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Considering Citigroup are one of the newest prime finance houses on the Street, they’re going a long way to establishing themselves as a major force. Key hires including Christy York coming in to run the European capital introduction team and Martin Visairis heading up the equivalent unit in Asia are giving Citi some ballast: indeed, for Asia itself, there are now over 80 prime brokerage staff, with the US bank focusing its recruitment on OTC derivatives, client services and futures.
“We’ve only really been around since 2008 when we consolidated the European and US platforms into an international platform. We
CLS Group Holdings AG (CLS Group) has appointed Gabor Butor as Head of European Regulatory Affairs. He will join the executive management team and report to CEO, Alan Bozian.
Gabor’s appointment underscores CLS’s commitment to developing its regulatory affairs initiatives, which he will lead in this newly created position. Gabor will play a crucial role in developing strong and collaborative relationships with key regulators in Europe. He has significant experience of financial markets policy as the lead negotiator for the Hungarian Presidency to the EU on financial markets infrastructure regulation and, prior to this, was Financial Services EU Advisor for
Irish domiciled UCITS funds have been disapproved for general investment by the Chilean Pensions Regulator, Comisión Clasificadora de Riesgo (the CCR).
The CCR is responsible for establishing approval procedures for, and approving shares of, inter alia, investment funds for Chilean pension fund investment. Under this authority, Irish funds were disapproved from general investment for failing to comply with the provisions of Article 15 of Decision No. 32 of the CCR which says that the rating of the country in which the fund, its manager or holding company are registered shall be at least Category A (defined as: S&P –
JP Morgan has successfully achieved two major tri-party repo milestones – the implementation of three-way trade matching for US Tri-Party Repo dealers and cash investors on 29 August, and the move of the daily unwind to 3:30 pm on 22 August in accordance with the previously-mandated Tri-Party Repo Market Infrastructure Reform Task Force deadline.
22 August was the third and final transition date to gradually move the unwind from early morning to 3:30 p.m., intended by the Task Force to reduce the reliance on intraday credit extended by the two major clearing banks. Since the new 3:30 deadline went into
Before the 2008 financial crisis, The USA’s largest financial institutions were trading complicated derivatives, called swaps, in the shadows, which helped propel the economy into a downward spiral, says Gary Gensler is chairman of the Commodity Futures Trading Commission…
Though the crisis had many causes, it’s evident that swaps – created to lower risk for Main Street businesses – heightened risk on Wall Street. Further, the swaps market created the belief that certain financial institutions were not only too big to fail but too interconnected to fail. When AIG, Bear Stearns and others faltered or crumbled, it was the taxpayers
The Securities and Exchange Commission (SEC) has charged James F Turner II and his New Jersey-based hedge fund firm Clay Capital Management, LLC with engaging in an insider trading scheme that involved the securities of three companies – Moldflow Corporation, Autodesk, Inc. and Salesforce.com, Inc.
The SEC also charged Turner’s brother-in-law Scott A. Vollmar, Turner’s friend Scott A. Robarge and Vollmar’s neighbor Mark A. Durbin for their roles in the scheme. In total, the scheme generated illicit gains of nearly USD3.9 million.
Filed in the US District Court for the District of New Jersey, the SEC’s complaint alleges that
Eisso VanderMeulen has joined Newedge as part of the firm’s Prime Brokerage Origination & Structuring team, reporting to Jonathan Gane, Head of Origination and Structuring, Americas in conjunction with Andy Waterworth, Head of Fixed Income and Currency Strategies in London.
Based in New York, VanderMeulen will focus on developing the FX Prime Brokerage component as part of the overall multi-asset class, multi-instrument Prime Brokerage offering.
Previously, VanderMeulen worked at RJ O’Brien where he built the FX clearing and execution platform. He started banking in 1989 in commercial lending and in 1993 joined ABN AMRO as a Relationship Manager
Irish legal investment funds advisory firm Dillon Eustace has opened a new office in Hong Kong as demand for locally-based expertise on European financial and regulatory issues increases.
The expansion builds on the firm’s existing presence in Asia where a Tokyo office has been in place since 2000.
Headed by Paul Moloney (pictured), Dillon Eustace’s Hong Kong office will serve many of Dillon Eustace’s existing Hong Kong – based clients as well as provide an additional point of access for the firm’s existing Chinese, Japanese and South Korean clientele.
The increase in the size of Dillon Eustace’s Asian
The DoubleLine Total Return Bond Fund has reached USD10 billion in assets under management, just 16 months after its launch in April 2010, according to DoubleLine Funds Trust and adviser DoubleLine Capital LP.
Jeffrey Gundlach, Chief Executive Officer of DoubleLine Capital LP and Philip Barach, President of the firm, manage the DoubleLine Total Return Bond Fund (I shares DBLTX; N shares DLTNX). The open-end fund I-share class (DBLTX) is ranked number one, its N-share class (DLTNX) ranked number two, for the one-year period ending 29 July, 2011 in the Morningstar’s Intermediate Term Bond Fund category out of 1,161 funds, based
Emerging market-focused hedge funds continue to curry favour with investors as their faith in a European and US economic recovery wavers.
