New York Life Agrees To Acquire Dexia Asset Management

11 attacks founded a center devoted to combating terrorism. He’s now the new owner of the Florida Panthers , a source confirmed to ESPN.com’s Pierre LeBrun. Viola will be introduced in that role Friday after paying $250 million to buy the NHL franchise, said a person familiar with the situation, speaking to The Associated Press on condition of anonymity because the terms have not been made public. “I know the parties are working very hard on a transaction and they’re going to try to consummate it as quickly as possible,” NHL commissioner Gary Bettman said earlier this week. Viola will replace Cliff Viner, a longtime Panthers fan who became a co-general partner of the team in 2009 and took over as general partner, chairman and CEO the following year. Viola is the chairman and CEO of Virtu Financial, an electronic trading firm with offices in the U.S., Singapore and Ireland. He’s buying a team that has been to the playoffs only once since 2000 and finished with the fewest points in the league last season. Viola graduated from the United States Military Academy in 1977, was a major in the U.S. Army Reserves and is a graduate of New York Law School. He’s also long been involved with philanthropic projects and is a past winner of the Ellis Island Medal of Honor. In 2003, he founded and helped fund the creation of the Combating Terrorism Center at West Point. Completing the sale has had an immediate effect on the on-ice product, at least in one respect.

New York creates state-wide court system to help prostitutes

life insurer owned by policyholders, agreed to acquire a Dexia SA (DEXB) unit for 380 million euros ($512 million) as it expands its business of managing money for investors. Dexia Asset Management oversees about $100 billion, and the transaction will boost assets under management at New York Life Investments to more than $480 billion, the New York-based company said yesterday in a statement. The deal demonstrates our commitment to the global asset-management business which provides important earnings diversification, New York Life Chief Executive Officer Ted Mathas said in the statement. Mathas is among insurance executives expanding in asset management to increase fee income. New York Life struck a deal last year to take a stake in Cornerstone Capital Management Inc. Dexia, based in Paris and Brussels, is being wound down at the expense of French and Belgian taxpayers. The transaction is subject to regulatory approval and is expected to close on about Dec. 31, according to the statement. New York Life is paying the same price that Dexia was set to receive in its agreement with Hong Kong-based GCS Capital in December last year, a transaction that fell through in July because GCS wasnt able to meet its payment obligations. Dexia Asset Management, which gathers about 60 percent of its assets from clients at Dexias former bank units in Belgium and Luxembourg, had a carrying value of 300 million euros in the companys accounts at the end of June, according to its financial report . A distribution agreement with Belfius Bank NV, the former Belgian bank unit now owned by the countrys government, was renewed in March for at least 6 years. Banque Internationale a Luxembourg SA, the former Dexia unit in Luxembourg, also agreed to retain Dexia AM as its preferred partner for asset management for 6 years starting in September. To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net More News:

Some 3,700 individuals were charged in New York State with prostitution and related crimes last year. Every prostitution case not resolved at arraignment via a guilty plea or dismissal will be transferred to the special courts, where judges will determine with prosecutors and defense attorneys whether individual defendants are in need of services. The courts will link defendants with shelters, healthcare and drug treatment services, job training, education and other resources, and charges will be dismissed or reduced based on compliance with court-directed programs. In recent years, New York has passed a series of laws aimed at shifting the focus of prosecutions from sex workers to the pimps that employ them and the johns that hire them. The state made sex trafficking a crime in 2007, giving prosecutors a new tool to go after those who profit from prostitution. The legislature also passed a law allowing prostitution defendants under the age of 18 to enter into diversion programs and avoid jail time. The average sex worker first enters the industry in the United States at age 12 to 14, Lippman said. There is no clear data on how many young Americans are sold for sex. Estimates range from 1,400 to 2.4 million, according to the National Academies report, and experts say any tally is likely low because such crimes often go unreported. Asia Graves of Baltimore became a victim as a homeless 16-year-old when she accepted a ride with man who soon began selling her for sex. “When I told him I wanted to leave, he beat me for the first time. … Men came to the hotel and had sex with me. He told me he would kill me or let these men kill me if I did not have sex,” she told U.S.

Wall Street wistful about New York life without Mayor Bloomberg

was set to vilify everybody on Wall Street without depicting the good guys from the bad guys, Mayor Bloomberg on more than one occasion said that did not make sense,” said Willumstad, the former CEO of AIG. Goldman Sachs Group Inc executives recall a similar tale. In March 2012, the day after a Goldman vice president, Greg Smith, publicly resigned from the firm with a scathing op-ed attacking the bank’s culture in The New York Times, Bloomberg visited the investment bank’s trading floor, shaking hands along with Goldman Chairman and CEO Lloyd Blankfein. A DIFFERENT KIND OF MAYOR Bloomberg is occasionally spotted in the halls of JPMorgan Chase & Co, Citigroup Inc and Goldman Sachs. An avid golfer, Bloomberg plays with the likes of former U.S. Securities and Exchange Commission Chairman Arthur Levitt, who is on the board of directors of Bloomberg LP, and former JPMorgan CEO William Harrison. The mayor, who declined to be interviewed for this article, remains the majority owner of Bloomberg LP and the company has continued selling terminals to Wall Street. Bloomberg LP is a direct competitor of Thomson Reuters. Bloomberg’s vast personal wealth has also given him tremendous independence, freeing him from having to curry favor with donors. That freed him up to pursue an aggressive public health agenda, including a ban on smoking in public places, and to make significant changes to public education. His largesse often benefited the city. During his first term, he reached into his own pocket to help make up a city budget shortfall, and has since helped fund various city projects. Mayors Against Illegal Guns, a group he co-founded in 2006, is largely funded with Bloomberg money. But Bloomberg’s wealth has also helped open a rift with advocates for those on lower incomes. Earlier this month, Bloomberg said the city’s income gap could be explained by the number of billionaires in the city and said it would be a “godsend” if more billionaires came to town.