Sunday, 22nd November 2009

 
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28 October 2009 - Press Briefing

Galleon nears completing liquidation exercise

The unwinding of the portfolios at Galleon Group's hedge funds is "more than 90% complete", and the firm is still on course to repay its investors by January 1, sources told the old Dow Jones Newswires on Tuesday, according to a report in The Wall Street Journal.

It is understood that Raj Rajaratnam's firm has managed to sell its stock holdings - including in companies such as Apple, Google and OSI Pharmaceuticals - at advantageous prices, resulting in "very little value leakage".

Tags: Hedge Funds

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Relocation, relocation, relocation

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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