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Thomas Conheeney will step down as president of Point72, a family office managing the assets of its founder and chief executive officer, hedge fund manager Steven A Cohen.
Douglas Haynes has been named as Conheeney’s successor.
“I thank Tom for all that he has done during his 15 years at Point72, first as chief operating officer then as president,” says Cohen. “Under Tom’s leadership, Point72’s predecessor, known as SAC Capital, grew into one of the world’s most successful hedge funds. Among his many accomplishments, he led us through the 2008 financial crisis, the 2010 aftershocks and the crisis following
The SEC’s second annual staff report on the use of data collected from private fund systemic risk summarises how the data received from Form PF filers is used to protect investors and the integrity of the markets.
According to ConceptOne, the report is a clear mandate for the development, implementation and maintenance of a Regulatory Enterprise Risk Management (RegERM) system for the alignment of third-party disclosures.
The report highlights four areas of focus:
1. Examinations and investigations of private fund advisers
2. Risk monitoring activities
3. Providing additional guidance to filers
4. Working with other federal regulators
The US Commodity Futures Trading Commission (CFTC) has issued a no-action letter stating that it will not take enforcement action against the clearing house of the Chicago Mercantile Exchange.
This also includes certain clearing members of CME Clearing and depositories holding customer funds for such clearing members.
The no-action letter is in connection with the execution and submission to the Commission of a modified version of the template acknowledgment letter in Appendix A to Commission Regulation 1.20.
Regulation 1.20 requires futures commission merchants (FCMs) to obtain, from each depository with which the FCM deposits customer funds, a written
S&P Dow Jones Indices (S&P DJI) has announced that no Russian stocks will be removed from its indices.
The index provider launched a consultation on 31 July regarding Russian securities in its indices.
Following the end of its client consultation regarding government sanctions placed on Russian companies, and following research conducted by S&P DJI as to the applicability of the sanctions put in place in various jurisdictions, no Russian stocks will be removed from S&P DJI indices and no adjustments will be made to its indices at this time.
“Based on comments received from stakeholders as well as
SQL Power is to integrate its pre-engineered, eSignature ready regulatory platform at the Cayman Islands Monetary Authority (CIMA).
The solution will handle collection, analysis, and reporting of prudential returns and entitlements data submitted to CIMA by up to 40,000 of its regulated financial entities, across banking, trusts, insurance and hedge fund categories, and will unify and streamline CIMA’s regulatory operations across all sectors.
“The best regulatory software in the world meets one of the most complex and sophisticated regulatory business models in the world…and we welcome the challenge,” says Sam Selim, president and SQL Power co-founder. “We’ll be displacing
Philippe Teilhard de Chardin, chief executive officer of Advisors & Partners, has agreed to join the advisory board of Common Sense Investment Management.
Teilhard de Chardin was previously the global head of prime brokerage and chairman of the prime brokerage board at Newedge, a division of Société Générale.
Over 22 years working for Newedge and its predecessor Fimat, he founded and managed the prime brokerage business line, ultimately managing a global team of over 175 professionals in Tokyo, Hong Kong, Singapore, Dubai, Geneva, Paris, London, New York, Chicago & San Francisco. The team focused on the provision of prime
By Fiona Le Poidevin – A number of clean energy funds have been launched in the last two years, a significant proportion of which have raised capital through a listing on an international stock exchange. Many have also their choice of domicile for incorporation as a common factor.
March 2014 saw the launch of NextEnergy Solar Fund Limited as a Guernsey domiciled closed-ended collective investment fund focusing on operational solar photovoltaic assets located in the UK. The investment fund successfully raised GBP86 million for its listing on the premium segment of the main market of the London Stock Exchange (LSE).
This was
The Credit Suisse Hedge Fund Index finished down 0.31 per cent for the month of July with five of the ten sub-strategies ending the month in negative territory.
Managed futures saw the biggest decrease with a return of -1.03 per cent, followed by long/short equity (-0.97 per cent), equity market neutral (-0.70 per cent), event driven (-0.59 per cent) and global macro (-0.01 per cent).
Dedicated short bias was the best performing strategy finishing the month with a gain of 2.00 per cent.
The other sub-strategies to see positive returns were convertible arbitrage (0.06 per cent), emerging markets
Clients of wealth manager and trust company San Antonio Capital Management can now invest in customised portfolios of top-tier hedge funds through an alliance with Crystal Capital Partners and Deer Isle Capital.
Crystal Capital offers wealth managers the ability to develop custom-tailored portfolios of hedge funds for each investor’s specific objectives, supported by rigorous due diligence, research, analytics, portfolio optimization tools and operational support.
“Our partnership with Crystal Capital enables us to deliver highly customised investment solutions to our clients. We are gaining access to exclusive investment options typically only available to some of the world’s largest investors, at
Jersey Finance has appointed Robert Christensen as the new chairman of its board in succession to Jonathan White.
Christensen, who has over 35 years of experience in trust and company management services within Jersey, has been the managing director of Volaw Group since 1988, having been a founding director of Volaw in 1982.
He was instrumental in the establishment of Jersey Finance and served as a non-executive director for Jersey Finance from 2000 until 2008.
A member of the Society of Trust & Estate Practitioners and holding the Trustee Diploma of the Chartered Institute of Bankers, Christensen has
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