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James Beeston, a former managing director and co-head of EMEA prime brokerage at Morgan Stanley who joined London-based hedge fund Marble Bar in March 2023, has quit the firm after just three months, according to a report by eFinancial Careers.
Activist investor Hestia Capital Management has had four of its five director candidates elected to the board Pitney Bowes following a campaign criticising the century-old shipping-services company’s capital allocation and lagging share price, according to a report by Reuters.
As well as the four candidates proposed by Hestia, which is the company’s third largest shareholder with a 9.1% stake, Pitney Bowes said a preliminary vote count showed that shareholders had also re-elected three other directors, including current chief executive Marc Lautenbach, and selected two directors nominated by the company.
Hestia has been agitating for Pitney Bowes to explore alternative strategies
The Managed Funds Association has submitted a comment letter to the US Securities and Exchange Commission calling for the proposed custody rule to be withdrawn and only re-proposed after addressing fundamental flaws with the proposal and conducting a thorough cost-benefit analysis.
Digital asset investment products saw outflows totalling $54 million last week, representing the third consecutive week of negative sentiment for the asset class, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.
Bitcoin saw $32 million of outflows last week, despite sentiment in the US turning markedly positive, with inflows of $18 million, and short-bitcoin seeing the largest weekly outflows on record of $23 million.
Blockchain equities also endured weaker sentiment last week, seeing outflows totalling $7.3 million.
Emerging alternative investment managers are prioritising the acquisition of top talent, and investments in third-party data providers and technology platforms as they look to grow their businesses in 2023, according to a new report by alternative investments fintech Dynamo Software.
Hedgeweek exclusive: Gary Collier (pictured), the CTO of Man Group’s front office tech platform, Man Alpha Technology, discusses the evolving challenge of extracting value from data, and the technology Man Group has created to help.
Hedge funds posted gains in April as managers navigated the banking turmoil and volatility that accelerated throughout the month and extended into May with the closure and distressed acquisition of First Republic Bank, according to HFR.
Activist hedge fund Covalis Capital has won the backing of Norway’s sovereign wealth fund (SWF) for Marco Mazzucchelli, its candidate for chairman of Italian utility Enel, as opposition to the proposed appointment of Paoloa Scaroni grows, according to a report by Reuters.
Moritz Seibert and Moritz Heiden, the duo behind Twoquants.com, a website launched in 2018 to write about quantitative trading strategies, have launched Takahē Capital, a hedge fund that provides investors with access to their quantitative trading strategies, according to a report by AlphaWeek.
Oasis Management Company, the Hong Kong-based activist hedge fund seeking a leadership overhaul at Wagamama owner The Restaurant Group, has secured the backing of an influential shareholder advisory group in its protest against chief executive Andy Hornby’s pay deal.
