Nasdaq appoints new management for China
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The Nasdaq Stock Market   has appointed new management in Asia, seeking to boost  listings by companies in China and elsewhere in the region.
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The chief executive of the London Stock Exchange has shepherded the exchange through changes that have attracted two suitors, the Deutsche BÃ¶rse and Euronext.
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The Treasury Department appointed a new director Tuesday for its agency that targets terrorist financiers and enforces economic embargoes against Cuba and other countries.
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By Channel NewsAsia&#39;s Hong Kong Correspondent Roland Lim. HONG KONG : Standard Chartered Bank has named a new chief executive officer for its Hong Kong operations.
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China on Monday unveiled a new leadership team expected to give President Hu Jintao a stronger hand in ruling the country for five more years while a successor is groomed to take over in 2012.
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Alcatel-Lucent&#39;s head of enterprise systems, Hubert de Pesquidoux, will take on the role of chief financial officer as part of a management shake-up intended to streamline decision-making. The company has suffered from lackluster performance since its formation from the&#160;merger of Alcatel and Lucent Technologies&#160;last December.CEO Patricia Russo announced the changes Wednesday, at the same time&#160;outlining a three-point plan for restoring the company to profitability. The company also reported a third-quarter loss of &#8364;345 million ($492 million) on revenue of &#8364;4.35 billion.Russo will in future be advised by panel of seven senior executives, down from 11 before. Just two of them are former Lucent employees: Cindy Christy, who will add Central and Latin America to her existing responsibility for North American sales, and John Meyer, head of services, a role he held at Lucent.The merging of North America with Central and Latin America in Alcatel-Lucent&#39;s sales structure is part of a broader move to simplify the way the company sees the world, splitting it into just two regions: the Americas, and the rest.Former CFO Jean-Pascal Beaufret is &quot;leaving the company to pursue other opportunities,&quot; but will remain for a short period as he hands over to de Pesquidoux. It wasn&#39;t immediately clear if de Pesquidoux would also remain head of the enterprise systems group or if Alcatel Lucent would seek someone else.De Pesquidoux, a former merchant banker, is also part of the new management team. He used to run Alcatel&#39;s North American operations before taking over the merged company&#39;s enterprise systems division. Although enterprise systems is the smallest of the company&#39;s business units, contributing just &#8364;380 million of its &#8364;4.35 billion revenue last quarter, it is the best performing, with an operating profit margin of 7.6 percent.The remaining members of the management team are Chief Technology Officer Etienne Fouques, head of human resources and communications Claire Pedini, carrier business group head Michel Rahier, and Frederic Rose, who heads up the company&#39;s business in Europe, the Middle East, Africa, and Asia Pacific.Rahier will oversee one of the biggest changes in the company&#39;s product structure, as it eliminates the layer of management that divided the carrier business group into separate wireless, wireline and convergence teams.Other changes ahead for the company include a tighter focus on products to help carriers transform their networks to an all-IP (Internet Protocol) infrastructure, a move from products to value-added services, and a more streamlined organization with fewer staff in support functions to eliminate post-merger duplication.Pedini&#39;s role in human resources is particularly significant as the company prepares to shed a further 4,000 jobs by 2009, having already cut 3,800 in the first half of this year. Her approach is likely to focus on the numbers -- the company hopes the job cuts will save it a further &#8364;400 million -- rather than the people, as she worked for four years as Alcatel&#39;s deputy CFO, only taking on the role of vice president of human resources and communications in January 2006.This article was updated with new information on October 31, 2007.
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Bear Stearns, which bailed out two hedge funds with $1.6bn, hires a new head of asset management.
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China's ruling Communist Party on Monday unveils a new leadership line-up to steer the world's fourth-biggest economy for the next five years, with President Hu Jintao likely to promote younger potential successors.
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Red Hat Inc. hired a new chief financial officer as it tries to bolster its sagging stock price and expand into new foreign markets.
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NEW YORK, October 12  - The global pharmaceutical giant, Merck &amp; Company (MRK.NYS) plans to appoint a new CEO by the end of next year.
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Nasdaq will start an options exchange to capitalize on a growing market whose competitors and structure are rapidly changing.
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The London Stock Exchange opens an office in Beijing, as it aims to attract listings by Chinese companies.
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NEW YORK -- The Nasdaq Stock Market said Thursday it plans to enter the crowded options-trading business with the creation of an equity and index options market.
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BEIJING -- China and the U.S. agreed to allow the Nasdaq market and New York Stock Exchange open formal business offices in China, Chinese Finance Minister Jin Renqing announced Friday at the end of two days of high-level talks with U.S. officials.
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Putnam Investments yesterday overhauled the investment groups that manage small and midsized stocks, in an effort to boost performance in several funds. Two veteran fund managers are retiring as part of the shake-up.
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Citigroup has replaced Catherine Weir, its top official in China, with Richard Stanley, reversing a management reorganization made six months ago.
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China is committed to revamping its foreign exchange regime and further relaxing its capital account controls, central bank governor Zhou Xiaochuan said on Saturday.