Latest news with #ImpaxAssetManagement
Yahoo
5 days ago
- Business
- Yahoo
British Business Bank names Julia Bond as nonexecutive director
The British Business Bank has appointed Julia Bond as nonexecutive board director and chair of its remuneration committee. Her appointment as board director was effective from 19 May, and she will assume the role of chair of the remuneration committee from 1 July, the bank said in its press statement. Bond has extensive experience in global finance, public service, and long-term investment. She currently holds nonexecutive positions at Impax Asset Management, International Public Partnerships, UK Strategic Command, and the Foreign, Commonwealth and Development Office. British Business Bank chair Stephen Welton said: 'Julia brings with her a great deal of capability and experience in both the private and public sector, and I am pleased to welcome her onto the board of the British Business Bank. 'She joins at a pivotal time for the bank, at which we are set to play an even bigger role in shaping the future of the UK economy as a major catalyst to drive growth and access to finance, whilst helping to crowd in greater institutional investment.' Bond was previously a senior executive at Credit Suisse, where she led global fixed-income businesses and managed relationships with sovereign wealth funds, central banks, and institutional investors across Europe, Asia, and the Americas. She has also served as a nonexecutive director for the National Health Service, European Assets Trust, and ACCA, where she chaired multiple board committees, including those focused on audit, remuneration, environmental, social, and governance, and risk. Commenting on the new role, Bond said: 'The British Business Bank occupies a practically unique position as a UK public sector organisation which operates in commercial finance markets, and I look forward to bringing my knowledge and expertise in each of those sectors to my new role. 'I am delighted to be joining the bank at an exciting time for the organisation, as it significantly expands the scope of its activities.' Recently, the British Business Bank reached £5bn ($4.08bn) in lending through its ENABLE structured guarantee programmes. These programmes, including ENABLE Guarantees and ENABLE Build, have delivered more than £3bn to businesses outside London and the South East of England, supporting small and medium-sized enterprises across the UK, the bank said. "British Business Bank names Julia Bond as nonexecutive director" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
23-05-2025
- Business
- Bloomberg
Impax CEO Says Worst Is Over After Clients Pull $14 Billion
The chief executive officer of Impax Asset Management Group Plc said the pool of money it oversees is unlikely to shrink further, as the firm tries to right itself after a series of client redemptions. In the six months ended March 31, Impax saw net outflows of more than £10 billion, or roughly $14 billion, according to its latest half-year report. Of that, £6.2 billion was pulled by St. James's Place Plc. In all, assets under management have dropped by roughly a third since a 2023 peak, to just over £25 billion.
Yahoo
16-05-2025
- Business
- Yahoo
Fridays Get Hectic as Traders Prep for Weekend News From Trump
(Bloomberg) -- Fridays used to be a slow day for Tony Trzcinka, a portfolio manager at Impax Asset Management, but now it's the busiest time of the week. As Coastline Erodes, One California City Considers 'Retreat Now' How a Highway Became San Francisco's Newest Park Power-Hungry Data Centers Are Warming Homes in the Nordics Maryland's Credit Rating Gets Downgraded as Governor Blames Trump NYC Commuters Brace for Chaos as NJ Transit Rail Strike Looms What used to be a day for thinking about long-term trends has turned into a critical time to prepare portfolios for the kind of market moving news that President Donald Trump has made a habit of delivering over the weekend. Demand for Friday portfolio tweaks has been enough to make trading high-grade corporate bonds on Friday 31% more expensive than it is the rest of the week, according to analysis from Barclays Plc. 'We've definitely noticed more activity in the market on Fridays,' said Impax's Trzcinka, who oversees around $3 billion in assets. 'You don't know what's coming on the weekend.' The situation is a reversal of the trend in recent years, when Friday was the cheapest day of the week to buy and sell bonds. In March and April, the last trading day of the week accounted for 18% of weekly investment-grade corporate bond volume, up from 16% in 2023 and 2024, Barclays analysts Zornitsa Todorova and Andrea Diaz Lafuente wrote in a report. Their analysis focused on the total notional value of investment grade bonds changing hands each day. The increased tempo on Friday is part of a broader jump in activity across the markets since Trump re-entered the White House and disrupted the economic outlook with his often unexpected policy decisions on tariffs, immigration and foreign affairs. The average number of shares traded in the equity markets each week is up 37% in 2025 from what it was in the four previous years, while equity trading on Friday has jumped 42%, according to analysis done by Bloomberg Intelligence analyst Athanasios Psarofagis. The reasons for this jump were on display last weekend. On Friday, Trump said that he might be willing to lower the tariff rate on China to 80%. Then, early Monday morning, the situation changed dramatically when Treasury Secretary Scott Bessent announced a pause on many tariffs aimed at China and a reset in the trade negotiations between the two countries. The S&P 500 jumped 3.3%, the Nasdaq 100 Index pushed back into a bull market, and credit markets signaled a steep drop in investor fears about defaults. Mark Clegg, a senior fixed income trader at Allspring Global Investments in Milwaukee, said that Bessent's moves were only the latest lesson in the importance of de-risking portfolios before the weekend. 'No one want to be a tad too long or short versus their target and come in on a Monday morning to try to correct things after a massive market shift,' said Clegg. Clegg said he uses Fridays to 'shed any excess risk.' For Trzcinka, the preparations have involved selling credit and buying Treasuries, or migrating to higher-quality bonds to manage risk. In the corporate bond markets, the weekly trading patterns have also been changed by the rise of electronic trading and portfolio trading, which have made it easier to quickly buy or sell a whole basket of bonds. 'Everything has become a bit faster,' Todorova at Barclays said. 'Because things are faster, investors can afford to do this on a Friday because they have certainty that they would be able to execute.' The increased speed and volume, however, hasn't made the trading cheaper, especially for the asset managers who, in recent weeks, have been in a rush as the weekend approaches. 'Portfolio managers are forced to sell what they can, not what they want,' said David Schiffman, a portfolio manager at Cantor Fitzgerald Asset Management, adding that he is often on the lookout for relative bargains on Friday. 'The lack of direction and certainty on an almost daily basis is close to the most extreme levels I have seen in my career,' said Schiffman. Cartoon Network's Last Gasp DeepSeek's 'Tech Madman' Founder Is Threatening US Dominance in AI Race Why Obesity Drugs Are Getting Cheaper — and Also More Expensive As Nuclear Power Makes a Comeback, South Korea Emerges a Winner Trump Has Already Ruined Christmas ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
19-03-2025
- Business
- Associated Press
No Time To Waste for Women To Shape a Better World
After she had her first child and came back to work, my then-colleague Amy Orr (now of Boston Common), shared with me an interesting observation: she was getting more done at work, and with more impact. The urgent need to get home at the end of the day had sparked within her a new sharpness and focus to her workdays. Amy's experience proved part of a pattern that I've since observed across the financial industry: Many women seem to behave as though they don't have time to waste, and this leads to better relationships, greater excellence at work, and ultimately, greater positive impact on real humans. Take Kelly Baldoni of Impax Asset Management, who moderated the opening panel of a Pensions & Investments event honoring influential women last year. Kelly led by confessing that the previous year's event had left her feeling insufficient – not a CEO, pressured by working motherhood with littles, wondering what kind of success was even available to her. Her vulnerability shaped the opening discussion into a raw and applicable discussion on leading from the middle. The panel also eschewed introductions, in order to get into the real meat of the conversation, with a wave of the hand, a casual, 'Our bios are in the app.' I thought of countless panels I've attended wherein 'introductions' took the first 30-plus minutes, leaving little time for panelists to say anything more than skin-deep, and leaving attendees like myself left with scant new information, soon forgetting even the names of the speakers. By contrast, the entire P&I event was designed to push ego aside and focus on genuine relationships and actionable information – implicitly challenging us all to do the same.
