Cleary Gottlieb Steen & Hamilton LLP opened an office in Abu Dhabi yesterday after receiving a license from the Abu Dhabi Executive Council. Partner Gamal Abouali, who was based in Paris, has relocated to Abu Dhabi to head the office.
Wall Street’s biggest lobbying group is split over a proposed settlement of state and federal foreclosure probes, after a committee of money managers signaled it opposes terms letting banks push some costs onto bondholders.
Nomura Holdings Inc., Japan’s biggest brokerage, hired top-rated Sanford C. Bernstein & Co. analyst Michael Nathanson as head of U.S. media and telecommunications equity research, according to a person familiar with the matter.
New York’s $140.6 billion pension fund ended relationships with two managers of U.S. large cap stocks, AllianceBernstein Holding LP and Capital Guardian Trust Co., as the third-largest U.S. retiree plan moves money into assets like timber and gold as well as “opportunistic” funds.
Impax Laboratories Inc. was sued by the Teva Pharmaceutical Industries Ltd. unit Cephalon Inc., alleging infringement of four U.S. patents for the drug Fentora, used to treat pain associated with cancer.