Saro Capozzoli, more than 20 years of direct experience in China working for an ENI Group company, founded in 1998 JESA Investment and Management Ltd. During these years, Jesa has developed a large track record and network in Asia with local and government authorities, banks, and both Chinese and international Private Equity structures.

Jesa is an excellence boutique to which refer companies who want to be supervised in a thorough and capillary way on Chinese market. Jesa has offices in Shanghai, Shenzhen, Chongqing and Ulaan Bator, and has a steady relations network all over China. With more than 600 followed projects – both productive and commercial – in these last years Jesa is paying increasing attention to private equity investments and, thanks to its long experience, has been qualified as regular partner of one of the most important international financial structures with offices in London, Paris, New York and Abu Dhabi, in developing funds business managements in China and Mongolia. (more…)

M. Damian Billy is the founder and Managing Partner of Econophy Capital Advisors since 2007. With a fixed income portfolio management and financial product designer xperience, Michael held Managing Director role at JTU Capital, a Shanghai-based hedge fund. He also held the same position at American Diversified Funds, a Naples, Florida-based alternative investment firm specializing in managed futures. As an investment banker, he structured absolute return performance trusts for political entities. At PAMCO, Michael led strategy and change management teams for banks and other financial institutions. Prior assignments involved working with the SEC and FINRA regarding investor rights issues.  (more…)

The 8.5% decline in gold from its mid June highs further confirms that the yellow metal remains in function of Gold/EUR dynamics and no longer an inverse play off the US dollar

Aussie faces downside against EUR, GBP, CAD and to a lesser extent AUD

The Reserve Bank of New Zealand is expected to raise its overnight rate by 25-bps (21:00 GMT) for the 1st time since the 2008-9 easing campaign. (more…)

Salamanca Capital Investments, the Mayfair-based investment advisory business and part of the Salamanca Group, has acquired Barcelona Marina. Known locally as Marina Port Vell, the Marina dominates the heart of Barcelona. Salamanca has acquired the Marina from Global Via whose parent company, FCC, is one of Spain’s largest construction companies. It is understood that FCC is in the process of disposing of a number of non-core assets. Salamanca will work with the Spanish Port Authority to turn the Marina into the home of some of the world’s largest privately owned yachts, with some berths catering for vessels of up to 185 metres. Martin Bellamy, group chairman and chief executive of Salamanca, says: “Barcelona is one of the world’s most exciting cities and Port Vell is at its heart. This is a unique opportunity to turn the Marina into Europe’s most exciting mega yacht destination and in doing so add to the vibrancy of the city.”

BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group, has appointed five senior professionals in key areas of its US business, including M&A, business services and media, food, consumer and retail, and healthcare. Alexander (Sandy) Ayer joins BMO Capital Markets as a managing director in the M&A group; Noam Cohen joins as managing director in the food, consumer and retail group; Les Gorman joins as managing director and senior client coverage officer; Paul Griffin joins as managing director in the business services and media unit; and David Parrot joins as a managing director in the healthcare team. These latest appointments mark BMO Capital Markets’ continued expansion, which includes more than 450 new employees worldwide since last year, 112 of them in the US. “The continuing expansion of our US investment and corporate banking group demonstrates the firm’s commitment to build on our competitive and differentiated position as a leading North American investment bank,” says Perry Hoffmeister, head of US investment and corporate banking, BMO Capital Markets. “These new professionals have the sector knowledge, extensive client relationships and transaction experience to provide our clients best-in-class capabilities. They reinforce our expertise in some of the key industry sectors where we are focused. They join a seasoned team at BMO that specializes in delivering a full-suite of banking products and capital markets services to mid-cap and growth clients.”

Greenwich Investment Management has nominated Lawrence W. Doyle as president and chief operating officer. Doyle will be responsible for leading the firm’s portfolio management, fixed income, equity and new business units. Doyle spent 25 years on Wall Street before starting his new focus as a financial commentator with his website SenseOnCents.com. Doyle will continue the website and help Greenwich Investment Management and its Rieger Strategy to become better known. Doyle says: “I am delighted to join the GIM team as I believe the future for the firm is one of tremendous opportunity. GIM’s investment strategy and overall approach to higher return, low volatility, tax-advantaged wealth management is very much in sync with what more and more American investors are looking for.”

The International Capital Market Association’s office in London will be moving on 30 July to a new location. The new premises, at 23 College Hill EC4R 2RP, are located in the City of London. The ICMA will be welcoming members there for courses, seminars and committee meetings from September.

FOREX MORNING COMMENT

US durable goods orders for June were the latest set of economic data to disappoint coming in at -1% against an expectation of 1% and look to have prompted some light profit-taking on recent capital moves in to riskier assets. The Federal Reserve in its beige book also pointed to a spluttering recovery with sluggish housing and weak consumer demand and this has also weighed on sentiment. (more…)

Financial services industry veteran Jamie Ohl has been appointed as chief operating officer of Wilshire Funds Management.  Ohl will report directly to Lawrence E. Davanzo, president of Wilshire Associates. Ohl joins Wilshire Associates from Hartford Financial Services Group, where she was a senior vice president and director of the firm’s retirement plans group. In her new role, Ohl will bring her 20 years of experience in the investment industry to Wilshire to guide the investment, operations and growth efforts of Wilshire Funds Management.

BNY Mellon has appointed Mitchell Harris as the sole head of the company’s asset management business on an interim basis. Harris also continues in his role as chairman of the fixed income, cash and currency group of BNY Mellon Asset Management. The company is currently conducting a search for a permanent head of the asset management business. Jon Little, who had been serving as interim co-head of the business with Harris, is leaving to accept a new opportunity in the financial services industry. “Our asset management business has great management strength across our boutiques,” says Robert P. Kelly, chairman and chief executive officer of BNY Mellon. “The asset management leadership team has demonstrated resilience through challenging market cycles, continuing to provide our clients with strong investment performance and superior service around the globe. I’m pleased that we have the benefit of Mitchell’s outstanding leadership during this transition period and we wish Jon the best in his new role.”