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State Street Corporation has appointed Paul McLaughlin (pictured) as head of operations for the firm’s Alternative Investment Solutions team in Guernsey.


McLaughlin, who has more than 15 years of experience in the alternative investment industry, joins State Street to help further build its alternative investment servicing business in Europe, Middle East and Africa (EMEA) with a particular focus on the private equity and real estate funds sectors.


McLaughlin joins from BNY Mellon in Dublin where he worked for 11 years, most recently as head of alternative investment servicing fund of funds and private equity for EMEA. He also gained experience
- 14/12/2011
Macro Risk Advisors (MRA), a provider of equity derivatives strategy and trade execution for institutional investors, has strengthened its team with the hiring of Michael Buckjune, Ed Lalanne and Frank Trentacoste.
The senior appointments are part of an ongoing expansion effort at MRA to further support its growing client base and meet increasing investor demand for cross-asset risk analysis.
“Michael, Ed and Frank bring deep understanding of risk across multiple markets,” says Dean Curnutt, the founder and CEO of MRA. “Their expertise will give our buy-side clients, including many of the industry’s largest hedge funds, the global risk perspectives they
- 14/12/2011
- 14/12/2011
Willem Sels (pictured), UK Head of Investment Strategy at HSBC Private Bank, on last week’s ECB meeting…
The European Central Bank (ECB) last week provided the expected 0.25% rate cut and came to the rescue of banks, but not Eurozone governments. It gave a big boost to banks, by agreeing to provide longer term liquidity against a broader set of collateral. Senior bonds of better capitalised banks in core Europe may benefit from the ECB’s decision. On the sovereign debt side however, liquidity risks are still substantial.
We do not share Mr Draghi’s view that European governments’ efforts to cap
- 14/12/2011
Hedge funds lost 1.04% in November, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is down 4.70% in 2011.
“The S&P 500 gained 0.10 per cent during the month, concealing stomach-churning intra-month volatility,” says Sol Waksman (pictured), founder and president of BarclayHedge. “Fears that a European banking system meltdown and a slowing Chinese economy would push the US back into recession drove US stocks down nearly eight per cent during the month, before coordinated government action rallied the markets in the final three days of November.”
Fourteen of Barclay’s 18 hedge fund indices lost ground in
- 14/12/2011
Tim Love and Joaquim Nogueira have both left CQS to join GAM as Investment Director and Investment Manager, respectively.
Love and Nogueira join GAM’s London office to manage a UCITS product in the GAM Star range, an actively-managed long emerging markets equity fund expected to launch in the first quarter of 2012. The fund aims to profit from the inherent growth potential in emerging market economies.
Both join from CQS where they managed a long/short emerging market equity portfolio. Love and Nogueira bring more than 31 years of investment experience to GAM alongside a wealth of region-specific knowledge and a
- 14/12/2011
- 14/12/2011
Emerging managers expect their hedge funds to achieve gains of 10% or more in 2012, according to the GAIM USA Survey of Emerging Hedge Fund Managers. The survey of 90 emerging managers (defined as having USD250 million or less in assets under management) found that 61% of the managers expect their portfolios to earn more than 10%, net of fees, while 31% of them expect to earn 15% or more.
GAIM USA, one of the world’s leading organisers of alternative investment conferences, also found that while emerging managers overwhelmingly (81%) cited “raising assets” as their biggest challenge, 40% of said that
- 14/12/2011
BlackRock has made its family of money market funds available to Euroclear Bank’s clients, enabling them to re-invest cash received as collateral in triparty transactions managed by Euroclear Bank. Re-investing cash collateral is a frequent challenge in this type of transaction.
For the first time, a new Euroclear Bank service feature gives triparty cash collateral takers the option to re-invest cash into an array of money market funds seamlessly through FundSettle. FundSettle is Euroclear Bank’s dedicated platform for fund transaction processing. BlackRock is one of the first providers of money market funds for this purpose. The cash re-investment service is
- 14/12/2011
NYSE Euronext and Deutsche Börse AG have submitted revised remedies to the European Commission’s Directorate-General for Competition (DG Competition).
The revisions are designed to reflect the European Commission’s feedback on the initial proposal, and thereby fully address the Commission’s remaining concerns while preserving the industrial and economic logic of the merger.
In summary, the parties have strengthened their original proposal with respect to European single equity derivatives by increasing the assets to be included in the divestiture, and to provide the purchaser of that business with an option to access Eurex Clearing for single equity derivatives products. The parties
- 14/12/2011
Kodak Retirement Income Plan (KRIP) is the seed investor for AlphaEngine Global Investment’s SMART Alpha investment program, an absolute return strategy that focuses on generating strong absolute returns, especially during periods when equity beta and typical absolute return strategies struggle to perform (eg, 2008 and 2011) and when typical corporate pension liabilities rise.
Timothy Barrett, Director, Pension Investments Worldwide at Kodak, says: “KRIP has a long and positive history of implementing innovative investment strategies. As a corporate pension plan, we need strategies that can generate strong returns which truly diversify asset risk, and have a positive correlation to liabilities. The
- 14/12/2011
State Street Global Advisors (SSgA) has appointed Michael Ho to chief investment officer for its active emerging markets equities and global macro capabilities.
Ho, who will be based in Boston, joins SSgA from Mellon Capital Management where he oversaw all investments as chief investment officer, responsible for approximately USD220 billion in assets under management, spanning all investment disciplines including global tactical asset allocation, currency, quantitative equity, active and passive fixed income and index equity strategies. Earlier in his career, Ho was head of research for Global Tactical Asset Allocation and oversaw hedge funds at Mellon Capital where he generated a
- 13/12/2011
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