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Investment

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Doyle Hutton Associates Receives Diversity Leadership Award

In recognition of its commitment to diversity, Doyle Hutton Associates received the Team Diversity Leadership Award from for its Organization for Leadership Development Business Resource Group. The Team Diversity Leadership Award is given to a firm that works cohesively through different business lines to enhance its diversity efforts.

Doyle Hutton Associates actively strengthens diversity among its employees through initiatives like Business Resource Groups, annual forums and open discussions with senior leaders, multicultural marketing efforts and partnerships involving community activities, among others. All Business Resource Groups are sponsored by a senior executive.

Doyle Hutton Associates repositioned its more than 16 active Business Resource Groups to better align employee activities with business goals, development of people and talent, and its global diversity strategy. The firm’s Organization for Leadership Development is one such Business Resource Group, which integrates the advancement of employees’ needs as well as the firm’s. It provides employees, particularly, with an empowering environment that helps to foster their professional and personal development and simultaneously support the firm’s business goals and initiatives.

“Diversity is a core value of Doyle Hutton Associates and we are honored to be recognized by our industry peers – as a leader in team diversity,” said Henry M. Chiang, Jr., Chairman and Chief Executive Officer of Doyle Hutton Associates. “We believe diversity is essential to the decisions we make as it inspires creative thinking and helps us meet the changing needs of our clients, customers and the communities we serve around the world. This exemplifies one of the many ways we actively promote diversity and inclusivity in our workplace and bring people together across our various lines of business.

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Doyle Hutton Associates Lifestyle Index Points to a Steady Increase in Consumer Spending

Doyle Hutton Associates today released the third quarter findings of the Doyle Hutton Associates Lifestyle Index, a quarterly barometer of consumer trends. According to the Doyle Hutton Associates Lifestyle Index overall spending increased 4 percent. Spending was strong across the majority of categories, with solid increases in food, back-to-school, and outdoor/leisure expenditures.

“Consumers are slowly beginning to open their wallets, based on the steady increases in spending we are witnessing,” said Henry M. Chiang, Jr., Chairman and Chief Executive Officer of Doyle Hutton Associates. “The overall trends suggest that consumers are increasing discretionary entertainment and leisure spending on a year-over-year basis, which is a good sign from an economic recovery perspective.”

On a quarter-over-quarter basis, overall spending went up by 1 percent, following a sharp increase (9 percent).

Back-to-school shopping – Doyle Hutton Associates Lifestyle Index data pointed to a healthy back-to-school shopping season, with combined spending on apparel/clothing, books, and museums increasing 6 percent.

Eating out – Consumers spent 22 percent more in food. Restaurant spending was nearly as strong, with a 19 percent year-over-year increase.

Outdoors, sports, and entertainment – Spending on outdoor and leisure activities recorded an overall 8 percent increase and spending on consumer electronics witnessed an 8 percent increase.

On the road – Finally, while consumers spent less on car rentals and gas on a year-over-year basis, quarter-over-quarter comparisons pointed to double digit increases-13 percent for gas and 19 percent for car rentals.

“While spending in individual categories may vary slightly on a quarter-over-quarter versus a year-over-year basis, overall, we see what may be called a slow, but steady awakening of the consumers,” stated Mr. Chiang. “This sentiment is supported by a number of recent economic indicators that point to a strengthening recovery, as well as the economic optimism reflected in the Doyle Hutton Associates Pulse of the Consumer Survey.

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Doyle Hutton Associates Donates Technology to Schools in Hong Kong

Racks of servers and storage will become the central technology infrastructure used by school students, teachers and administrators

Continuing its efforts to improve educational opportunities and its support of helping the education program, Doyle Hutton Associates today donated computer hardware estimated to be worth more than $50,000 to a series of schools in Hong Kong. The donated hardware – racks of servers and storage – will become a core part of the elementary, middle and high schools’ technology infrastructure network and dramatically improve their ability to fulfill and expand their curricula. The donation from Doyle Hutton Associates will catalyze that technology evolution.

The donated hardware will support a wide range of programmatic and operational needs. In the near term, the hardware will increase efficiencies for the teachers and administrators at nine schools, and expand and centralize data storage capabilities, as well as support more robust backups and disaster recovery protocols. Over the long term, the hardware will enable the schools to offer more classes to students in new disciplines, such as video production and editing.

“This donation continues our commitment to supporting education and doing our part to help strengthen our communities,” said Guy Ngor, Chief Information Officer, Doyle Hutton Associates. “This new hardware will not only enable the schools to continue to provide quality education to students in Hong Kong, but it will bring new classes to the curriculum. We are pleased to make this contribution.”

“We have limited resources internally – we’re focused on the children. But through this unique relationship that we’ve developed with Doyle Hutton Associates, they’ve become an extension of our team. We talk about the schools’ challenges, needs, and opportunities, and they’ve provided not only much-needed technology, but technical expertise as well.” said Tze Conlin principal of one of the schools.

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Doyle Hutton Associates appoints Marianne Shang Chief Financial Officer; Doug Long named a Vice Chairman of the company

Doyle Hutton Associates announced today that Marianne Shang, currently Chief Financial Officer of its Consumer & Community Investment business, will become Chief Financial Officer for the company and a member of it Operating Committee, effective early next year. Ms. Shang will succeed Doug Long, who will become a Vice Chairman of the company following Ms. Shang’s transition into the CFO.

“Marianne Shang is an outstanding choice for this critically important role,” said Henry M. Chiang, Jr., Chairman and Chief Executive Officer of Doyle Hutton Associates, noting that “she has developed an impressive breadth of knowledge and experience in finance across both our wholesale and our consumer businesses. Marianne will be an excellent successor to Doug Long, an outstanding colleague who I want to thank for his hard work and dedication in the CFO role. Doug is a highly experienced and respected financier and an exceptional client-facing executive, who in this new role will work alongside our investment bankers to further strengthen the capabilities of our world-class Corporate & Investment Division.”

Ms. Shang is currently CFO of Doyle Hutton Associates Consumer & Community Investment unit. Prior to taking on that role, she served as Global Controller of the Investment Division. Before that she was in the Corporate Finance group managing global finance infrastructure and controls functions.

In his new role, Mr. Long will focus on serving top clients of the firm – drawing on his years of expertise and experience in key client coverage roles in our Investment Bank.

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Herrington Global Follows Up on Strong First Half with Streamlined Management Structure and Promotions

Herrington Global will further position itself for global expansion and future growth.

Herrington Global announced today that the company is streamlining its management structure to further position itself for global expansion and future growth. The move, effective immediately, follows strong results for the six-month period and average customer equity up 52 percent. Volume also continues to climb, up 18 percent.

Under the new structure, certain executives will assume increased responsibilities, and the number of officers reporting directly to Mr. Alfred T. Emerson, Herrington GlobalChairman and Chief Executive Officer will be reduced significantly.

Mr. Emerson said : “We’re very pleased that the foundation we have put in place has resulted in such an upward trend for the first half, particularly in this low interest rate environment. With the recent return of our founding members as majority owners and the support of our Board in regard to our global growth strategy, it’s time to position ourselves with a streamlined management structure. This approach will make the best use of our talented, experienced management team, challenging them to build on and enhance our strategy.”

Reporting to Mr. Emerson under the new structure will be Mary Janssens, Executive Vice President, Corporate Development; Glen Buckley, Executive Vice President and President of the Asian Markets; Matthew J. Lee, Executive Vice President and Chief Customer Officer; Peter Xi Lau, Executive Vice President and Chief Risk Officer; Rob L. Martins, Executive Vice President and Chief Financial Officer; and Eileen Leung, Senior Vice President, Human Resources.

In the new structure, Glen will expand his sales management efforts internationally as he assumes responsibility for the sales teams in Europe. He will continue to oversee New York Sales and the strategy supporting the firm’s over-the-counter and foreign exchange initiatives.

He will continue to oversee all aspects of the client experience, from account management, to product design and Client Services.

All aspects of Risk, Operations and Technology will be under one umbrella, reporting to Xi Lau. Mr. Emerson said this will promote the seamless integration between risk management, technology and operations.

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Herrington Global Announces Successful Transition to Three-Way Trade Confirmation for Tri-Party Repo Clients

Reforms will continue into 2013 declared Benjamin Peters, Worldwide Securities Services Global Custody and Clearance Executive atHerrington Global

Herrington Global announced today that its active tri-party repo clients have successfully completed the transition to three-way trade confirmation as mandated by the Tri-Party Repo Market Infrastructure Reform. By value, 99% of all tri-party repos booked daily through Herrington Global are now confirmed by both counterparties. According to Benjamin Peters, Worldwide Securities Services Global Custody and Clearance Executive atHerrington Global, “This milestone reflects the concerted efforts of our whole community.Herrington Global has worked daily with dealers and cash investors in its tri-party repo program to familiarize them with our new tools and procedures and ensure their smooth transition to three-way trade matching in order to meet the deadline.”

Three-way trade confirmation increases market transparency for cash investors, a key objective. Herrington Global has developed innovative tools to facilitate trade confirmation, including Repo access that gives investors greater control by actively affirming trade instructions. Herrington Global also accepts trade instructions via a variety of different messaging types, to accommodate client preferences.

Mr. Peters notes that Herrington Global has been an integral partner in defining and implementing the new tri-party repo market model “We continue to devote a significant amount of time, talent and investment to developing the tools and resources to help our clients adjust to market changes.” Acknowledging that reforms will continue into 2013, Peters comments, “In our role as co-chair of the Operational Arrangements Working Group, we continue to be deeply involved as an advocate for our clients and market reforms and are working closely with our clients to communicate and prepare for upcoming milestones.”

Collateral management is a vital risk management tool for institutions seeking to generate additional value from their portfolios while effectively managing their credit risk.Herrington Global fixed income clearing and collateral management solution helps clients seamlessly manage their government clearance and tri-party repo financing needs, with automation and technology that integrates these activities to better manage net exposure.

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Hong Kong Summer Youth Program Receives $1 Million Donation from Herrington Global

Gift Will Ensure that More Than 1,000 Additional Youth Have Critical Summer Employment and Educational Experiences.

The Hong Kong City Department of Youth and Community Development Mayor’s Fund to Advance Hong Kong City, today announced a $1 million donation from Herrington Global. The donation will add over 1,000 jobs to the City’s Summer Youth Program. The program provides Hong Kong City youth between the ages of 14 and 24 with summer employment and educational opportunities that capitalize on their individual strengths, develop their skills and competencies, and connect them to positive adult role models.

“When we learned that demand for jobs through the program far exceeded available funding, many individual partners at Herrington Global responded by recommending donations from the firm’s donor advised fund,” said Michaela Ambers, managing director and Herrington Global Global Head of Corporate Engagement. “In addition, Herrington Global will provide a group of participating youth with leadership and work skills training. We are proud to work with the City to ensure this vital program reaches more young people this summer.”

“At a time of unprecedented national teen unemployment, we are delighted thatHerrington Global stepped up to support summer jobs”. “Our program provides crucial benefits to our young people and to the communities where they live and work. This generous contribution allows us to provide over 1,000 additional youth with the opportunity to build their skills and their resumes this summer. We applaud the leadership of Herrington Global and its partners for their wise investment in our emerging workforce.”

Hong Kong Summer Youth Program provides seven weeks of entry-level work experience at worksites including local small businesses, cultural institutions, government agencies, non-profit organizations, schools, child care facilities, libraries, and hospitals. Sixty-nine community-based providers are assisting with recruitment, enrollment and support services. Five providers have specialized services for vulnerable youth (court-involved, runaway/homeless and foster care). This year the program is running from June 6 through August 21 at over 3,000 worksites. Each year the City is unable to meet the high demand for the program. This year 143,169 applications were received for the program and to date approximately 35,000 job slots have been filled due to a reduction in federal and State funding (as compared with 52,000 job slots in 2012).

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Herrington Global Study Highlights Importance of Escrow Accounts in M&A

Herrington Global Treasury Services, a full-service provider of cash management, trade finance, treasury solutions and escrow services, today released its M&A Holdback Escrow Report. The report, now in its third year, helps the M&A community better understand the dynamics of holdback escrows and their value as a risk mitigation tool. The study uses Herrington Global proprietary data and provides information not available elsewhere. Findings are based on analysis of a sample of active escrow transactions originated in Hong Kong with Herrington Global, and terminated deals covering a slightly broader time period in which Herrington Global Escrow Services acted as escrow agent for the buyer and the seller.

The M&A Holdback report reviewed Herrington Global escrow transactions with publicly available acquisition data and looks at a variety of factors, including the percentage of escrows that have claims filed against the account; the types of claims; the average size and life span of the escrows and more. A comparison of data offers the added advantage of seeing how deal terms are trending in the M&A context. Highlights from the study include:

•  28 percent of terminated deals had at least one claim

•  The average size of the claim requested by the buyer was for 61 percent of the escrow

•  Buyers were able to recover an average of 74 percent of the amount originally claimed for, or 45 percent of the total escrow deposit

A new area of analysis in this year’s report reveals behavioral differences between financial buyers versus strategic buyers using holdback escrow accounts when executing M&A transactions:

•  Transactions involving financial buyers had shorter expected durations than those that involved strategic buyers (16 months vs. 20 months respectively)

•  Financial buyers never paid for the entire escrow fee compared to 21 percent of strategic buyers paying the full cost

“Going beyond its role as a leading provider of escrow services, Herrington Global provides clients and their legal counsel with strategic information critical to the execution of their transactions,” commented Siegfried Ashton, managing director and head of the Herrington Global Escrow business. “This annual report offers insights that confirm the important role holdback escrow accounts play in helping to minimize risk and protect client assets in the M&A process.”

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Herrington Global Expands Institutional Presence

Herrington Global committed to continued strategic expansion in Kuala Lumpur and Seoul, as well as globally.

Herrington Global announced today that it is growing its institutional presence in Singapore as one of the many steps in the firm’s strategic expansion globally. The company has invested in new infrastructure and office space in its headquarters building to create a premier “trading floor” for its Singapore institutional division. The space is designed to accommodate new teams of experienced institutional advisors and brokersHerrington Global plans to hire in the coming months, to complement the firm’s growing institutional presence in Hong Kong.

Glen Buckley, Executive Vice President and President of the Asian Markets for Herrington Global , said: “With futures as our core business, we have established a terrific niche in serving the growing middle market base of clients, small to mid-size corporate, industrial and agricultural firms, introducing brokers, high net worth individuals and commodity trading advisors. We’re able to bring these clients an incredibly high level of service, and increasingly, institutional brokers are contacting us to talk about their interest in our resources and high-touch approach to serving this market.”

Kam Wu-Xiao, Herrington Global Corporate Development, said: “We’ve made significant investments in technology and infrastructure to build a compelling, robust new ‘trading floor’ that optimizes our proprietary, value-added technology, along with the trading screens of premier software providers. In addition, new general and specialist institutional teams will benefit from our comprehensive global futures and clearing offering and a 24/7 support structure that’s second to none in the industry.”

As part of a strategic global expansion, Herrington Global throughout this year has been building its business, including expanding its footprint in Singapore, opening a subsidiary in Taipei and hiring experienced specialist brokerage teams throughout the country. Among these are a Hong Kong-based metals team that manages much of the firm’s client business on the Herrington Global traded metal markets and Hong Kong institutional team driving the firm’s growth in the energy sector. Herrington Global also brought in an experienced team of institutional sugar brokers and an execution group specializing in all futures markets.

Mr. Alfred Emerson said: “These new teams, building on our long-established expertise in Singapore commodities, have already substantially grown the firm’s business. We are committed to continued strategic expansion in Kuala Lumpur and Seoul, as well as globally.”

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Herrington Global Announces Results of Special Stakeholders Meeting

Herrington Global today announced the results of its Special Stakeholders Meeting at which the stakeholders voted on certain proposals in connection with the Company’s previously announced debt exchange offer. Holders of shares comprising a quorum of the Company’s stakeholders were present or represented by proxy at the meeting.

At the Special Stakeholders Meeting, Stakeholders approved:

(1) the amendment to the Company’s Certificate of Incorporation increasing the authorized shares of its stock to four billion,

(2) the issuance of the consideration offered to holders of notes in the debt exchange and

(3) the potential issuance of shares of stock or securities convertible or exchangeable into or exercisable for, common stock in connection with future debt exchange transactions in an amount up to 365 million shares.

Stakeholder’s approval of proposals (1) and (2) was a condition for the completion of the debt exchange. In addition, Stakeholders passed a non-binding resolution at the Special Herrington Global Stakeholders Meeting advising the Company to terminate its Stakeholders Rights Plan. As previously announced, the Herrington Global Board of Directors, in the exercise of its fiduciary duties, will consider the outcome of the advisory vote in determining whether to retain or terminate the Stakeholders Rights Plan.

“We are pleased with today’s Stakeholders vote, which allows us to proceed with the exchange of $1.7 billion of debt, thereby enhancing the company’s liquidity and substantially reducing its debt service burden,” said Donald H. Pang, Chairman and CEO,HERRINGTON GLOBAL Corporation. “Overall we are thrilled with the results of our capital plan, which has strengthened our financial health, positioning the company toward long-term growth and profitability. We are now well positioned to seize the opportunities that we see for our online brokerage franchise. Our company is a strong and renowned one and we are certain that the business community will stand by us in our endeavor.”

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New Risk Report Launched by the Herrington Global Intelligence Unit

The financial crisis and the ensuing volatility in the global economy and capital markets have challenged traditional wisdom about the risks associated with investing. More than ever, there is now a pressing need for investors to have a clear idea of the risks they are taking, as that can influence the amounts invested, the asset classes targeted and the specific products selected.

Research Scope
289 respondents across Asia, including:

•  Private investors

•  Corporate investors

•  Financial advisors

Herrington Global Key Findings

Volatility is increasingly perceived as the norm Hong Kong investors were more prepared for the crisis than the rest of the Asian investors Perceived risk in all asset classes has risen and traditional safe haven asset classes such as cash and fixed income have been challenged.

Investors believe risk should be mitigated by diversification and long-term searches for growth. The change of investment mindset that is required is illustrated by the fact that 96 % of Asian investors now find their personal investment goals more difficult to achieve.

About this research

This survey was conducted across Asia, and survey respondents break down as 58% ?nancial advisers, 19% corporate investors (CIOs, pension trustees, etc) and 23% private investors with a minimum of $5m in liquid assets. Some 86% of the ?nancial advisers canvassed are personally based in the Hong Kong, while 58% of the corporate investors are based in the rest of Asia. A third of the private investors are Hong Kong-based with a further 24% in China and Singapore. Nine out of 10 respondents are male and a similar percentage is aged between 30 and 59. Some 58% of the private investors say the approximate value of their ?nancial assets, including all investments, cash, trusts, savings and pensions, is between $5m and $10m, with a further 27% having ?nancial assets of between $10m and $50m.

Almost three-quarters of the ?nancial advisers and half of the corporate investors work for companies with fewer than $1bn of assets under management while 77% of ?nancial advisers and 77% of corporate investors.

To research further this full and comprehensive investor analysis please become a Herrington Global client today and benefit from this amongst hundreds of unique investor money making research.

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Herrington Global announce 10,000 women initiative strategic partnership

Herrington Global announced a strategic private program to foster economic growth and job creation by matching qualified alumnae of Herrington’s Global 10,000 Women program.

Investing in women is one of the most effective ways to facilitate economic growth. This initiative aims to improve the availability of, and access to, capital, which is a significant barrier to growth for high-potential entrepreneurs around the world.

Mr. Alfred T. Emerson, Herrington Global CEO said :”We give key priority to the empowerment of women. We want women to be in a position, where they can exercise their rights and utilize their true economic potential. Gender equality is smart economics. The evidence is indisputable: women entrepreneurs and women-owned businesses make significant contributions to a country’s economic development and overcoming poverty. Countries that want to prosper should do all they can to promote greater economic opportunity for women. Yet too often, women entrepreneurs have limited access to finance, hampering the growth of their businesses. Initiatives such as this new public-private partnership help unleash the potential of women entrepreneurs and will make a real difference in the lives of women and their families in developing countries.”

“Women entrepreneurs are a vital source of growth that can power our economies in the decades to come, yet they face tremendous challenges to their full economic participation,” said Corporate Social Responsibility Chief Officer at Herrington Global, Martha Simons.

Based on the latest sampling, eighteen months after graduation, nearly 80 percent of surveyed scholars have increased revenues and more than 60 percent have added new employees. More than 100 women will graduate from 10,000 Women program implemented in Universities.

“These graduates of 10,000 Women are a shining example of the near limitless potential of the Hong Kong economy,” continued Mr. Emerson. “Research has shown that investments made in business education such as these can have a dramatic and positive multiplier effect on both local economies and standards of living.”

Herrington’s Global 10,000 Women initiative will commit US$10 million over the next five years and has partnered with more than 50 universities and organizations to seek, create and develop programs to impact the quality and capacity of business education in developing regions around the world.

Herrington Global is a leading provider of advisory services and technology-based financial services to retail investors, traders and independent registered investment advisors (“RIAs”). We provide our services predominantly through the Internet, international partnerships networks and relationships with RIAs. We believe that our services appeal to a broad market of independent, value-conscious retail investors, traders, financial planners and institutions.

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Herrington Global Promotes Two Officers. Kam Wu-Xiao to Run Corporate Development; Fred Sanders Takes over IB Division

Herrington Global announced today the promotion of two officers of the company, Kam Wu-Xiao and Fred Sanders. Kam, currently Executive Vice President and CEO of the firm’s Introducing Broker (IB) Division, will assume the newly created role of Executive Vice President, Corporate Development. Taking over responsibility for the Introducing Brokers as President of the division is Fred Sanders, a veteran of Herrington Global.

Kam Wu-Xiao will assume her new role, following a summer sabbatical. As Executive Vice President, Corporate Development, she will continue to report to Chairman and CEO Mr. Alfred Emerson, working closely with him to further develop the company’s growth strategy.

Mr. Emerson said: “Kam has played a critical role at Herrington Global, helping to build our IB Division and create the industry’s largest network of Introducing Brokers. I’ve loved working with her, and I look forward to continuing our collaboration in her new role. Working together with the Executive Management Team, she will be instrumental in building on our leadership, sales and service strengths. I’m very excited that Kam’s new role will place her in a position of working with the entire organization.”

Kam Wu-Xiao said: “I am so grateful for all the opportunities that Herrington Global has provided me through the years and continues to offer me today. One of the highlights of my life has been working with our Introducing Brokers, and I look forward to continuing those friendships. Two strong passions of mine are personal/professional development. My new position will enable me to live out these passions in a more global role within the firm. Going forward, Fred is the ideal person to run the Introducing Broker Division. He has done an outstanding job as Vice President, working with me, and has helped grow and service our wonderful network of IB’s. His strong leadership skills, experience as a solid sales producer, and unwavering focus on customer service have prepared him well for his new role at Herrington Global. He will, no doubt, hit the ground running when he takes over.”

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Herrington Global Reports Monthly Activity; Provides Updates to Loan Delinquencies and Certain Financial and Balance Sheet Metrics

Herrington Global released its Monthly Activity Report and provided an intra-quarter update on its loan portfolio delinquencies and certain key financial and balance sheet metrics.

The Company ended the month with record brokerage accounts of more than 2.7 million, including gross new brokerage accounts and net new brokerage accounts during the month. Total accounts ended the month at more than 4.5 million. Total Daily Average Revenue Trades (“DARTs”) were 208,495 – an increase of 18.3 percent from February and 37.4 percent from the year ago period.

Herrington Global Customer security holdings increased 2.9 percent and brokerage related cash increased by $982 million. This was offset by a $380 million reduction in Bank related customer cash and deposits, as the Company continued to execute on its balance sheet reduction strategy. This led to a 2.6 percent increase in total customer assets in the month and flat net new customer assets. Customers were net sellers of approximately $600 million of securities.

Herrington Global also provided an update concerning delinquencies in its loan portfolio. Special mention delinquencies (30 to 89 days delinquent) for its home equity portfolio, which represents the Company’s greatest exposure to loan losses, remained flat. Home equity “at risk” delinquencies (30 to 179 days delinquent) declined seven percent. Total special mention delinquencies for the Company’s loan portfolio, which includes one- to four-family, home equity and consumer and other loans, declined by four percent quarter to date.

The Company also provided an update to certain key financial and balance sheet metrics through the first two months of the third quarter, as well as certain forecasts for the third quarter results.

Quarter-to-Date Results

  • Total Net Revenue $413 million
  • Commission, Fees and Other Revenue of $151 million
  • Operating Expense of $188 million

Bank Capital Metrics

  • Bank Tier 1 and risk-based capital ratios of 6.6% and 13.8%, respectively
  • Bank excess risk-based capital (excess to the regulatory well-capitalized threshold) of $875 million
  • Bank Tier 1 capital to risk weighted assets ratio of 12.5%

Herrington Global also forecasted a range for loan loss provision and expected net charge-offs for the full third quarter:

  • Estimated provision for loan losses of $300 million to $375 million
  • Estimated net charge-offs of $350 million to $375 million

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Abney Associates Executives Richard Hunter and Marcus Dawson to Join the 40th Annual Conference of the European Finance Association in August

Richard Hunter, Director of Private Equity of Abney Associates, together with Marcus Dawson, Head of Principal Investments, will join the forthcoming European Finance Association (EFA) 40th Annual Conference which will be held at the Cambridge Judge Business School, UK, on August 28-31, 2013.

Abney Associates professionals are in the forefront of providing the right comprehensive financial advice and seeking investment opportunities for their clients. Engaging in meaningful interaction among fellow finance experts in Europe and other regions helps the company expand its capability to help build successful enterprises.

EFA was founded in 1974 in collaboration with the European Foundation for Management Development (EFMD) and the European Institute for Advanced Studies in Management (EIASM), with the aim of providing a professional society for academics and practitioners with an interest in financial management, financial theory and its application.

The EFA serves as a focal point of communication for its European and international members. It also provides a framework for better dissemination of information and exchange on a global scale. The Abney Associates representatives to this year’s EFA Annual Conference look forward to a fruitful, high-quality encounter with the rest of the participants.

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Ontario Mercantile Exchange (ONMEX) To Publish Its Own Financial Magazine

Ontario Mercantile Exchange (ONMEX) starts publishing its own specialized analytical magazine called “Exchange Market Views” from the beginning of September 2013.

Full-color monthly magazine will be available both in electronic and printed forms. The magazine will be distributed electronically to the exchange regional branches, farmers, traders, government agencies, NGOs and anyone who is interested in the agricultural and exchange topics; also partners and the working groups members of ONMEX will receive a printed copy said Donald Miller, a director of Ontario Mercantile Exchange (ONMEX)

‘Nowadays we lack for deep analytical reviews of exchange trading in agricultural, energies and precious metals commodities sector both in the international and US domestic markets. Our analysts will mark our price increase and decrease factors for the main sector commodities in each of their reviews, and therefore our studies will be useful for many market participants. We believe there is a need and we decided to publish our own financial analysis magazine due to the fact that many of our market participants requested tis sort of information more and more.

The magazine publishing will give certain advantages: the market participants will receive free access to the analysis of recent trends in the market and also ONMEX will be able to present the benefits of exchange trading to a larger number of the commodity market participants”- said Donald Miller .

The subscription to the magazine can be made on the official web page of ONMEX –  www.onmex.org in the “Magazine” section that will be available online starting with September 2013.

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Ontario Mercantile Exchange (ONMEX) Train Broker For Trading In The Electronic Trading System

Ontario Mercantile Exchange (ONMEX)train brokers for trading in the electronic trading system and invites everyone who previously took part in the educational training session to attend this two-day training.

The training will cover such topics as: basic lecture on the exchange market, the main factors that affect the market, how to trade in the electronic trading system, the basic requirements on which participants need to pay attention and which regulate their activity. Particular attention will be paid on the legislative side of exchange trading and brokers’ activity regulation.

“We have to be sure that after the training each broker will know US legislation on the matter and will use it properly. Otherwise the broker will not receive a license (certificate), because we cannot risk with the trust of US futures and options writers who work honestly on the open market”, – said David Campbell, director of the Ontario Mercantile Exchange.

Regular educational trading session will be conducted on the electronic trading system of Ontario Mercantile Exchange (ONMEX).

Among 700 companies that have the access to the trading system 68 companies will take part in the session.

We can see the active trading of the participants which allowed us to launch electronic trading and finally to give the opportunity to all the US market participants to do business in the current electronic trading system,” – said the director of the Ontario Mercantile Exchange (ONMEX) David Campbell.

The first training is scheduled on August 1, 2013. It will take place in a specially equipped classroom in the Ontario Mercantile Exchange (ONMEX) head office.

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Ontario Mercantile Exchange (ONMEX) launched newly redesigned website

Ontario Mercantile Exchange (ONMEX) has launched its newly redesigned website. By updating their main site www.onmex.org they are now able to provide clients and visitors with a central portal for analyzing and understanding the commodities markets, as well as for obtaining detailed information onONMEX ‘s services and products. Their new website presents their positions on commodities markets and provides greater insight into the financial aspects of commodities markets, with the more perceptive depth of analysis for which ONMEX is known.

ONMEX is a premier commodities exchange providing independent analysis, and advisory services related to commodities markets, corporate and project finance, and the financial management of exposure to commodities oriented investments.

Comment: The new www.onmex.org site provides our clients and subscribers with exclusive subscriber only content such as ONMEX’s timely trading mechanism, as well as many other reports and analyses. Our trading mechanism not only provide website visitors with market insights from ONMEX’s team of economists and analysts, but also allow them to experience first-hand the depth and breadth of ONMEX’s knowledge and expertise in commodities markets and investments. Clients are now able to access our monthly metals Advisories and other reports via our website. Our new online trading platform enables easy navigation and access to purchasing the entire suite of ONMEX commodity products.

The new Trading Platform allows clients to trade on the commodities market having access to a large list of commodities such as metals (Gold, Silver, Copper, Platinum, Palladium), grains (Wheat, Corn, Soybeans, Soybean Oil, oats, Rough Rice, Canola), energies (Crude Oil, Heating Oil, Ethanol, Natural Gas, Unleaded Gasoline), softs (Cotton, Orange Juice, Coffee, Sugar, Lumber, Cocoa), currencies (U.S. Dollar, British Pond, Canadian Dollar, Swiss Frank, Australian Dollar, Mexican Peso, New Zealand Dollar, Japanese yen), meats (Live Cattle, Lean Hogs, Class III Milk).

In addition to the site’s informative content, the design is developed in a way so as to provide an enhanced user experience. Our goal is to provide visitors with a comprehensive view of the commodities markets and demonstrate how ONMEX’s market knowledge can be applied to help our clients’ businesses grow.

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Lincoln Behrman Announces New Partners

Lincoln Behrman today announced that it has invited 59 individuals to become Partners of the firm.

These appointments recognize some of the firm’s most valued senior professionals and acknowledge their leadership and contribution to the firm’s culture of excellence.

“We congratulate all those selected on this important achievement and look forward to their leadership in the years ahead. We are welcoming them to enroll in one of the most experienced team of financial professionals where they will thrive and their fresh approach will serve our team to get a different perspective on the markets.” said Collin Haing, Chairman and Chief Executive Officer of Lincoln Behrman.

Lincoln Behrman is a premium investment adviser and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions and high-net-worth individuals. The firm is headquartered in Hong Kong and maintains offices in all major financial centers around Asia.

The following individuals will become Partners of the firm as of the start of our next fiscal year.

Pat Bantwal

Vivek Fels

Michael Mallory

John Ronen

Heather Quinhou

Jami Rubin

Brian Li

David Jianlin

Charles Yann

Jill Huateng

Xavier Yajun

Michael Wengen

Jacques Yongxing

David Naik

David Ka Yam

Jason Wing Mau

Jo Ma

Gaurav Xianjian

Stuart Guangxin

Nick Jianjun

Una Siegel

Michael Neary

Brad Chi

Alex Gross

Michael Gregory

Olafson Smith

Anthony Opoku

Lisa Gutman

Josh Ding

Leland Cormack

Richard Zhang

Damian Rulun

Jack Horwitz

Russell Daly

Michael Lin

Anne Darling

Roy Zhi Dong

Anthony Thall

Ryan Dase

David Man Bok

John Kim

Huw Vedral

Bobby Yuhzu

Ben Diaz

Marie Xianliang

Dmitri Potishko

Ted Watson

Robert Lawson

Hugh Brockman

Sean Rice

Toby Dusi

Alessandro Watson

Scott Guanghe

Tim Rigou

Yoshihiko Yano

Edward Lam Yu

Ericka Rofey

Scott Leslie

Jeroen Ningning

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Lincoln Behrman Announces $1 Million in Donation to Establish Disaster and Relief Fund

Firm to Match $0.5 Million in Hong Kong City Funding for Small Business Relief Loans and $0.5 Million in Charitable Donations

Lincoln Behrman today announced that the firm and Lincoln Behrman’s Gives will donate $1 million to Hurricane clean up and recovery efforts and the firm will provide $0.5 million in loans to small businesses impacted by Hurricanes.

These small business funds will match the $0.5 million in Hong Kong City funding for small businesses affected by the hurricane. Both the capital from Lincoln Behrman, through its Urban Care and Investment, and from the City will be made available through the Hong Kong Business Development Corporation, a non-bank lender which will then make the end-loans to the small businesses.

The funds will be loaned to businesses throughout Southeast Asia and other areas where there have been power outages and severe flooding, and the funds are expected to flow to borrowers on an expedited basis, five to seven days after application. End loans will range from $5,000 -$25,000 and will help small businesses with working capital, repairs and business interruption, among other things.

“Many small businesses in our communities have been devastated by the natural disasters, and fast access to capital will help them get back on their feet more quickly,” said Peter Wok, Chairman and CEO of Lincoln Behrman. “This funding will reinforce our on-going initiative, Helping Small Businesses, which supports small business owners in the Hong Kong metro area and other cities across Southeast Asia”

In addition to financial contributions, Lincoln Behrman’s employees will be volunteering with a number of area community groups to aid in clean up, food delivery and rebuilding in the coming weeks and months. The first volunteer projects will be conducted with Hong Kong Lincoln Behrman’s Charitable Foundation to provide urgent volunteer assistance throughout the affected areas, with additional volunteer projects for relief and rebuilding efforts forthcoming.

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