Latest News
Structured finance and derivatives lawyer Jeffrey H Chen has joined Cadwalader, Wickersham & Taft’s Hong Kong office as partner. Chen, formerly with Mayer Brown JSM in Hong Kong, will be a part of the Capital Markets team.
"Jeff is a highly regarded capital markets lawyer. He brings to Cadwalader extensive knowledge of and experience with complex structured finance products," says Christopher White, Chairman of Cadwalader. "With great talent like Jeff, we continue to develop our full suite of debt, equity and hybrid capital markets services to clients throughout Asia. We look forward to his contributions to the Firm and to
International law firm Stephenson Harwood has appointed James Tinworth as a corporate partner to the firm’s funds practice in London. Tinworth joins from Simmons & Simmons LLP in a further boost to the corporate funds practice, following the appointment of Patrick Mousset in Paris from Mayer Brown in July.
He joins a team of five partners with specialist skills in investment trusts, property funds, open-ended investment companies (OEICs), hedge funds, venture capital, private equity, renewable energy funds and other investment vehicles in the UK and offshore jurisdictions.
Tinworth specialises in investment management and investment funds work, with a
Sauer Capital’s Alternative Investment Services, has introduced enhanced accounting and reporting functionality for side pocket accounts and special purpose vehicles (SPVs). The new service offers hedge fund managers greater flexibility in structuring their funds and managing illiquid or long-term assets.
Delivered via Sauer Caputal’s proprietary fund accounting platform, the automated service enables fund managers to easily segregate illiquid investments. Capital and/or earned income, along with applicable profit-carry forward, can be automatically moved from the side pocket to the main or "trading" portfolio, giving fund managers more ways to manage realised events within the side pocket. In addition, flexible investor statement
Since Xetra-Gold – a zero-coupon bond with perpetual maturity, representing a gram of gold, which is 100% backed by physical gold and represents the right to the delivery of gold – launched in 2007, investors have made use of this physical backing 500 times and taken delivery of a total 2.5 tonnes of the precious metal. For investors, owning a unit of Xetra-Gold is equivalent to owning one gram of physical gold. Fees for packaging, transport and insurance apply, which depend on the quantity delivered.


“Investors have a choice of small bars in several different sizes (1 gram to 1000
ALPS Fund Services (ALPS), a provider of administration services to the alternative asset management industry, has appointed Michael W Gull as Vice President, Business Development for the firm.
Gull, who has 20 years of Wall Street experience, will be responsible for growing ALPS’ hedge fund administration business on the East Coast.
“With the continued growth of our Boston operations and the large number of managers launching new products in New York, New Jersey, and Connecticut, we are excited to have Michael on the ground for us in Manhattan,” says Jeremy May, President of ALPS Fund Services. “Michael has a proven
The hedge fund industry took in USD3.8 billion (0.2% of assets) in June, the sixth straight inflow as well as the eleventh in 12 months, according to the latest figures from BarclayHedge and TrimTabs Investment Research.
Industry assets decreased to USD1.806 trillion from USD1.822 trillion in May because performance was poor. The Barclay Hedge Fund Index decreased 1.0% in June.
“Investors were very kind to hedge funds in the first half of the year,” says Sol Waksman (pictured), founder and President of BarclayHedge. “The industry raked in USD73.0 billion (4.0% of assets), which goes down as the heaviest first-half inflow since 2007. But
Royal Bank of Scotland (RBS) has appointed Dan Haxby as Head of Realisations within RBS’s Strategic Investment Group (SIG). SIG is responsible for all aspects of the equity positions that the bank takes through debt for equity swaps and new money investments in restructuring situations. It sits within RBS’s Global Restructuring Group.
Haxby used to work as the Head of Financial Sponsors Coverage at JP Morgan, before moving to the same role at RBS’s Global Banking and Markets business (GBM). In the new role Haxby will work the lifecycle of a SIG investment from the identification of equity opportunities through to their
ARGYLL Investment Services Limited has promoted senior manager Hazel Kelling to the role of Operations Director as the company looks to further expand its services and client base.
Kelling has been a member of Argyll’s senior management team for six years and is involved with a number of major projects, including the development of the company’s Niche Discretionary Fund Management service, which was recently launched across the Channel Islands, UK and Europe, offering independent financial advisors a cost-efficient investment option in-line with the proposed RDR legislation in the UK.
‘Hazel’s promotion is a reflection of the level of experience she
The Depository Trust & Clearing Corporation (DTCC) has issued a statement in response to the decision by Standard & Poor’s (S&P) to downgrade S&P’s AAA rating on three of DTCC’s clearing subsidiaries, National Securities Clearing Corporation (NSCC), The Depository Trust Company (DTC) and Fixed Income Clearing Corporation (FICC).
DTCC remains confident in its effectiveness as the leading infrastructure and central counterparty for the cash equities and fixed income markets. The fundamental strengths of our company are the same today as they were prior to this recent revision in the S&P AAA ratings we’ve consistently earned for these three clearing subsidiaries.
Mesirow Financial International UK Limited, has hired Sophia Damianou as a vice president and member of its global client relationship team. In this newly established position, Damianou will work closely with new and existing clients of the firm’s affiliated institutional multi-manager hedge fund unit, Mesirow Advanced Strategies, Inc. Her focus will be on building relationships with clients in northern Europe.
Most recently, Damianou served on the capital services team for Credit Suisse in London. Prior to that, she was an investment analyst for Southeastern Europe Management Co. in Athens, Greece. She earned her MBA from Columbia Business School, her M.S.
