Friday, 30 January 2015
Last updated 2 hours ago
Aug 6 2010 | 11:20am ET
Morgan Stanley, which is currently working to spin-off its FrontPoint Partners hedge fund, could be mulling a second hedge fund spin-off.
The firm is pondering its options for a proprietary trading desk called Process Driven Trading, The Wall Street Journal reports. The newly-enacted Dodd-Frank financial regulation reform law bars banks from prop. trading.
Among the possibilities are a spin-off of PDT, which is headed by Peter Muller. Morgan Stanley may also move the desk to its investment management business, where it would also begin accepting outside investment.
A decision on PDT is expected within the next few months, the Journal reports. The desk has earned Morgan Stanley billions of dollars since its creation in 1993.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…