Julius Baer, a Swiss private bank, has rolled out a suite of model portfolios tailored for UK financial advisers. The new range will be overseen by Gareth Johnson, who previously spent 14 years running the Model Portfolio Service at Brewin Dolphin. The offering consists of two types of portfolios: “active” and “passive+”, reported FT Adviser. Both will cover risk profiles 3-8 as classified by Defaqto, Dynamic Planner and EV, the news publication said. The management of these models will be handled by ...

Trisura Group (OTCPK:TRRS.F) Fireside chat February 19, 2026 10:00 AM ET Company ParticipantsDavid Clare - CEOConference Call ParticipantsDoug Young - Managing Director and Senior Equity AnalystOperatorGood morning, everyone, and we apologize for the delay this morning. Thank you for joining us on today's call with David Clare, CEO of Trisura Group, and Doug Young, Bank and Insurance analyst at Desjardins. A quick reminder before we begin, as attendees, you are in listen-only mode. You will be able to submi ...

Throughout 2025, we talked about so many big moves happening around the XRP ledger with tokenization and we witnessed some of the biggest shifts in the market, even just around tokenization in general today. Well, that's not stopping. We are constantly seeing more major announcements around the XRP ledger.We're also starting to see tokenization become a even bigger deal than we thought possible. You know, going back to just 2025, we thought, you know, how could it get much bigger than this. Black Rockck's h ...

Group 1: Robinhood - Robinhood shares fell approximately 8% in after-hours trading due to a fourth-quarter revenue miss, reporting net revenues of $1.28 billion, below Wall Street's expectation of $1.34 billion [2] - The revenue shortfall was primarily driven by a 38% year-over-year decline in crypto transaction revenue to $221 million, with trading volumes on the core app dropping 52% [2] - Bernstein analysts maintained an Outperform rating with a $160 price target, viewing the revenue weakness as temporary "crypto jitters" and highlighting record predictions markets and plans for tokenization [2] Group 2: Canaan - Canaan's shares dropped roughly 7% despite reporting its strongest quarter in three years, with revenue surging 121% year-over-year to $196.3 million [3] - The revenue increase was driven by a 60% rise in computing power sales and a 98.5% jump in mining revenue, while the company holds a record 1,750 bitcoin in its treasury [3] - Concerns about a potential Nasdaq delisting were exacerbated as the stock price slid to 56 cents, with a warning to raise the share price above $1 by July 13 to remain compliant [3] Group 3: Institutional Adoption - Goldman Sachs reduced its bitcoin ETF holdings by 40% in Q4, indicating a recalibration in its approach to digital assets [4] - Franklin Templeton and SWIFT executives emphasized the future of banking as "24/7 and natively on-chain," with a focus on tokenizing money market funds to lower operational costs [4] - Danske Bank opened access to bitcoin and ether ETFs from BlackRock and WisdomTree for its clients, marking a shift from its previous restrictive stance [4]

Core Viewpoint - Aviva Investors is partnering with Ripple to tokenize traditional fund structures on the XRP Ledger, marking its first venture into tokenization and aiming to integrate blockchain-based products into its offerings [1][2]. Group 1: Partnership Details - The collaboration will enable Ripple to assist Aviva Investors in issuing and managing tokenized funds on the XRPL, which is designed for payments and financial transactions [2]. - This partnership represents Ripple's first collaboration with a Europe-based investment manager, enhancing its efforts to bring regulated financial assets on-chain [2][4]. Group 2: Industry Trends - Asset managers are increasingly adopting tokenization to modernize fund infrastructure, utilizing digital tokens to represent shares in various funds, which offers benefits such as faster settlement, lower operational costs, and broader distribution [3]. - Major firms like BlackRock, Franklin Templeton, and Hamilton Lane have already launched tokenized products, indicating a shift from pilot projects to live, regulated offerings for institutional investors [4]. Group 3: Technological Advancements - The XRP Ledger has processed over 4 billion transactions and supports more than 7 million wallets, maintained by 120 independent validators without relying on energy-intensive mining [5]. - Aviva Investors believes that tokenization can enhance time and cost efficiency for investors, reflecting a commitment to adopting technological advancements for positive business change [5][6].

Group 1 - Aviva plc (AVVIY) has seen a 4.4% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days and offers a dividend yield of 3.7%, significantly higher than the industry average of 1.7% [1] - Burke & Herbert Financial Services Corp. (BHRB) has experienced a 4.5% increase in the Zacks Consensus Estimate for its current year earnings in the past 60 days, with a dividend yield of 3.4%, compared to the industry average of 0.0% [2] - Southwest Airlines Co. (LUV) has reported a substantial 33.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2]

Investment Rating - The report indicates a positive outlook for European M&A activity, expecting continued momentum into 2026, with a strong case for consolidation across various sectors [3][4][6]. Core Insights - European M&A deal value increased by 12% in 2025, reaching approximately $820 billion, driven by a shift in investor asset allocation towards Europe [3]. - Corporate profitability in Europe has risen by 50% from pre-2008 levels, yet many companies remain sub-scale, indicating a strong need for acquisitions to build capabilities [5]. - A robust pipeline of announced but uncompleted deals, along with favorable capital availability and regulatory conditions, suggests sustained M&A activity in 2026 [6]. Summary by Relevant Sections 1. Banking Sector - European banking M&A has seen a doubling in deal volumes since 2020, driven by restored profitability and regulatory support for consolidation [13]. - Banks are expected to generate over $500 billion in excess capital above regulatory minima over the next three years, which will be increasingly deployed in M&A [15]. 2. Asset Management - The asset and wealth management sector is facing consolidation due to profit margin pressures, with predictions of a 20% reduction in the number of asset managers by 2030 [17]. - M&A activity is expected to intensify, with 100 to 200 transactions anticipated annually in Europe [19]. 3. Telecommunications - The European telecom market is maturing, necessitating M&A for value-accretive deals amid high investment needs for 5G and fiber [20]. - The average EU operator has about 5 million subscribers, compared to 107 million in the US, highlighting the need for consolidation [20]. 4. Defense Sector - Military spending in Europe is projected to grow at approximately 9% annually through 2030, leading to increased demand for production capabilities [23]. - M&A is shifting towards acquiring production capabilities, with a focus on modernizing technical advantages [25]. 5. Logistics - The logistics sector is prioritizing transformative M&A strategies to address e-commerce growth and traditional mail network contraction [28]. - Acquirers are focusing on contract logistics and technology capabilities as core to deal value capture [31]. 6. Pharmaceuticals - Pharma dealmaking is becoming essential as companies face patent expirations and pipeline gaps, with a focus on high-value assets [33]. - Transaction activity is expected to be dominated by selective, de-risked acquisitions and structured deals to manage valuation risks [36]. 7. Chemicals - The chemical industry is leveraging M&A to refocus portfolios on specialty segments and secure cash flow amid economic challenges [37]. - Larger transactions are aimed at building global platforms and enhancing sustainability efforts [39]. 8. Insurance - M&A activity in the insurance sector is driven by private equity consolidation, accounting for about 90% of transactions by volume [42]. - The report anticipates continued acquisitions of specialty underwriting franchises by strategic buyers [45]. 9. Private Equity - European corporates hold approximately €2.6 trillion in cash, creating opportunities for trade buyers of private equity-backed assets [48]. - In 2026, over 1,500 European PE-backed assets, representing $760 billion in enterprise value, could potentially come to market [49]. 10. Portfolio Rebalancing - Portfolio rebalancing is becoming a core theme in European M&A as companies respond to economic headwinds and high capital costs [56]. - One-third of European corporates deliver returns below their cost of capital, indicating a need for divestitures of non-core assets [56].

Group 1: Acquisition Details - Zurich has made a bid of £7.7 billion ($10.3 billion) for Beazley, which could be one of the largest insurance acquisitions ever [1] - Beazley is currently urging its shareholders to reject the deal, despite a surge in its share price following the announcement [1] - Beazley has previously rejected several offers from Zurich, indicating a complex negotiation history [1] Group 2: Market Position and Strategy - Zurich is the second-largest player in the UK SME market for standalone cyber insurance, holding a 7% market share in 2025, just behind Aviva [2] - The acquisition aims to reduce Zurich's reliance on the US market and strengthen its presence in the UK, where Beazley operates as a specialty insurer [3] - Zurich ranks as the fourth-largest insurer in the UK with £3.5 billion ($4.7 billion) in gross written premium (GWP) and a market share of 4.4% [4] Group 3: Growth Potential - The global cyber insurance market is projected to grow from $22.2 billion in 2025 to $35.4 billion by 2030, highlighting a significant growth opportunity [5] - Acquiring Beazley, a specialist in cyber insurance, positions Zurich to capitalize on this expanding market [5]

Group 1 - OTC Markets Group Inc. has announced that Tesco PLC has qualified to trade on its OTCQX Best Market, providing US investors access to one of the UK's largest grocery retailers [1] - Tesco's listing on OTCQX signifies a trend among established European companies to engage more with US investors, with several major issuers planning to trade on this platform in 2025 [2] - The OTCQX Best Market is seen as a solution to challenges in European capital markets, such as valuation discounts and reduced domestic liquidity, allowing companies to attract US investors without leaving their local exchanges [3] Group 2 - The OTCQX platform offers international companies a cost-efficient way to access US capital markets while maintaining their local market presence, thus enhancing investor reach and liquidity [4]

Core Viewpoint - Tesco has expanded its reach to US investors by qualifying to trade on the OTCQX Best Market in New York, providing American investors with transparent access to its shares without the complexities of a full US stock exchange listing [1][3][6] Group 1: Tesco's Strategic Move - The admission to OTCQX allows Tesco to enhance visibility and access for US investors while remaining listed in London, focusing on engagement rather than fundraising [3][5] - This move is part of a broader trend among European companies to utilize over-the-counter trading as a means to engage with global capital markets [2][6] Group 2: Market Context and Implications - The OTCQX platform is designed to complement primary listings, enabling companies to access US capital efficiently while maintaining their domestic market presence [4][6] - For the UK retail sector, broader access to international investors can improve liquidity and address perceptions of undervaluation compared to US counterparts [5][6] Group 3: OTC Markets Group Perspective - Tesco's entry into OTCQX enhances the platform's profile as a venue for blue-chip international issuers, supported by regulated trading infrastructure and disclosure standards [7]