Written by Lam Jian Wyn
Friday, 08 January 2010 16:42
www.theedgemalaysia.com
KUALA LUMPUR: CIMB Islamic Bank Bhd has clinched the “Best Overall Islamic Bank” award by the 5th Annual Islamic Finance News (IFN) Awards Poll 2009.
The bank said on Friday, Jan 8 that it had also clinched several awards in the same poll, which were the "Most Innovative Islamic Bank" and "Best Islamic Bank in Malaysia".
The bank also recorded a first when it was named the "Best Islamic Wealth Management Provider", whereas CIMB-Principal Islamic Asset Management was voted the "Best Islamic Fund Manager".
The group head of Islamic banking division of CIMB Group and chief executive officer of CIMB Islamic Badlisyah Abdul Ghani said: "Despite the tough economic environment, the year 2009 has been a rewarding for us, as we saw strong growth of our Islamic finance business across all market segments regionally."
In the IFN Awards Poll, readers choose the best Islamic financial services providers across a series of markets and sectors. IFN readers comprise of Islamic finance issuers, investors, non-banking financial intermediaries and government bodies from around the world.
Link:
CIMB Islamic Bank clinches Best Overall Islamic Bank award
Saturday, January 9, 2010
Tuesday, January 5, 2010
Towers Perrin and Watson Wyatt complete merger, now Towers Watson
Written by Ellina Badri
Monday, 04 January 2010 23:08
KUALA LUMPUR: Towers Watson & Co has completed the merger of Towers Perrin and Watson Wyatt to form Towers Watson, a global professional services company listed on the New York Stock Exchange and the Nasdaq.
In a statement today, Towers Watson said Watson Wyatt chief executive officer John Haley would serve as Towers Perrin chairman and CEO, while Towers Perrin CEO Mark Mactas would become deputy chairman, president and chief operating officer.
The deal had been valued at US$4 billion (RM13.68 billion).
"We are delighted to finalise the merger and look forward to bringing a broader portfolio of services to our clients," Haley said.
"When it comes to managing costs, risks and people, the world is growing more complex everyday. Towers Watson is uniquely positioned to help our clients gain the perspective necessary to take the right actions to drive business results," he added.
Meanwhile, Mactas said with the combined experience, breadth and depth of skills, Towers Watson would be able to provide greater insight as it worked with its clients and greater opportunities for its people and shareholders.
As a result of the merger, Towers Watson was expected to issue 46.9 million shares of Class A common stock and 29.5 million shares of Class B common stock, which would be subject to transfer restrictions and would generally convert into freely-tradable shares of Class A common stock on a one-for-one basis over the next four years.
Towers Watson would also pay US$200 million in cash and issue one-year promissory notes in an aggregated principal amount of US$200 million to certain former Towers Perrin shareholders who had voluntarily elected to terminate their employment with the company.
Link:
Towers Perrin and Watson Wyatt complete merger, now Towers Watson
Monday, 04 January 2010 23:08
KUALA LUMPUR: Towers Watson & Co has completed the merger of Towers Perrin and Watson Wyatt to form Towers Watson, a global professional services company listed on the New York Stock Exchange and the Nasdaq.
In a statement today, Towers Watson said Watson Wyatt chief executive officer John Haley would serve as Towers Perrin chairman and CEO, while Towers Perrin CEO Mark Mactas would become deputy chairman, president and chief operating officer.
The deal had been valued at US$4 billion (RM13.68 billion).
"We are delighted to finalise the merger and look forward to bringing a broader portfolio of services to our clients," Haley said.
"When it comes to managing costs, risks and people, the world is growing more complex everyday. Towers Watson is uniquely positioned to help our clients gain the perspective necessary to take the right actions to drive business results," he added.
Meanwhile, Mactas said with the combined experience, breadth and depth of skills, Towers Watson would be able to provide greater insight as it worked with its clients and greater opportunities for its people and shareholders.
As a result of the merger, Towers Watson was expected to issue 46.9 million shares of Class A common stock and 29.5 million shares of Class B common stock, which would be subject to transfer restrictions and would generally convert into freely-tradable shares of Class A common stock on a one-for-one basis over the next four years.
Towers Watson would also pay US$200 million in cash and issue one-year promissory notes in an aggregated principal amount of US$200 million to certain former Towers Perrin shareholders who had voluntarily elected to terminate their employment with the company.
Link:
Towers Perrin and Watson Wyatt complete merger, now Towers Watson
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