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Ogier Cayman’s litigation team has promoted both Shaun Folpp and Rachael Reynolds to Managing Associates, and Michael Makridakis to Senior Associate. These appointments reflect the contributions of these individuals to Ogier’s litigation practice over the past 18 months.
Ogier Fiduciary Services Cayman Limited meanwhile, has promoted Scott Dakers to Director. In his new role, Dakers will focus on ensuring the highest quality of services targeted to clients in the investment funds sector as well as corporate and commercial.
“These promotions reflect the outstanding contributions these individuals have made in their respective areas of expertise,” says Peter Cockhill, Managing Partner,
In light of recent market rumours, Deutsche Börse AG and NYSE Euronext (NYX) today confirmed that they are engaged in advanced discussions regarding a potential business combination. They cautioned that no agreement has been reached.
They also noted that there cannot be any assurance that an agreement will be reached or, if an agreement is reached, that a transaction will be completed. Any transaction would be subject to the approval of the two companies’ boards, regulatory and shareholder approvals, as well as other customary conditions.
This proposed transaction creates a group that is both a world leader in derivatives
Penson Financial Services (Penson), the London-based clearing unit of Penson Worldwide, is the latest member of SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, JPMorgan and BNP Paribas.
Penson will offer trading firms executing on SmartPool, a solution that should significantly reduce clearing and settlement costs through Penson’s offering of outsourcing and General Clearing Member (GCM) services. Penson’s membership of SmartPool will thus allow a wider range of participants to trade on SmartPool without the need for major infrastructure build.
Lee Hodgkinson (pictured), SmartPool CEO and Head of European Sales & Relationship Management, NYSE Euronext
Singapore Exchange (SGX) has appointed Michael Syn as Senior Vice President and Head of Derivatives, effective 1 March 2011.
In his new role, Syn, who will report to Gan Seow Ann, President of SGX, will lead SGX’s growth in the trading and distribution of derivatives, building on our position as an award-winning derivatives exchange. In 2010, SGX was named the Derivatives Exchange of the Year by Asia Risk.
Syn joins SGX from DBS Asset Management, where he oversaw the regional management of the firm as Chief Operating Officer. He brings with him many years of leadership and business development
Man has launched Man IP 220 GLG Ltd, a product that offers investors access to a combination of Man’s flagship managed futures manager AHL and a broad range of GLG’s discretionary strategies for the first time. The product is the latest addition to Man’s highly successful IP 220 range, the first of which was launched in 1996.
Man IP 220 GLG Ltd invests in both the AHL Diversified Programme and the GLG Global Opportunity Portfolio, a global multi-strategy portfolio invested across a broad range of GLG’s discretionary strategies. This blend of GLG and AHL brings together two investment managers with
The Chartered Alternative Investment Analyst (CAIA) Association, the sponsoring body of the only globally recognised designation for alternative investment expertise, has appointed Andrew Baker – CEO of the Alternative Investment Management Association (AIMA) – to its board of directors.
The CAIA Association also announced the election of board member Thomas Schneeweis as the new board chair. Schneeweis is the Michael and Cheryl Philipp Professor of Finance at the Isenberg School of Management at the University of Massachusetts in Amherst, Massachusetts, and founding Director of the Center for International Securities and Derivatives Markets (CISDM) at the Isenberg School. He fills the
Cayman Finance Chairman Anthony Travers, OBE has stepped down from his post after two years in office.
According to Cayman Finance, Travers want to spend more time attending to his other business ventures and with his family. During this transitional period, the remaining board members will share directional responsibilities, and an interim Chairman is expected to be announced imminently. Further announcements will be made in due course.
“I was asked to take on the role at a time when our public relations were at a low ebb," says Travers. "At the time the UK and US Governments were extremely hostile to the Cayman
The Hennessee Hedge Fund Index advanced 0.65% in January according to the latex figures released by the hedge fund adviser. In comparison the S&P 500 advanced 2.26%, the Dow Jones Industrial Average increased 2.72%, and the NASDAQ Composite Index climbed 1.78%.
Bonds also advanced, as the Barclays Aggregate Bond Index increased 0.12% and the Barclays High Yield Credit Bond Index advanced 2.21%.
“Hedge funds had a decent start to the year as the environment for stock picking improved. Some managers struggled to produce profits as short portfolios detracted from performance,” says Charles Gradante, Co-Founder of Hennessee Group.
The Lyxor Hedge Fund Index remained flat through January 2011. The top performing strategies over the month were Lyxor Merger Arbitrage Index (1.37%), Lyxor L/S Equity Long Bias (1.09%), and Lyxor Convertible Bonds & Volatility Arbitrage (1.03%).
The ‘Lyxor Hedge Indices’ are investable, asset-weighted hedge fund indices. They are based on Lyxor’s hedge fund platform that covers all the major hedge fund strategies and benefits from a high level of transparency and risk control, while ensuring weekly liquidity.
Advent Software’s Tamale RMS research management solution (RMS) – part of the firm’s Advent suite – continues to expand its leadership across a diverse range of market segments and geographies.
In 2010, Advent added new Tamale RMS clients globally and across numerous market segments, including asset management firms, wealth management firms, pensions, foundations, endowments, sovereign wealth funds, hedge funds, fund-of-funds and family offices. In addition to growing its hedge fund client base substantially throughout the year, Tamale’s client base among asset managers, wealth managers, institutional investors and multi-manager funds had increased from 10% to 45% since Advent’s acquisition of Tamale in
