“there might be a more legitimate reason why many wealth managers steer clear of Norway” -- David Bain
Sunday, 22nd November 2009
Edward Fillipi, who spent a year selling commodity investment products for Lehman Brothers, has raised $35m (€24.6m) for a hedge fund that will target energy, metals and agricultural derivatives, according to a Bloomberg report.
The start-up may begin trading in the first quarter of next year, Filippi said.
Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.
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