Mega companies are bigger than most countries. Quite a few pharma, food, oil and tech companies reach annual revenues of over $50 bln, exceeding the GDP levels of more than 2/3 of the countries in the world. Unusually, these mega companies have performed better than the broad equity markets in the past 12 months.

BofAML will provide certain products and services to Julius Baer, including the provision of global equity research, product offerings, as well as structured and advisory products. In addition there will be cross-referral of clients between both organisations.

Jean-François Mazaud replaces Daniel Truchi, who has decided to pursue new opportunities in the financial sector outside Societe Generale group. Patrick Folléa has been appointed Deputy Head of Societe Generale Private Banking

Karim Hajjaji has been appointed Chief Operating Officer of GIMS, the division of Societe Generale Group which comprises Private Banking, Asset Management and Securities Services. He joins the executive management of GIMS.

Pictet Asset Management, the asset management arm of the Swiss private bank Pictet & Cie, today announced the launch of Pictet-EUR Short Term High Yield fund, a Luxembourg-domiciled UCITS compliant fund, investing in EUR high yield short-dated bonds.