Monthly Archives: March 2009
FSA faces multimillion claim for failing to stop Terry Freeman trading
Times Online – The Financial Services Authority is facing a multimillion-pound compensation claim from a group of investors who say that the City watchdog failed to stop the activities of a suspected rogue trader. Former clients of GFX Capital Markets, […]
Fed Approves Intercontinental Credit-Default Swap Clearing Plan
Bloomberg – Intercontinental Exchange Inc.’s bid to be the top U.S. guarantor of credit-default swap trades won Federal Reserve approval, leaving the Securities and Exchange Commission as the futures market’s final regulatory hurdle. Intercontinental and larger rival CME Group Inc. […]
Former Merrill execs invested in Madoff funds
Reuters – Top former Merrill Lynch executives, including two former CEOs, invested in hedge funds that lost money with alleged fraudster Bernard Madoff, becoming the highest-level Wall Street victims of the scandal to date, the Wall Street Journal reported on […]
Bridgewater Tops List of Biggest U.S. Hedge Funds
Bloomberg – Ray Dalio’s Bridgewater Associates Inc. overtook JPMorgan Chase & Co. to become the biggest U.S. hedge-fund manager, even as the firm lost assets during the industry’s worst year, according to a survey. Bridgewater, based in Westport, Connecticut, managed […]
Icahn Puts Another $250 Million Into His Fund
New York Times – The billionaire financier Carl C. Icahn put another $250 million into his hedge fund at the beginning of the year after suffering further losses in the fourth quarter on investments in Motorola and Yahoo, according to […]
A Hedge Fund Managers Mutual Twist
CNNMoney.com – In what looks like a sign of the hard times in the hedge fund world, AQR Capital Management – one of the industry’s biggest names – is opening its doors to the retail market. In January, the investment […]
Hedge funds see $159-bn outflows in Oct-Dec period
Business Standard – Spooked by increasing performance losses and record investor redemptions, the global hedge fund industry saw net outflows worth $158.91 billion in the fourth quarter of calendar year 2008, the highest level since 1994. According to a report […]
UBS Names Former Finance Minister Villiger Chairman
Bloomberg – UBS AG, Switzerland’s largest bank, nominated former Finance Minister Kaspar Villiger as chairman of its board of directors, replacing Peter Kurer after one year amid a probe into whether it helped wealthy Americans evade taxes. Kurer’s departure comes […]
Blackstone marks down D Bank debt
Financial Times – Blackstone marked down the value of billions of dollars worth of debt it bought at a discount from Deutsche Bank to zero, demonstrating that the group bet too early on a recovery. Blackstone bought the debt in […]