4 Financial Stock Stories Making Midweek Waves

Deutsche Bank AG (NYSE:DB): Current price $44.76

The number-one currency trader on the planet has hired Gaurang Chadha to become managing director in its North American foreign-exchange investor sales team in New York. Chadha had served as co-chief of foreign-exchange hedge fund sales for the Americas at Goldman Sachs Group where he worked for five years, said in a statement released by Deutsche Bank. Chadha, who also worked at Citigroup and ABN Amro Bank NV, will report to Liza Duke and Daniel Swasbrook, co-chiefs of investor sales, North America.

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American International Group Inc. (NYSE:AIG): Current price $48.06

AIG has extended its deadline for the sale of its $4.8-billion ILFC aircraft leasing business to a Chinese consortium to August 31, according to the Thomson Reuters publication Basis Point on Wednesday, which cited sources. Last week, AIG Chief Executive Bob Benmosche reported on a post-earnings conference call that the insurer is open to an initial public offering of the division if a deal collapses. The Chinese consortium, which has missed prior deadlines, includes P3 Investments, New China Trust Co., one-fifth owned by Barclays Plc and China Aviation Industrial Fund.

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ING Groep (NYSE:ING): Current price $11.01

The Dutch financial group ING surpassed second-quarter profit predictions at its banking unit, saying that it might announce additional cost savings later in 2013 as it continues to pare itself down in a push to rebound from the financial crisis. Shares in ING surged more than 5 percent to 8.3 euros on Wednesday, marking their highest level since 2011. Analyst Omar Fall at Jefferies observed that “ING remains the most mis-priced restructuring story in the sector in our view, and we expect this value to finally be crystallised as the group enters the last stages of its restructuring.”

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The Blackstone Group (NYSE:BX): Current price $22.94

Blackstone has finalized its purchase of Strategic Partners from Credit Suisse Group AG. Strategic Partners is a secondary private equity business of Credit Suisse, having assets under management worth $10 billion. Earlier, Blackstone Capital Partners V, a private equity fund managed by Blackstone, announced the completion of the purchase of GCA Services Group from Nautic Partners, L.L.C. and other minority shareholders. In September of last year, Blackstone had reached a deal with real estate finance company Capital Trust, Inc. to buy the latter’s investment unit.

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