Asset managers
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Bank staff fall short on regulatory know-how
Nearly half of investment banks are concerned about the knowledge of their staff on regulatory matters, according to a new survey which supports calls for better education of bankers in light of the financial crisis.
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Och-Ziff funds post gains in June but assets drop
Publicly traded hedge fund manager Och-Ziff Capital Management saw gains in all its main funds during June, but investor withdrawals led to an $800m (€571m) decrease in assets under management for the month compared to May.
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Ex-UBS banker founds cleantech boutique
A former co-head of investment banking at UBS, who spelt out an ambitious target of turning the Swiss bank into the top M&A house in Europe only to miss that goal, is launching what he claims to be the first advisory boutique dedicated solely to the clean technology sector.
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SFO freezes Stanford assets at London banks
The UK Serious Fraud Office has obtained a restraining order for over $100m (€70.9m) of assets held at "certain London financial institutions" that are connected to the alleged Allen Stanford investment fraud.
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Is the worst now over for UBS?
When UBS persuaded Oswald Grübel to come out of retirement to become its chief executive, the former Credit Suisse head knew he was signing up for the most challenging job in European banking.
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Barclays must give more data on Lehman
Lehman Brothers received the blessing of a judge to investigate whether the hasty sale of its broker-dealer business to Barclays deprived it of billions of dollars.
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Wealth Managers Adapt To Changing Industry
A breakdown of long-standing business models and the crisis in client confidence during last year's financial spiral mean a new reality for wealth management firms.
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Polar Capital assets melt away despite hedge fund gains
The hedge fund assets at London asset manager Polar Capital Partners collapsed by almost two-thirds in the year to the end of March, despite five of its seven hedge funds making money last year.
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Nimble hedge funds outpace large rivals
Small hedge funds have used their ability to manoeuvre in and out of the markets with greater ease to outstrip the performance of their larger rivals this year, according to new research, and in some cases almost double the level of returns to investors.
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Multi-millionaire boutique launches new fund management initiative
Wheb Ventures, an investment boutique specialising in backing clean-tech companies and backed by Ben Goldsmith, is launching an asset management company and recruited two senior fund managers.
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Brummel
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”.
Rich Monitor
$95 Million Trump House Could Be Sold–Again
Donald Trump set a record when he sold a house for $95 million last year. It was, he proudly pointed out, the largest amount paid in the U.S. for a single-family home.
