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BCS Global Markets, a securities broker on the Moscow Exchange, has made five senior hires in its investment banking services team to drive the expansion of the group. The five hires are all experienced financial services professionals, who will help to further develop the investment banking division at BCS Global Markets. The team has grown to a total of 13 professionals at all levels.   Igor Ushakov, managing director, will run BCS Global Markets’ mining and metallurgical division. He has over 10 years of experience in investment banking. Prior to joining BCS he held a position of director at Sberbank
Loan and bond administrator GLAS has expanded its operations to Asia with the opening of a new office in Singapore headed by Paul Wilden. The move has been driven by an increased demand for alternative loan and paying agency, and escrow service providers as banks reduce their involvement in the market.   GLAS offers a wide range of administration services to lenders, borrowers, issuers and advisers across the loan and debt markets, specialising in complex deals including loan and bond restructurings. These services have been used by Atlas Iron, Consolidated Minerals and 3i Infotech since GLAS was established in Europe
The hedge fund industry posted overall returns of 2.17 per cent in July, the fifth consecutive month of positive performance and largest cumulative period of gains since May 2013, with the industry returning 6.96 per cent since the beginning of March. As a result, 2016 YTD returns now stand at 3.67 per cent, and 12-month performance has returned to positive territory for the first time since December, at 1.58 per cent.   All leading strategies posted positive returns for the month, with equity strategies (+2.78 per cent) and event driven strategies (+2.71 per cent) in particular making gains.   For
Bay-Area based investment management company HonTe Investments has appointed Joann Shie-Chen as operations manager, responsible for furthering the design and implementation of HonTe’s institutional-grade, operations platform.  Shie-Chen joins from over six years in operations and compliance at Sensato Investors, a USD4 billion investment adviser.     Previously, she held relationship management positions at both Barclays Global Investors and Goldman Sachs.   HonTe’s chief executive Christopher Lutton says: “We are thrilled that Joann has joined the HonTe team; she has the necessary knowledge, experience and professionalism to further our high operational standards. We will continue to build infrastructure around her, which
US Federal prosecutors have charged San Francisco hedge fund manager Nicholas Mitsakos with fraud, alleging that he schemed to raise money for his fund by falsely representing past performance and overstating the value of assets under management. Preet Bharara, the US Attorney for the Southern District of New York, announced charges of securities and wire fraud against Mitsakos alleging that from at least May 2014 through August 2016, he fraudulently solicited investments in a hedge fund that he had founded, Matrix Capital, by distributing marketing materials claiming that Matrix had millions of dollars under management and had achieved outsized returns
Bats Global Markets is to acquire Javelin SEF, a swap execution facility (SEF). The deal is intended to accelerate Bats’ plans to offer trading of non-deliverable forwards (NDFs) for the foreign exchange market.   Javelin currently offers trade execution for swaps through a combination of an anonymous limit order book and a request for quote model.   Dodd Frank provisions mandate that certain market participants trade NDFs on SEFs. The market is regulated by the Commodities Futures Trading Commission (CFTC).   “Our acquisition of Javelin underlines our commitment to the FX market and is an acceleration of our FX product
Intercontinental Exchange’s ICE Clear Credit has surpassed USD100 billion year to date in gross notional cleared for client accounts for single name credit default swaps (CDS). ICE Clear Credit is a global clearing house for credit derivatives clearing.   ICE Clear Credit launched client clearing for single name CDS in June 2013. Since launch, the number of clients actively clearing these instruments has grown consistently and is now over 100, with 90 per cent of client volume occurring since the start of 2015.   Year to date, over USD100 billion notional in single name CDS has been cleared at ICE
Global law firm Ropes & Gray has appointed Amanda Persaud as a partner in the funds practice in the firm’s 300-lawyer New York office. Persaud’s practice focuses on the formation, fundraising and operation of private investment funds, including private equity funds, hedge funds, credit funds and other types of alternative asset funds.   She regularly provides counsel on a wide range of governance, operational and regulatory matters affecting sponsor clients. She frequently advises on significant business transactions such as purchases and sales of asset management businesses, spinouts and key person separations.   Persaud joins Ropes & Gray from Wachtell, Lipton, Rosen
Alternative asset manager Mariner Investment Group has closed a USD503 million collateralised loan obligation (CLO), the third such transaction by Mariner's leveraged credit team. Mariner has now closed approximately USD1.5 billion in CLOs in the past two years.     "We are pleased at the continued success our team has achieved with its first three CLO's, and with our ability to capitalise on the current market environment," says David Martin, co-head of Mariner's leveraged credit team. "Our success reflects the strength and talent of our growing team, as well as ORIX's continued support of the Mariner platform."   Mariner's leveraged
John Frishkopf, head of the asset management and treasury group at New Star Financial, is to retire from the company on 30 September 2016.  Frishkopf was a founding member of the firm and has served in his current role since NewStar’s inception in 2004.    He will remain involved with the company as an external advisor to provide decision support to the management committee and to advise the risk committee of the board of directors as needed on strategic funding matters.    Frishkopf will be succeeded as treasurer by Michael Eisenstein, a managing director in the treasury group. Eisenstein joined

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