Reuters Money: Morgan Stanley picks new leader for sales to the very wealthy

	Click to View in Browser 05/15/2014 Morgan Stanley picks new leader for sales to the very wealthy NEW YORK (Reuters) - Morgan Stanley on Wednesday named Eric Benedict, an 18-year veteran of the brokerage firm, to run its U.S. private wealth management business for clients with $20 million or more to invest. Hedge fund mogul Tepper warns: Don't be too long U.S. stocks LAS VEGAS (Reuters) - Billionaire hedge fund manager David Tepper sounded a cautious message on Wednesday, telling a ballroom packed with other managers and investors that he was "nervous" about the stock market but that this was not the time to sell. China relaxes rules for securities firms BEIJING (Reuters) - China is relaxing rules for securities companies to allow them to expand their business and offer new products, another step in deepening reforms in its fledging capital market. Brazil's Grupo BTG Pactual in talks with Italy's Generali over BSI sale SAO PAULO (Reuters) - Grupo BTG Pactual SA, Latin America's largest independent investment bank, is in exclusive talks to buy wealth management firm BSI from Italian insurer Generali SpA, according to a statement Wednesday by Generali. Allianz calls on Pimco to reverse investor flight FRANKFURT (Reuters) - German insurer Allianz has called on its California-based asset manager, Pimco, to prove itself after investors withdrew a further 22 billion euros ($30 billion) in the first quarter, denting group earnings. Firms may leave risk unprotected due to 'onerous' derivatives rules GLASGOW (Reuters) - Companies will stop managing certain risks and leave themselves unprotected if derivatives trading rules become too onerous and expensive, the head of a trade body representing more than 4,000 corporate treasurers has said. Russia fund manager facing tough times, gets no help from Putin BOSTON (Reuters) - Voya Russia Fund manager Nathan Griffiths works from The Hague, but worries he could be trapped in Moscow. Tradeweb to provide in-house fixed-income pricing on BlackRock system NEW YORK (Reuters) - Trading platform Tradeweb Markets LLC will provide fixed-income securities and derivatives pricing in-house on BlackRock Inc's investment and risk management system, BlackRock, the world's largest money manager, said on Wednesday. Four ways to influence how new grads handle money NEW YORK (Reuters) - When her son recently turned 18, Lisa Kirchenbauer and her husband had him sign papers to take control of an account for minors they had long ago set up as a college fund - which had grown to about $60,000. U.S.-based bond funds attract $5.5 billion, most in year: trade group NEW YORK (Reuters) - Investors in U.S.-based mutual funds poured $5.5 billion into bond funds in the week ended May 7, marking the biggest inflows in a year on continued outperformance in the sector, data from the Investment Company Institute (ICI) showed on Wednesday. Related Video Stocks fall, bond yields hit 6-month low Dow winning streak continues Business News Jobless claims hit seven-year low, inflation ticks up Wall Street opens lower after Wal-Mart results The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend