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US federal financial regulators are lagging in their oversight of hedge funds’ use of AI for trading decisions, posing a serious threat to market stability, according to a report by FedScoop.Â
Multinational investment bank Morgan Stanley has appointed Sid Chaturvedi, formerly a Dubai-based senior portfolio manager at $67bn hedge fund giant Millennium Management, as an executive director in London, according to a report by Financial News.Â
Nordics-focused hedge fund Sissener Canopus has divested its holdings in Golden Ocean Group, an Oslo-listed shipping company backed by Norwegian-Cypriot shipping magnate John Fredriksen, according to a report by TradeWinds.Â
Southwest Airlines CEO Robert Jordan has said that he will not resign despite Paul Singer’s activist hedge fund Elliott Investment Management calling for leadership and board changes earlier this week, according to a report by the Associated Press.Â
Dmitry Balyasny’s hedge fund, Balyasny Asset Management, has reduced its headcount by nearly 18% to 219 employees by the end of 2023, down from 266 in the previous year, according to a report by Financial News citing the firm’s latest financial reports.Â
Aaron Weiner, formerly of Coatue Management, is set to establish his own hedge fund with substantial backing from Izzy Englander’s Millennium Management, according to a report by Bloomberg.Â
Bobby Jain’s new hedge fund firm, Jain Global, is poised to employ over 30 staff members in Asia by its July launch, leveraging a management model that will give local leaders key responsibilities like hiring and risk management, according to a report by Bloomberg.Â
Frank Mercado, the owner of hedge fund firm Tiger-Wolf Capital, has admitted to wire fraud, confessing to defrauding over 100 victims out of more than $700,000 through a fraudulent investment scheme, according to a report by Business North Carolina.Â
Derivatives and securities exchange network Cboe Global Markets is expanding its collaboration with global index provider FTSE Russell by developing new derivatives products, potentially beginning with cash-settled index options tied to the FTSE Bitcoin Index and the FTSE Ethereum Index.
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, has appointed five new members to its board of directors at the CLS Annual General Meeting held on 4 June 2024.
