| Lydian banks on its sale of subsidiary
Financial services provider Lydian, based in Palm Beach, has agreed to sell its Rockville, Md., subsidiary, Lydian Wealth Management, to publicly traded City National Corp. for an undisclosed price. The sale will not affect Lydian's wealth management clients in Florida, said James Meany, president and CEO of Lydian Bank & Trust Co. "We are still in the wealth-management business," Meany said. "We sold the non-Florida business and kept our delivery channel." The all-cash deal is expected to close in the second quarter. After the sale, Lydian Wealth Management will be renamed Convergent Wealth Advisors, an affiliate of Convergent Capital Management LLC of Chicago. City National acquired that firm in 2003. "Our long-term strategy remains building our brand as the premier private bank in Florida," Lydian Chairman Rory Brown said.
Ordyn secures Rs 60 crore funding
Ordyn Technologies Pvt. Ltd. (formerly known as Orion Tele Equipment Pvt. Ltd), a fast growing Indian telecom equipment company has tied up funding to the tune of Rs 60 Crores. The deal was structured and arranged by the Investment Banking team of India Infoline. Aureos Capital, a private equity firm that has invested Rs.40 crores in the form of private equity, was the major investor in the funding besides India Infoline. Ajit Menon President, Investment Banking India Infoline Limited said, Ordyn has a talented and very energetic team. We believe they offer tremendous potential in one of the most exciting sectors in the country." As a fund we are excited about investment in Ordyn as we believe that the Capex on Telecom is likely to sustain over the next few years and Ordyn is appropriately positioned to capitalize in this huge opportunity.
India’s Growing Pains
India's torrid economic expansion over the past five years delighted investors internationally, but the inevitable shakeouts of rapid growth are starting to rub some nerves raw at home. Thousands of Indian farmers battled police (Telegraph) in the country's West Bengal state in March, protesting government plans to confiscate their land and turn it into a special economic zone (SEZ). After fourteen deaths and chastisement from groups like Amnesty International, the state abandoned its plans for the SEZ. But after reviewing the SEZ policy, India's Prime Minister announced in late March that new zones will continue to go up across India (Jurnalo). Special economic zones typically offer tax breaks to encourage multinational corporations to set up shop in a developing country. The companies in turn help the host country by bringing jobs, tax revenues, and direct investment.
Chinese real estate developers visits the International Property ...
A Chinese delegation comprising of more than 40 leading Chinese real estate developers has visited the International Property Show 2007 in Dubai according to Strategic Marketing & Exhibitions, the organizers of the event. It was due to the collaboration between Strategic Marketing & Exhibitions and CIHAF, Chinas top trade fair for the real estate industry, in a bid to enhance relations and cooperation among property industry players in both countries. David Shan, General Manager, China Real Estate Business Weekly, said, As the regions fastest growing real estate market, the UAE presents a great potential for the Chinese developers. The visit to the International Property Show is a valuable chance for the Chinese developers to obtain further knowledge about the market in Dubai and to find the potential cooperation and investment opportunity.
Emerging-Market Gains Slow; Investors Seek Dividends (Update1)
April 9 (Bloomberg) -- Emerging-market investors, anticipating the smallest gains in stocks of developing nations since 2003, are snapping up shares that pay dividends. Templeton Asset Management Ltd.'s Mark Mobius and Emerging Markets Management LLC's Antoine Van Agtmael, who together oversee about $50 billion, say buying companies that offer the biggest payouts to shareholders -- including Brazil's CPFL Energia SA and South Korea's Kookmin Bank -- will help offset slowing returns. The shift from growth stocks marks a turning point after money invested with emerging-market equity funds swelled sixfold to $468 billion since 2002, according to Emerging Portfolio Fund Research Inc. Equities tripled in value, twice the rate in developed countries, during the same period, based on Morgan Stanley Capital International indexes.
PEOPLE: Nelson awarded 'Seal of Trust'
Bruce K. Nelson, a financial planner based in Audubon, has been awarded the "Seal of Trust" from the National Ethics Bureau. The bureau awards this designation to financial services professionals with an exemplary record of business ethics. Nelson has been helping investors for 26 years with investment and retirement planning. His most recently published guide is The Ultimate Safe Money Guide: How Everyone 50 & Over Can Protect, Save & Grow Their Wealth. He is a 1977 graduate of Haddonfield Memorial High School and a 1981 graduate of Liberty University. He also has also received the Chartered Financial Consultant designation by the American College in Bryn Mawr, Pa. send a letter to the editor. .
What Are These Kids Thinking?
Here we are in April, which I'm sure you know is National Financial Literacy Month. It's National Grilled Cheese Sandwich Month and National Frog Month, too. I kid you not. And it's also when we get Charles Schwab's (Nasdaq: SCHW) annual survey about kids and their relationship with money. Here are just a few highlights from the Charles Schwab Teens & Money 2007 survey. First, the good news: Fully 93% believe that it's important to know how to live within your means and to have good money habits to be successful in life. Some 84% have some money saved, and the average savings adds up to $1,044, up from $822 in 2006. And 63% of teens say they are knowledgeable about money management, including budgeting, saving, and investing. Now the not-so-good news: Many teens are not very realistic when it comes to what they expect to earn per year in adulthood.
Interview With Structured Products Expert Moorad Choudhry
Professor Moorad Choudhry is one of the industry experts when it comes to structured products, and has worked over 18 years in investment banking including experience at ABN Amro Bank NV and JPMorgan Chase Bank.He has written the following books: (1) The Bond and Money Markets: Strategy, Trading, Analysis, Butterworth-Heinemann 2001 (2) Handbook of European Fixed Income Securities (editor, with Frank Fabozzi), John Wiley 2004 (3) Analyzing and Interpreting the Yield Curve , John Wiley 2003 (4) Structured Credit Products, John Wiley 2004 (5) The Repo Handbook , Butterworth Heinemann 2002 (6) Capital Market Instruments: Analysis and Valuation , 2nd Edition, Palgrave MacMillan 2005 and (7) The Credit Default Swap Basis, Bloomberg Press 2006. For more of his excellent writings, please visit this linkMoorad talked to me in his capacity as Visiting Professor at the Department of Economics, London Metropolitan University.
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