Author Archives: the HedgeCo News Team
ABN AMRO breaks off brokerage business
AMSTERDAM/LONDON: The Netherlands”biggest bank ABN AMRO said yesterday it had signed an agreement to sell its professional brokerage business in the US to Merrill Lynch for an undisclosed amount. ABN AMRO said on December 31 it was in talks to […]
SEC Turns its Attention to Mutual Fund Brokerage Scandals
WEST PALM BEACH, FL (HEGECO.NET) – Just when investors think the mutual fund scandals are behind them, a new phase of investigations is initiated. This time the US Securities and Exchange Commission[SEC] is directing its full attention on mutual fund […]
Gemini Investments Strategies Launches New Hedge funds
WEST PALM BEACH, FL (HEDGECO.NET) – The New Jersey based Gemini Investment Strategies has unveiled new hedge funds; according to a new statement released by the firm. The new fund, utilizingconvertible arbitrage strategy requires a minimum investment of $1million. Speaking […]
CALpers begins review of Franklin Unit
WEST PALM BEACH, Florida (HEDGECO.NET) – The largest pension scheme in the United States, the California Public Employees Retirement System[CALpers] has started its review process for FranklinResources Inc, whose investment management arm Franklin Advisors oversees CAPpers US$780 million stock fund, […]
European Hedge Funds Post Losses Associated With Parmalat Scandal
What does a former meat packing business in Parma have to do with hedge funds one may ask? Why has such relationship facilitated recent hedge fund losses in some European Convertible Arbitrageportfolios? Calisto Tanzi took over the management of a […]
Morgan Stanley guilty of defamation
PARIS: A Paris court yesterday found US financial powerhouse Morgan Stanley guilty of defamation in its investment research, sending shockwaves through the investment banking industry. Following an acrimonious 14-month legal battle, the court upheld allegations by global luxury leader LVMH […]
Livermore Trading System to be Licensed to First Foundation Financial Services, Inc.
NEW ORLEANS, Jan. 13, 2004 (PRIMEZONE) — Stock Market Solutions (OTCBB:SMKT) announces that under an arrangement with First Foundation Financial Services, Inc, a Canadian financial firm, theLivermore Trading System is to be used exclusively in the trading management of a […]
Nightly Business Report
xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: January 13, 2004> Time: 18:30:00> Tran: 011300cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Paul Kangas, Susie Gharib> Guest: Robert Doll, Louis Uchitelle> Spec: Business; Economy> Time: 00:00:00> PAUL KANGAS, NIGHTLY […]
Fund Manager Testifies at Tyco Exec Trial
A hedge fund manager testified Tuesday that Tyco International Ltd.’s former chief executive, L. Dennis Kozlowski, assured in a January 2002 conversation that company’s board had signed off on a $20million investment banking fee for a director. Several directors have […]
BISYS Insurance Services Selects Beacon Research to Enhance Website for Producers
Approximately 100,000 Agents, Brokers and BISYS Support Staff to use Web-Based Front-End Application for Fixed Annuity Product Selection EVANSTON, Ill., Jan. 13, 2004 (PRIMEZONE) — Beacon Research announced today that it has been selected to provide a customized front-end application […]
SEC weighs in on mutual fund reform
SEC weighs in on mutual fund reform Changes would focus on independent directors By KEN MORITSUGU Knight Ridder Newspapers Tuesday, January 13, 2004 Washington — Federal regulators and lawmakers want to reinforce what many industry experts say has been a […]
Guidant Lands High-Profile Physician for New Chief Medical Officer Position
Jan. 12–Nearly 2 1/2 years after Guidant Corp. decided it wanted a companywide chief medical and technology officer, it landed one with a high profile. Dr. Beverly H. Lorell moved last month into her 28th-floor office at Guidant’s headquarters in […]