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Coherence Capital Partners, a New York-based asset manager and advisory firm focused on the fixed income markets, has hired Michael Cannon as a senior portfolio manager and partner.
Prior to Coherence Capital Cannon spent 16 years at UBS Investment Bank, most recently as managing director and co-head of investment grade credit trading.
Cannon has extensive experience in trading distressed, high yield, and investment grade credit. At UBS Cannon worked directly for Coherence CEO Sal Naro from 1999 to 2005 in addition to trading alongside Coherence Partners, Vincent Mistretta and Greg MacKay. Additionally, Cannon worked with fellow Coherence colleagues, Kevin
Cantor Fitzgerald Europe has expanded its European credit fixed income team with the appointment of Franz Bucher as managing director in London.
Bucher will focus on high yield, distressed debt and special situations, and on expanding Cantor's presence in German-speaking markets.
"We are pleased to welcome Franz to the Cantor team. As a seasoned professional, his deep industry knowledge and long-standing client relationships add immediate value to our European Credit fixed income team, which is an important growth area for our firm," says Shawn P Matthews, chief executive officer of Cantor Fitzgerald & Co. "We have been aggressively expanding
The Securities and Exchange Commission has named Michael J Osnato, Jr as chief of the enforcement division unit that conducts investigations into complex financial instruments.
Osnato, who joined the SEC staff in 2008 and has served as an assistant director in the New York regional office since 2010, has played a key role in a number of significant SEC enforcement actions.
Osnato helped spearhead the SEC’s case against JPMorgan Chase & Co and two former traders for fraudulently overvaluing a complex trading portfolio in order to hide massive losses, and the subsequent action in which the bank admitted that
Hedge funds took in USD17.5bn or 0.9 per cent of assets in November, according to a report from BarclayHedge and TrimTabs Investment Research.
This inflow was the highest in six months and the second-highest in the past two years.
“The hedge fund industry has taken in a net USD66.9bn in 2013, a healthy turnaround from an outflow of USD8.2bn in the same period in 2012,” says Sol Waksman, president and founder of BarclayHedge.
Hedge funds had net inflows in nine of the first 11 months of 2013.
Industry assets climbed to a five-year high of USD2.1trn.
Stratigis Capital Advisors has launched the Theta Alternative Income Fund.
The fund is the result of a strategic partnership with portfolio manager Eden Rahim and Michael Bird.
The Theta Alternative Income Fund provides investors with unique exposure to alternative yield solutions. The fund will manage a portfolio of specific finite-risk strategies to provide returns primarily from the listed index and ETF option markets. The fund is agnostic to market direction and does not use leverage.
"The Theta Alternative Income Fund addresses an important need to deliver absolute uncorrelated performance with low volatility and a favourable risk/return profile," says
Five out of seven of IndexIQ’s proprietary family of hedge fund replication and alternative beta indices ended the year with positive returns.
The IQ Hedge Event-Driven Beta Index led the way with a return of 1.25 per cent.
This was followed by the IQ Hedge Long/Short Beta Index (1.04 per cent), the IQ Hedge Market Neutral Beta Index (0.48 per cent), the IQ Hedge Emerging Markets Beta Index (0.39 per cent) and the IQ Hedge Emerging Markets Beta Index (0.33 per cent).
The two strategies to finish the year in negative territory were the IQ Hedge Fixed Income
Agecroft Partners has predicted the top hedge fund industry trends for the coming year, drawing on the firm’s contact with more than 2,000 institutional investors and 300 hedge fund organisations.
The top 10 trends in 2014 are:
1. Continued strong positive flows into the hedge fund industry driven by large institutional investors. 2014 should see the hedge fund industry reach a new all-time peak in assets as institutional investors continue to shift money out of fixed income and into hedge funds. This trend will continue as long as pension fund’s forward looking return expectation for a diversified hedge fund
Specialist accountancy and back office service provider Throgmorton has hired Denis Jackson as the firm’s business development director to lead the company’s drive into new markets.
The appointment comes as Throgmorton continues to strengthen its service offering and plans to further expand its client base.
With over 25 years of international financial service industry experience, Jackson will help Throgmorton identify new opportunities to add value to existing clients and identify new demand for its services.
Jackson’s’ previous role was with Tibra Trading, a privately held, technology driven proprietary trading business. Here he was regional general manager for
Deutsche Bank’s fund services business has appointed Kelly Gouveia as a vice president and head of its trustee business in Jersey. 


The fund services business in Jersey is a full fund service provider, providing third party fund administration, trustee and transfer agency services to hedge funds, private equity, real estate and fund of fund managers. The fund services business today services over USD200bn of assets globally.
In her new role, Gouveia (pictured) will be responsible for ensuring the trustee function for the fund services business in Jersey is effectively managed, governed and compliant with local legislation and regulation as
Akin Gump Strauss Hauer & Feld has promoted eight attorneys to the partnership, effective 1 January 2014.
Rob Boller is in the firm’s litigation practice. He represents companies, partnerships and individuals in a variety of litigation and criminal/regulatory matters, with a particular focus on disputes arising out of complex financial transactions. He also counsels creditors and creditors’ committees in litigation arising out of bankruptcy.
Brian Carney is in the firm’s litigation practice in New York. His practice focuses on complex commercial litigation matters in bankruptcy court, federal district court and New York state courts, especially matters involving private equity funds,
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