Asset Management Competitor Tracker: Q3, 2010

Introduction
The Asset Management Competitor Tracker provides expert analysis and opinion on the strategic moves of leading competitors in the asset management space. Produced on a quarterly basis, the Tracker is a global product and covers over 45 players and their associated brands, including BNP Paribas, BNY Mellon, Commerzbank, HSBC, Rabobank and Schroders.

Features and benefits
Gain invaluable information on your key competitors in one concise document, and track long-term trends using the interactive news database.
Sharpen your strategy by implementing the best market, product, competitor and strategic developments of leading global players.
Learn the Datamonitor Wealth & Investments Team's view on the most important competitor developments in the month.
Highlights
The third quarter of 2010 saw a decrease in competitor developments compared to the previous two quarters. The number of developments stood at 57, which was significantly down on the first quarter high of 101 competitor movements.

The majority of competitor developments during the quarter were related to M&A, Partnership and Organic Growth developments. One example of a key development this quarter includes BNY Mellon's acquisition of BHF Asset Servicing.

Your key questions answered
What have been the key product developments and innovations amongst my competitors?
Which regions have experienced the most competitor activity?

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TABLE OF CONTENTS
Overview 1
Catalyst 1
Summary 1
Methodology 1
Introduction 7
The Asset Management Competitor Tracker provides both one-month and 12-month views of developments 7
Each quarter, Datamonitor tracks the most relevant announcements from 48 competitors 7
Datamonitor’s Asset Management Team provides analysis of the key developments 7
A fully searchable database of the past 12 months of developments is also delivered alongside the report 8
Key Trends and Developments in Q3 2010 9
The number of developments in the asset management industry was lower in Q3 compared to the previous two quarters 9
Competitor developments numbered 57 in Q3 2010 9
M&A, partnerships and organic growth accounted for the majority of activity in Q3 2010 10
Western Europe remains the most active region for asset management developments 13
Product Innovation and Customer Targeting 15
Aviva 15
Aviva announces the launch of Aviva Lisséo Duo Septembre 2011 – September 2010 15
Barclays 15
Barclays launches the market-linked Wealthbuilder Bond – September 2010 15
BNP Paribas 15
BNP Paribas Securities Services launches Chinese yuan bonds in Hong Kong – September 2010 15
BNY Mellon 16
BNY Mellon’s new approach attracts corporate pension plans – July 2010 16
BNY Mellon provides services for exchange-traded fund short positions – July 2010 16
BNY Mellon Asset Management launches a new global bond fund – September 2010 16
BNY Mellon Asset Management launches a new global equity fund – September 2010 16
Citibank 17
Citi launches support services for hedge funds and private equity funds – September 2010 17
Deutsche Bank 17
Deutsche Bank announces launch of automated equity trading services – August 2010 17
Henderson 17
Henderson extends its Central office Fund I – August 2010 17
Henderson launches agriculture hedge fund – September 2010 18
Henderson announces next fund targeting apartment properties - September 2010 18
HSBC 18
HSBC France announces the launch of HSBC Cap 18 – July 2010 18
HSBC launches new bond fund – July 2010 19
J.P. Morgan 19
J.P. Morgan adds regulatory reporting capabilities for GASB 53 requirements – July 2010 19
J.P. Morgan launches regulatory reporting capabilities for Money Market Funds – September 2010 19
Merrill Lynch 20
Merrill Lynch launches an ETF algorithm for its clients – July 2010 20
Morgan Stanley 20
Morgan Stanley and PSAM launch UCITS III Fund – August 2010 20
Morgan Stanley introduces research application for iPad and iPhone – August 2010 20
Pictet 21
Pictet launches a UCITS III-compliant environmental fund – August 2010 21
Rabobank 21
Rabobank launches 100-year bond – September 2010 21
Rabobank Pensioenfonds to reassess its investment portfolio – July 2010 21
Schroders 22
Schroders to improve defined benefit schemes with Flight Path – September 2010 22
Société Générale 22
Société Générale adds five new series of options on ETFs – July 2010 22
M&A, Partnerships and Organic Growth 23
ABN Amro 23
ABN Amro restructures business after merger – July 2010 23
Allianz 23
Allianz Real Estate announces acquisition of retail assets from Aldi Süd – August 2010 23
AXA 23
AXA renews agreement with BNP Paribas – August 2010 23
AXA Asia Pacific Holdings extends response period for National Australian Bank – July 2010 23
BNP Paribas 24
BNP Paribas Investment Partners launches investment forum with Erik Orsenna – July 2010 24
BNP Paribas announces the migration of Banco Popolare di Milano's depository bank business – July 2010 24
BNP Paribas announces investment in Irish windfarm – August 2010 24
BNP Paribas Securities Services to reorganize its business – September 2010 24
BNP Paribas Asset Management to divest stake in SYWG BNP Paribas – September 2010 25
Bank of New York Mellon 25
BNY Mellon acquires PNC's Global Investment Servicing business – July 2010 25
BNY Mellon Asset Servicing forms Global Financial Institutions Group – July 2010 25
BNY Mellon to provide stress tests to OneAmerica funds – August 2010 25
BNY Mellon acquires BHF Asset Servicing– August 2010 26
Citigroup 26
Citi announces sale of stake in fund of funds and co-investments business – July 2010 26
ZAO Citibank partners with Allianz ROSNO Asset Management – September 2010 26
Commerzbank 26
Commerzbank launches joint brand with Dresdner Bank – September 2010 26
Commerzbank divests its stake in Brazilian subsidiary to Scotiabank – September 2010 27
Deutsche Bank 27
Deutsche Bank enters into partnership with Craigs Investment Partners – August 2010 27
Deutsche Bank finalizes its takeover offer for Postbank – September 2010 27
Henderson Global Investors 28
Henderson Global Investors divests stake in Brewery – September 2010 28
Henderson acquires prime holding retail units in Maidenhead – August 2010 28
HSBC 28
HSBC expands presence in India with acquisition of Royal Bank of Scotland’s local operations – July 2010 28
HSBC partners with TOTSA for trading of energy-related products – July 2010 28
ING 29
ING to sell its stake in Canadian property portfolio – August 2010 29
J.P. Morgan 29
Mediolanum awards third-party securities lending mandate to J.P. Morgan – July 2010 29
J.P. Morgan to deliver fund administration and prime custody services to AQR Capital Management – September 2010 29
Julius Baer 30
Julius Baer further expands its footprint in Asia – September 2010 30
Lloyds Banking Group 30
Lloyds Banking Group to sell integrated finance services to Cavendish Square Partners – July 2010 30
Old Mutual 30
Old Mutual receives proposal to acquire controlling stake in Ned bank – August 2010 30
Santander 31
Santander buys stake in Bank Zachodni WBK – September 2010 31
Schroders 31
Standard Life selects Schroders’ funds for platforms – August 2010 31
Société Générale 31
Société Générale to strengthen its presence in Poland – September 2010 31
Société Générale Securities Services to provide asset management fund services to Credit Suisse – July 2010 31
Appendix 33
Methodology 33
Further reading 33
Ask the analyst 33
Datamonitor consulting 33
Disclaimer 33


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