Thursday, 2 October 2014
Last updated 1 hour ago
Sep 15 2010 | 2:52am ET
JPMorgan Chase CEO Jamie Dimon has announced the firm’s plans to comply with the newly-enacted Volcker rule, and they do not include divesting the firm’s enormous Highbridge Capital Management hedge fund or its main private equity business.
Dimon said the new U.S. banking regulations will not force it to sell Highbridge, so the unit “will stay in the current form it is.” Highbridge manages “client-only” hedge funds, so “the seed restriction on capital is fine with us,” Dimon said during an investor presentation yesterday, MarketWatch reports.
Nor does the firm plan to sell its One Equity Partners private equity unit, which has $8 billion in assets under management. The firm will shutter some of its other private equity business to comply with the new law.
JPMorgan will also move its “best” proprietary traders to its asset management unit, as the Volcker rule does bar banks from trading their own capital. But Dimon said that the closure of the prop. desks would not have a material impact on the firm.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...