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An academic report examining the fiscal challenges facing the Cayman Islands contains heavy criticism of the way the UK is addressing its own particular problems.
The report, compiled by Richard Teather, a senior lecturer in taxation, points out that the Cayman Islands Government has acknowledged that the growth in public sector jobs and the contingent pension liability cannot be sustained and is now looking at various options including trimming jobs and amendment to health and medical benefits.
The Teather Report unequivocally rules out the introduction of direct taxation without first ensuring public sector expenditure is balanced in relation to an
A leading membership organisation has changed the way that it presents hedge fund gearing data.
An expert has predicted that capital gains tax could be raised to 25 per cent in Alistair Darling’s next Budget.
Heritage Capital, the merchant banking division of family-owned Banque Heritage, has appointed Niels Nooy as managing director and head of emerging markets trading for Europe, Middle East, Africa and Latin America, plus three directors in London.
Nooy, who joined in January, reports directly to Henry Nevstad, head of markets and execution at Heritage Capital.
Nooy joined Heritage Capital at the same time as new directors Veronika Orekhovskaia, Michael Rimmell and Severine Carayon.
The appointments are the latest Heritage Capital has made to its trading and sales team in London and form part of its global expansion plan.
Joe Dryer (pictured),
Salus Alpha, a provider of daily liquid Ucits alternative investments, has expanded into Singapore through its affiliate Salus Alpha Financial Services.
“Singapore expands our global footprint and provides us with on-the-ground presence in one of the region’s most important financial markets," says Oliver Prock chief executive of Salus Alpha Capital.
Singapore is a leading financial centre serving the domestic economy as well as neighbouring economies in Southeast Asia.
Singapore also has seen a healthy growth in the alternative investment management industry in recent years. The number of hedge fund managers in Singapore had seen a strong increase by more
HedgeMark International, a provider of hedge fund managed account solutions, has appointed Anthony V. Lombardi as head of managed account operations, prime brokerage and trading relationships.
Lombardi brings more than a decade of experience in managed accounts operations and risk management to the firm.
Immediately prior to joining HedgeMark, he was chief operating officer at Switzerland-based Rose & Sky Investments.
Before that, he spent five years with Man Investments as prime brokerage relationship manager – managed accounts platform. In his capacity with Man, Lombardi was responsible for a broad range of functions including due diligence, risk management across prime brokerage,
The Fortress International Fund has completed its expansion and officially launched the Luxembourg Fortress International Capital & Partners SCS Fund.
The Luxembourg-based Fortress fund is an open-ended investment vehicle that participates in the US secondary market for life insurance under a managed buy and hold strategy.
"Our management team made a commitment to provide our investors with value in every facet of our life settlement operations," says Peter Dodd, Fortress fund director. "We are confident our size and unique offering in Luxembourg and high quality service model will provide opportunities for this fund to grow and prosper."
Investors in the
GreySpark Partners, a London-based business, management and technology consultancy specialising in capital markets, has officially launched.
The launch comes in response to increased demand from financial institutions for expert and pragmatic consultancy that covers the whole project lifecycle, from strategy and management to implementation and operations.
GreySpark officially launches with a 20 person strong team, including its four founding partners, who between them bring over 35 years’ industry experience to the market.
Frederic Ponzo, managing partner, will focus on providing leadership, direction and vision to the company. Prior to founding GreySpark, Ponzo joined the international consultancy Net2S in
The Managed Funds Association has formed an alliance with the New York Hedge Fund Roundtable, a membership community of over 1,000 hedge fund professionals, investors and professional service firms.
“Our affiliation with the New York Hedge Fund Roundtable allows us to exchange information and ideas with professionals located at one of the most important hubs within our industry,” says Richard H. Baker (pictured), MFA president and chief executive. “We look forward to participating in collaborative, educational discussions on industry best practices, regulatory policy, and a wide range of other issues.”
The affiliation furthers MFA’s efforts to align members of the
Peak Ridge Capital, an alternative asset management company, has appointed Gary King, former chief executive of the Dubai Mercantile Exchange, as senior strategic adviser.
He will assist in the firm’s continuing expansion of its alternative investments platform and its introduction to the Mena region.
Peak Ridge Capital’s asset management platform includes the Peak Ridge AgTech Fund, a private equity fund focusing on financing innovation in agriculture, clean technologies and biofuels; and the Peak Ridge Energy Fund, a hedge fund seeking investment growth opportunities through the trading of a diversified energy portfolio.
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