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Tourmaline Partners, an outsourced trading solutions firm for hedge funds and other asset managers, has appointed Matt Ney as a managing director and senior equity trader in the the firm’s Connecticut headquarters.
Ney joins Tourmaline Partners with fifteen years of experience at Viking Global Investors, including eleven years of experience trading US equities and specialising in Technology, Media and Telecom (TMT), Industrials and Energy.
For four years he ran Viking’s London office, overseeing all European equity trading.
Ney is the latest in a series of significant hires for Tourmaline with firm having already added key staff in London
The new digital assets hedge fund launched by Brevan Howard Asset Management has come through this year’s cryptocurrency crash relatively unscathed, according to a report by Bloomberg, restricting losses to single figures.
The report cites unnamed sources as revealing the the BH Digital Multi-Strategy Fund is down about 5% YTD, although it is yet to deploy all of the $1 billion it raised for investments.
Cryptocurrency hedge funds tracked by Bloomberg, meanwhile, slumped 43% on average as bitcoin’s roughly-60% decline and the recent collapse of crypto exchange FTX caused turmoil in the digital assets space.
Losses in single figures
Intercontinental Exchange, a global provider of data, technology and market infrastructure, has expanded the ICE Global Network in the Asia Pacific region, with new access centres in Hong Kong, Shanghai and Tokyo.Â
Northern Trust has appointed Steven Reydel as Head of North America Fund Accounting and Michael McMaster as Head of North America Fund Administration. The company says both will play “a pivotal role in supporting ongoing growth in the Global Fund Services (GFS) business”.
With 20 years of fund accounting experience at State Street and Brown Brothers Harriman (BBH), Reydel will be focus on establishing and growing the Northern Trust GFS business in the Boston area. Most recently, he was head of BBH’s Global Fund Accounting operations team and the fund accounting product executive.
Bringing more than 25
Faltering oil prices in the second half of the year have impacted commodity trader Pierre Andurand’s biggest hedge fund, with year to date gains having been pared to around 50% following stellar performance earlier in the year, according to a report by Bloomberg.
A number of hedge funds have increased their short bets against tether, the $66 billion stablecoin that some industry insiders believe is a crypto catastrophe in-waiting, and potentially on a scale that would dwarf the recent demise of Sam Bankman-Fried’s FTX/Alameda Research empire, according to a report by Bloomberg.
The report cites unnamed sources as revealing that Fir Tree Capital Management and Viceroy Research are among the firms betting against tether, in the belief that ongoing turmoil in the crypto market could push tether’s value below its promised parity with the US dollar.
Tether is the world’s third-most traded token,
Hestia Capital Management, one of the largest shareholders in Pitney Bowes, is planning to nominate a “majority slate” of board candidates at the shipping-and-mailing firm’s 2023 annual meeting of shareholders as it looks to oust the company’s current CEO and chairman, according to a report by CTInsider.
The activist hedge fund, which owns a 7.1% stake in the company, revealed in November that it was pushing for a raft of changes at Pitney Bowes, including the possible sale of the underperforming e-commerce division of the business. But now it wants to see President and CEO Marc Lautenbach and board Chairman
Hedge funds have are to come under increased scrutiny from the Financial Conduct Authority, the UK financial markets watchdog following the pension crisis in late September, according to a report by Reuters.
The globalisation of Brazil’s hedge fund sector is providing a boost to several big banks, including Goldman Sachs Group Inc, UBS Group AG and Deutsche Bank AG, as managers look to overseas investments to boost returns, according to a report by Bloomberg.
As Brazil’s hedge funds broaden their ‘outlook’ the bank’s global-markets units are seeing a boost in business by providing liquidity, lending securities and executing simultaneous trades in different regions.
Brazil-based asset management clients have upped their investment in US futures by 10% this year, according to UBS, while the report cites Ricardo Mora, co-head of Latin American the
Hedge fund Davide Leone & Partners has appointed Graham O’Mahony, a long-serving trader at hedge fund-turned-family office Adelphi Capital, as the firm’s new head of trading, according to a report by the Trade.
The report cites a social media update as confirming that O’Mahoney has made the switch to the Saville Rowe-based hedge fund after 13 years at Adelphi. Prior to that, he spent two and a half years at Metage Capital.
In April of this year, the Financial Times reported that Adelphi, one of London’s oldest hedge funds, was planning to covert to a family office following a run
