Author Archives: Editor
Hedge Fund Compensation Up 16% In 2013, Bonuses Up 30%
New York (HedgeCo.Net) – Hedgies received increases in both base salary and year-end bonuses according to Benchmark Compensation’s 2014 Hedge Fund Compensation Report. The average cash compensation was up again in 2013 and came in at $330,000. Base salary played a […]
Hedge-Fund Founder Robert W. Wilson Leaves Art to Whitney
Bloomberg – Robert W. Wilson, the hedge-fund manager who lept to his death last month from his New York residence, gave his art collection to the Whitney Museum of American Art in Manhattan. Wilson, who served on the museum’s board, didn’t […]
Hedge funds wary of taxes despite new law
BD Live – The Taxation Laws Amendment Act will limit the risk of double taxation for hedge funds, but industry experts are concerned there is a risk that trading profits could still be taxed within funds. An unprotected hedge fund […]
Morgan Stanley Claws Back 100% Compensation From Crooked Hedge Fund Manager
Forbes – In a little publicized decision just before Christmas, the U.S District Court, Southern District, ruled that a former hedge fund bigwig, Joseph F.”Chip” Skowron III, must forfeit $31 million compensation earned from the firm between 2007 and 2010. […]
SEC Obtains Settlements in Penny Stock “Shell Packaging” Case
The Securities and Exchange Commission today announced nearly $300,000 in settlements against a Virginia-based “shell packaging” company and its CEO who were charged with facilitating a penny stock scheme as well as a Bronx, N.Y.-based stock promoter who received proceeds […]
Hedge Fund Regulation: Banks Get CDO Exception To Volcker Rule
New York (HedgeCo.Net) – The SEC and other federal regulars yesterday approved a rule allowing banking entities to hold on to certain CDOs. Reuters reports that this would be the first “tweak” to the new legislation known as the “Volcker rule,” […]
Citi’s Ex-Hedge Fund Chief Loses $1 Million in Deep-Sea Treasure Hunt
Bloomberg – The deal started with a treasure map, supposedly bought from a drifter at a saloon in Key West for $500. What could possibly go wrong? For Dean Barr, who ran Citigroup’s hedge fund unit until 2007, investing in the X-marks-the-spot Emerald […]
Ex-Hedge Fund Boss Who Fled U.S. Gets 15 Years for Fraud
Bloomberg – Aleksander Efrosman, the former hedge-fund manager who fled the U.S. after swindling his clients out of $5 million and gambling away most of it at a casino, was sentenced to more than 15 years in prison. Efrosman, 51, […]
Viking Raid: Swashbuckling Shipping Adventures and… Hedge Funds?
New York (HedgeCo.Net) – Marine Money International has released “Viking Raid” Written by Robert Fairchild. The book is a Sequel to “The Shipping Man” by Matthew McCleery, President of Marine Money International and Managing Director of Blue Sea Capital. Both […]
Goldman Sachs Says 4Q Profit Falls 21 Percent
ABC – Goldman Sachs says its fourth-quarter profit dropped 21 percent as revenue from mortgages and trading in bonds and other securities weakened. Goldman earned $2.25 billion in the October-December quarter after paying dividends on preferred shares, down from $2.83 […]
Charlotte-based SPX reaches agreement with hedge fund on board seats
Charlotte-based SPX Corp., an industrial-equipment manufacturer, said it reached an agreement with Relational Investors LLC for the activist investor to nominate up to two board directors. Relational can nominate David Batchelder, who co-founded the fund with Ralph Whitworth, to theSPX […]
After prostitution arrest, $4 billion hedge fund to become family office
Biz Journals – Roughly five months after the arrest of CEO Jim Bisenius in a prostitution sting, Common Sense Investment Management is closing its doors and becoming a family office, the Business Journal has learned. As a family office, it […]