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Envestnet Inc has added three new directors to its board following pressure from activist investment firm Impactive Capital, which has been pushing for the fintech to prove its performance by cutting costs, according to a report by Reuters.
The new board members are banking executive Barbara Turner, veteran board member Wendy Lane, and Lauren Taylor Wolfe, the co-founder of Impactive Capital, who have all joined the board in the last few days.
Envestnet, which provides technology and automation software for financial advisors and banks, has also said it will suggest that all of its directors stand for election every year,
Citadel, the hedge fund firm founded by Ken Griffin, is to make a ‘comeback’ in Japan with plans to reopen its Tokyo office later this year, almost 15 years after closing operations there during the global financial crisis, according to a report by the Financial Times.
WorldQuant, the Connecticut-headquartered hedge fund firm founded in 2007 by ex-video game programmer-turned portfolio manager Igor Tulchinsky, has appointed James Henderson as deputy general manager based in London, according to a report by Reuters.
Effissimo Capital Management, a Singapore-based activist hedge fund, could be in line to make a profit of around ¥100 billion ($768 million) from Toshiba Corp’s buyout by a consortium led by domestic private equity firm Japan Industrial Partners, according to a report by Bloomberg.
Toshiba has accepted a ¥4,620 a share offer from the consortium to acquire the business, which means that the value of Effissimo’s stake has roughly doubled since it disclosed its holding back in 2017.
Exactly how much Effissimo, Toshiba’s largest shareholder, paid for its 9.9% stake, isn’t known, but according to Bloomberg News analysis of the
New York–based hedge fund Marathon Asset Management made a profit of around $30 million in just a few days, after a well-timed bet on Credit Suisse Group AG bonds paid off, according to a report by Bloomberg.
An anonymous Bloomberg source revealed that Marathon accumulated around $150 million worth of bonds in Credit Suisse’s senior operating company (OpCo) at discount rate, days before the bank made its offer to buy back the debt at an inflated price.
The stricken bank was subsequently acquired by rival UBS in a Swiss government-backed rescue deal, but the bonds bought by Marathon were tendered
Nickel Digital Asset Management, the London-based digital assets hedge fund manager founded by Bankers Trust, Goldman Sachs and JPMorgan alumni, is calling for more crypto exchanges to integrate with Off Exchange Settlement solutions, which it says will dramatically reduce counterparty risk, protecting investor capital against FTX-like events.
RBC BlueBay Asset Management, a provider of global investment management services and solutions to institutional and wholesale investors through separate accounts, pooled funds, hedge funds, and specialty investment strategies, has appointed Monica Yan as Consultant Relations Director, UK & Ireland.
It has been a challenging time to raise capital, and emerging managers have needed to pivot from traditional marketing techniques to find new ways to be successful. New managers’ track records and the way they communicate about their portfolios are taking on a greater level of importance.
The Hedge Fund Leadership Summit is an invite-only gathering for hedge fund operational leaders, that will explore the current trends, future drivers, and mission-critical tools pushing positive business growth.
