Reuters reports that BlackRock and State Street Global Advisors, the asset management arm of State Street Corp, are among the firms that have bid for the business, three of the sources said.
In the meantime, Bloomberg reports that former Deutsche Bank Managing Director Martyn Dodgson and three others charged with insider trading were given unconditional bail while they await trial.
Dodgson, Andrew Hind, Benjamin Anderson and Iraj Parvizi had their cases transferred to Southwark Crown Court in London for further proceedings on Dec. 21 following a magistrates court hearing Friday. The men were charged with conspiracy to commit insider dealing earlier this month following a two-and-a-half-year investigation by the U.K. Financial Services Authority.
And the news organisation also reports that Goldman Sachs failed to win dismissal of a lawsuit by Australian hedge fund Basis Capital Funds Management Ltd. over the sale of securities known as Timberwolf and Point Pleasant.
New York Supreme Court Judge Shirley Werner Kornreich in an order today denied Goldman’s request to throw out Basis Capital’s fraud, negligent misrepresentation, unjust enrichment and recession claims. The judge agreed to dismiss the breach of contract claim and a claim for breach of implied covenant of good faith and fair dealing.
Finally, Reuters reports that a Boeing Co worker has filed a lawsuit seeking class-action status against State Street Corp over currency trades in the airplane maker's $34bn retirement plan.
State Street is accused of overcharging on forex trades made by a global index fund in the plan which is run by State Street's own asset management arm.
Credit Suisse to sell European ETF business - sources
Ex-Deutsche Bank Broker in Insider-Trading Case Granted Bail
Goldman Fails to Dismiss Basis Capital’s Timberwolf Suit
Boeing worker accuses State Street of overcharging on FX trades
image: © Valerie Everett
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