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UMB Fund Services has poached Timothy Bonin from BMO Global Asset Management to become the company’s new director of fund operations, according to a report by Asset Servicing Times.
Bonin, who served as vice president, chief financial officer and treasurer of BMO Funds for more than 16 years, has over 25 years’ experience in all in financial services, with prevision roles covering the investment advisory, open-end mutual fund, closed-end mutual fund, exchange-traded funds, and hedge fund industries.
Bonin also held the role of financial services senior manager at PwC from 1993 to 2006.
Akin Gump has appointed William V de Cordova as senior regulatory counsel based in the firm’s office in New York. De Cordova advises hedge and private equity fund managers, registered investment advisers, commodity pool operators, trading advisors, broker-dealers and others on regulatory, compliance and operational matters.
Ireland is now the most shorted market in Europe at 46.29%, followed by France with 11.65% and the United Kingdom with 10.78%, according to latest monthly pan-European short position data from SEI Novus.
TCI Fund Management wants Google parent Alphabet to reduce costs by cutting its headcount in a bid to adjust to slower growth according to a report by Reuters. The activist investor also wants the company to cut losses at its self-driving unit Waymo.
Cederberg Capital, a hedge fund focused on investments in Chinese stocks, has reduced its investor fees following continued poor returns due to China’s reluctance to lift strict Covid restrictions, according to a report by Today Online.
The report cites a letter to investors from hedge fund manager Dawid Krige informing them of a 25 basis point reduction in fees “given the difficulty our clients have endured over the past 21 months.” From 1 January, 202, fees for the firm’s China Class A and Class B vehicles will now be 1.25% and 1.0% cent respectively.
Cederberg Capital, which has around $1
Rokos Capital Management is the latest big macro hedge fund to expand into commodities with the appointment of Luke Sadrian, a former portfolio manager at Moore Capital Management, as an investment officer, according to a report by Bloomberg.
Ikigai Asset Management, a California-based crypto hedge fund established by Travis Kling, has only managed to withdraw “very little” of the “large majority” of the firm’s assets from bankrupt FTX, according to a report by u.today.
Kling, a former portfolio manager at Steven Cohen’s hedge fund Point72, announced on Twitter that the fund is now “stuck alongside everyone else” following the collapse of Sam Bankman-Fried’s digital assets exchange.
Kling has accepted full responsibility for the loss of assets, tweeting on Monday that “I have publicly endorsed FTX many times and I am truly sorry for that. I was
International multi-asset trading platform Vantage has launched Vantage Connect, a liquidity solution for institutions and corporates in the UK in response to growing demand among hedge funds, family offices, banks, brokers, money managers and asset managers for bespoke trading solutions.
EuroCCP, a pan-European clearing house and subsidiary of Cboe Global Markets, Inc, has rebranded as Cboe Clear Europe with immediate effect. Cboe acquired EuroCCP on 1 July 2020.
Under Cboe’s ownership, Cboe Clear Europe has enhanced its position as a pan-European cash equities clearing house, by expanding the number of venues it provides clearing services to from 37 to 47, which provides it with access to approximately 95 per cent of all European equity trades.
In addition to its leading position clearing for venues that allow interoperable clearing, it has also seen strong growth in preferred clearing, which is used
Backstop Solutions Group, a cloud-based productivity suite for the institutional investment community, has appointed Tom Griffiths as the firm’s first Chief Revenue Officer.
In this role, Griffiths will be responsible for leading the firm’s global client-facing teams as they initiate their next phase of growth.
Griffiths previously served as Global Head of Sales at Elliptic, a specialist in cryptoasset risk and compliance solutions. Prior to Elliptic, he spent 21 years at FactSet, a leading provider of integrated financial information and analytical applications. Over his tenure, he held several senior leadership positions, most recently as SVP of the Asia Pacific business,
