News

BTIG, a broker dealer specializing in institutional trading and related brokerage services, has appointed Michael Nethercott as a director in equity sales trading.

Boston-based broker-dealer Gordon & Co. has hired Sunil Sachdev as director of business development.

The second quarter, likely its next-to-last as an independent corporation, was not a good one for GLG Partners.

Add Bank of America to the list of big banks mulling the future of their proprietary trading operations.

French asset manager Carrousel Capital is marking its tenth anniversary with the launch of a quantitative hedge fund.

His employers could hardly have been more eager to settle the fraud case against them, but Fabrice Tourre, the only individual named in the Securities and Exchange Commission lawsuit against Goldman Sachs, appears ready to fight the charges in court.

Hedge funds opened the first half with modest gains, but some of the industry’s biggest players did substantially better.

Citadel Investment Group’s flagship hedge funds roared back into the black in July. Lone Pine Capital added 5.5% on the month and is up 2% on the year, while SAC Capital Advisors’ flagship added 3.7% last month.

Hedge fund gained ground in July, but badly lagged the broader markets, according to a pair of prominent hedge fund indices.

Not only did the recently-passed Dodd-Frank financial regulation reform law leave hedge funds relatively unscathed, it is serving as a major recruitment tool for the industry.

Federal prosecutors are going after $5.1 million in assets owned by a long-time employee of Ponzi schemer extraordinaire Bernard Madoff.