LONDON, July 15 (Reuters)

HSBC Holdings Plc is halfway through a five-year plan to build an investment banking business.

HSBC is the world’s third-biggest bank by market value, wants to add global capital markets and merger advisory businesses to its corporate lending to boost profit.

The bank has hired about 2,000 bankers, raising pay rates and spending to break into the top tier. But despite some successes, its progress in the league tables so far has been limited.

HSBC combined various businesses in 2002 to form the corporate, investment banking and markets (CIBM) division. A year later it hired former Morgan Stanley dealmaker John Studzinski to run the business with HSBC veteran Stuart Gulliver and made CIBM a key plank of its plan for growth.

CIBM made 27 percent of HSBC’s $17.6 billion pretax profit last year. The division had total assets of $583 billion at the end of 2004, and its clients include 70 percent of the Fortune 500 list of the biggest U.S. companies.

Read more at Reuters

From New York Market Watch

JER Investors Trust (JRT: news, chart, profile) , a real-estate investment trust, priced 12.2 million shares at $17.75 a share, near the top of its $16.50 to $18.50 a share price range. The stock opened at $18.40 and closed up 3.1% at $18.30.

The McLean, Va.-based trust, managed by J.E Roberts Co., is trading on the New York Stock Exchange.

JER Investors Trust’s deal debuts amid an upswing in REIT stocks.

While rising interest rates, emerging alternative investments and "stretched" valuations may bite into the sector, historically low interest rates, strong real-estate fundamentals and continued risk aversion continues to fuel investor appetite for REITs, Citigroup Smith Barney told clients Thursday.

"We do not see an imminent catalyst to derail the current REIT rally," Smith Barney wrote in a note.

Meanwhile, KKR Financial (KFN: news, chart, profile) , a real-estate investment trust managed by private-equity firm Kohlberg Kravis Roberts & Co., debuted at $24 a share on June 24 in a bid to raise $800 million. The IPO traded at $24.68 on Thursday.

CryoCor IPO kicks off at $11 a share

CryoCor, Inc. (CRYO: news, chart, profile) priced 3.7 million shares at $11 a share. The stock opened at $11.07 and recently changed hands at $11.

The medical-device firm priced at the low end of its $11 to $13 range, but in a sign of health, it added about 700,000 shares to the deal.

CryoCor marks the latest open IPO from underwriter W.R. Hambrecht, a specialist in conducting online Dutch auctions from clients to determine IPO prices.

WORLD VENTURE SUMMIT: Presented by youngStartup Ventures — September 27-28, 2005 — New York City.

The World Venture Summit hosted by youngStartup Ventures is co-sponsored in part by the World Trade University, Canada’s Venture Capital & Private Equity Association, Indian Venture Capital Association, Red Herring, Asia-Silicon Valley Connection, VC Experts, Institute for Leadership Development, GETI, Mid-Atlantic - Russia Business Council, Global Entrepreneurs Network Organization, The Swedish American Chamber of Commerce, Inc., The Asia Pacific Venture Capital Alliance, China Enterprise Confederation - China Enterprise Directors Association, International Entrepreneurs Association, Hua Yuan Science and Technology Association, Global Trade & Technology Center, Wolet Capital Corporation, Asia America MultiTechnology Association, Zero 2 IPO, Action Community for Entrepreneurship, All India Biotech Association, Interlink China and the China Venture Capital Research Institute.

FEATURING:

VENTURE CAPITAL PANELS:

Hear 40 top-tier VCs on interactive panels discussing international investment trends, strategies and issues such as:

�         Valuing Early Stage International Companies in 2005

�         Major Innovations Transforming Biotech & Life Sciences Markets

�         The Do�s & Don�ts in Cross-Border Investments

�         What Global Startups Need to Know to Best Attract US Capital

�         Access Asia: Competitive Advantages & Unique Resources

�         Bridging the US and International Venture Gap

�         Emerging New Markets in Nanotechnology and Alternative Energy

�         Leveraging Strategic Partnerships Between US & International VC’s

�         Establishing a Physical Presence in a Foreign Market

NETWORKING:

Meet and interact with some of the hottest companies around, along with investors who are seeking great opportunities and companies looking to build solid relationships.

Registration Fees:

REGISTER NOW & SAVE UP TO $200

Register early and you’ll save $200 off the "at the door" fee, plus get an additional $100 off your second registration!*

"Early bird" registration is open. You�ll save $200 when you reserve your space by August 2nd. You can register online or call 718-447-0009 (*mention code wvs71305) to ensure you�re place for this prestigious VC gathering.

STARTUP PRESENTATIONS

Meet and hear promising early stage and emerging growth companies from various industry sectors including Wireless, Internet, Software, IT, Life Sciences, Biotech, Healthcare, Telecommunications, Energy, Nanotech present live to an audience of active investors.

CALL FOR COMPANIES:
Companies interested in a presenting and/or exhibiting opportunities should email a 1-2 page executive summary to plans@youngstartup.com by August 2.

From | Read more

Media Alert: Gartner Announces Financial Services Technology
Summit 2005

What: Gartner Financial Services Technology Summit

When: August 29 - 31, 2005

Where: The New York Marriott Marquis, New York, New York

Details:  Gartner Financial Services Technology Summit 2005 (FSTS) offers insight into the current state of IT in the Financial Services industry, analysis and evaluation of future trends and technology directions, and how to leverage these for competitive advantage over the next five to ten years. FSTS will tackle the complex IT issues and offer strategic planning and tactical advice for IT organizations in Banking, Investments & Securities, and Insurance.

This is shaping up as a critical juncture in the Financial Services sector where companies must better understand how to use both existing and emerging technology as an integral means toward:

– Improving operational efficiency and enterprise profitability

– Ensuring adequate risk-management strategies and meeting new regulatory and compliance requirements

– Revamping critical business processes that must be shared effectively among internal business units and external business partners

– Focusing on information management at the company level

– Increasing revenue by focusing on new markets, improving customer retention and exploiting technology to address changing customer needs

To attain knowledge and achieve these goals, attendees will gain insight into embracing opportunities for the innovative use and reuse of technology by refreshing their thinking and exploiting technology.

By Adam Kress | The Business Journal

Icrossing Inc., a national independent search engine marketing firm with offices in Scottsdale, landed a venture capital investment of $13 million Tuesday and added two board members in the process.

The deal includes new investors RRE Ventures of New York City and Generation Partners of San Francisco. The investment banking firm Piper Jaffray represented icrossing in the transaction.

"While we were already operating profitably, we saw the opportunity to further capitalize on the rapidly accelerating need for Fortune 1000 firms to deploy comprehensive search strategies," said icrossing Chief Executive and Chairman Jeffrey Herzog.

The new board members are James D. Robinson IV of RRE and John Hawkins of Generation Partners.

Robinson, a founder and general partner at RRE ventures, has been active within the technology community for over twenty years as a venture capital investor, banker, and entrepreneur.

Hawkins was a founder of Generation Partners and has been a managing partner since 1995. Prior to founding Generation, Hawkins was a general partner of Burr, Egan, Deleage & Co., a $700 million venture capital firm he joined in 1987.

Founded in 1998 and now with 130 employees, icrossing specializes in a wide range on Internet search technologies.

From | Read more

BALA CYNWYD, Pa., July 6 /PRNewswire, Susquehanna Financial Group (SFG) has launched an investment banking group.

The initiative comes on the heels of the successful launch of an institutional brokerage arm that includes the creation of an equity research group with more than 25 sell side analysts. SFG’s institutional brokerage arm has more than 2,000 accounts and sales coverage in all North American investment centers. These operations complement the firm’s historical leadership in market making and providing liquidity across all investment product groups. According to Joel Greenberg, managing director for Susquehanna, "Not many firms outside of the bulge bracket can offer the level and quality of research, distribution and liquidity that we can. As a result, introducing investment banking was a logical extension for us and fits our strengths."