Managing the Desk News

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  • Is Your Bloomberg Terminal Spying On You?
    By Phil Albinus | May 14, 2013
    After Goldman Sachs discovered that Bloomberg journos were keeping track of their viewing habits over their Bloomberg terminals, traders have some decisions to make about the company that provides their market data, trading tools, IM and more.
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  • Credit Suisse Sues Former VP Over Secrets
    By Phil Albinus | May 10, 2013
    She took a job with rival Goldman Sachs and allegedly e-mailed customer files to herself. And now CS wants to stop her. Can they?
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  • Australia's Economy Hitting Turbulence
    By Alexander Fleiss | May 09, 2013
    A real estate boom faces some headwinds as commodity prices fall and mining cuts back, but across the globe sunnier skies for Florida's economic forecast could help the Aussie economy.
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  • Joseph Cangemi Appointed CEO of ConvergEx's UK Broker Dealer
    By Ivy Schmerken | April 23, 2013
    Known for his knowledge of U.S. equity market structure, Cangemi will relocate to London to head ConvergEx’s European operations, while continuing as co-head of electronic equity trading and sales.
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  • Wells Fargo Slashes Money Manager Programs, Angers Brokers
    By Phil Albinus | April 19, 2013
    Meanwhile, the number of investors pulling money out of hedge funds levelled off last month.
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  • Paulson Eyes New Hedge Fund for Tax Exiles
    By Phil Albinus | April 12, 2013
    Wounded by huge losses and some staggering tax bills, Paulson eyes new fund to help other tax victims. Plus, funds attract $11B in February and the SEC seeks a hedge fund budget boost.
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  • Jamie Dimon Scrambles to Keep CEO-Chairman Role
    By Phil Albinus | April 09, 2013
    Do you hear that sound coming from Wall Street? It’s the sound of JPMorgan Chase directors scrambling hard so that Jamie Dimon gets to keep both his CEO and chairman jobs for America’s largest bank.
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  • Corzine Lit Matches for MF Global Meltdown: Report
    By Phil Albinus | April 04, 2013
    Former G man Louis Freeh’s report on the spectacular meltdown of MF Global is out - and Jon Corzine does not get off easy.
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  • Spurred By Bonuses, Hedge Fund Traders Feel Pressure to Break Rules
    By Phil Albinus | April 02, 2013
    A survey reveals the depressing state of a hedge fund trader’s mind: They’ve seen misconduct, would break rules to get ahead and doubt the SEC can do anything to fix the industry.
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  • Closing In On SAC, FBI Arrests Portfolio Manager
    By Phil Albinus | March 29, 2013
    Federal agents arrested the portfolio manager of the largest hedge fund in the country. After a week of buying mansions and Picassos, is SAC Capital founder Steve Cohen next?
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  • Winton Capital’s Hedge Fund Closes Amid No Interest
    By Phil Albinus | March 28, 2013
    One of the world’s largest hedge funds Winton Capital announced that its Henri Capital spinout will close after two years of trading due to a lack of clients.
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  • Wall Street Retreats on Euro-Zone Concerns
    By Chuck Mikolajczak, Reuters | March 27, 2013
    U.S. stocks dipped on Wednesday as soft demand at an Italian debt auction kept concerns about the financial stability of the euro zone at the center of investor focus.
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  • SEC Approves Nasdaq Payback Plan for Botched Facebook IPO
    By Phil Albinus | March 26, 2013
    UBS, Citi and others are not pleased with the $62 million settlement and may still sue.
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  • Hedge Fund Manager Cohen Buys Wynn's Picasso for $155 million -Report
    By Reuters | March 26, 2013
    Hedge fund manager Steven A. Cohen has bought a famous Picasso painting from casino mogul Steve Wynn for a record price, according to a report in the New York Post on Tuesday.

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  • Goldman Sachs, Berkshire Amend Crisis-Era Warrant Deal
    By Ben Berkowitz and Lauren Tara LaCapra, Reuters | March 26, 2013
    Goldman Sachs Group Inc will give Berkshire Hathaway Inc millions of shares in the bank in place of warrants that date to the financial crisis, a deal that saves Berkshire money upfront and reduces dilution risk for Goldman.

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  • Banks Beef Up FX Options Reams as Big Moves Boost Risk, Rewards
    By Nia Williams, Reuters | March 25, 2013
    Banks are strengthening their foreign exchange options desks, investing in people and technology, as companies and hedge funds seek protection or profit from big moves in major currencies.

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  • Credit Suisse CEO Pay Jump to Fuel Banker Bonus Debate
    By Katharina Bart, Reuters | March 22, 2013
    Credit Suisse raised the pay of its chief executive by a third in 2012, a move likely to stoke public and political anger over banker pay after a year in which the Swiss group's profits fell and its shares stalled.

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  • Instinet Announces Asia-Pacific Organizational Change
    By Ivy Schmerken | March 22, 2013
    Shaun Bramham is named head of Instinet's Asia-Pacific business, succeeding Glenn Lesko who is returning to the US.
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  • Buyout Firms Face Squeeze as Investors Go Direct for Deals
    By Tommy Wilkes and Anjuli Davies, Reuters | March 22, 2013
    Tired of the hefty fees charged by private equity firms and wanting more say over what they buy, big investors like pension funds and insurers are taking matters into their own hands.

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  • The Glamorous Personal Assistant and Her Hedge Fund Boss’ Amex Cards
    By Phil Albinus | March 21, 2013
    Nearly one million dollars later, Ukrainian beauty Renata Shamrakova admitted in Manhattan Supreme Court to embezzlement while working as the personal assistant to hedge fund manager Todd Meister.
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  • Minding the Boys: Operational Risk on the Trading Floor
    By Phil Albinus | March 21, 2013
    Bad lads, poor handwriting and preening managers - let's take a look at operational risk on the floor of a London brokerage.
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  • European Shares Recover as Market Eyes Cyprus Compromise
    By Reuters | March 20, 2013
    European shares broke a three-day losing streak on Wednesday as investors bet on policymakers finding a fix for Cyprus bailout problems, although some traders cautioned against buying up equities at current levels.
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  • JPMorgan Exec Drew Says Not to Blame for 'Whale' Losses
    By Reuters | March 15, 2013
    A former top JPMorgan Chase official blamed traders and managers who reported to her for bets that led to $6 billion in losses for the bank, telling lawmakers on Friday that her team changed projected losses and hid important information from her.

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  • E*Trade Shares Drop After Biggest Holder Pulls Out of Stock
    By Reuters | March 14, 2013
    Shares of E*Trade Financial Corp dropped as much as 6.8 percent Thursday morning following news that hedge fund Citadel LLC is dumping its stake in the bank and discount brokerage company.

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  • UBS Chief Executive Paid $9 Mln after Revamp
    By Katharina Bart and Anjuli Davies, Reuters | March 14, 2013
    UBS drew fire on Thursday as it announced it paid CEO Sergio Ermotti almost $9 million in 2012 and welcomed a new investment bank chief with a $26 million package, just as the Swiss bank is in the process of firing 10,000 staff.

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