.E.O. tenures are getting shorter, especially at consumer-goods and industrial companies.

Deals

• How SoftBank could invest from the Vision Fund without using Saudi money. (CNBC)

• The metal products company Arconic is said to be weighing an $11 billion takeover bid by Apollo Global Management. (Reuters)

• Endeavor Energy Resources is reportedly exploring a sale. (WSJ)

• MoviePass will be spun off from its parent company. (CNBC)

• The travel site GoEuro raised $150 million from Kinnevik, Temasek and Hillhouse Capital at a reported $1 billion valuation. (Bloomberg)

• A group led by the former N.B.A. player Ulysses Bridgeman is said to be vying for control of Sports Illustrated. (NY Post)



Source link

More from my site

About The Author

Related posts

Leave a Reply