Monday, 20 October 2014
Last updated 15 min ago
Oct 19 2010 | 9:33am ET
In New York, one firm's demise means another's new digs. Asset management firm Forefront Advisory has signed a 25,030-square foot 'sub' sublease with the former Galleon Group for the entire thirty-fourth floor at 590 Madison Avenue, more than doubling the size of its New York headquarters.
The firm, which had been located 13 blocks south on Madison Ave., says the new space can will allow it to go forward with its growth plans, which include having 25 portfolio managers on board by year-end.
"This transaction enables Forefront to move into high-end, turnkey space that can accommodate the group’s current size, as well as its near and long-term growth,” shared David Dusek, senior managing director of international commercial real estate services firm Studley. “Of paramount importance to Forefront was the ability to capitalize on the existing infrastructure left behind by Galleon – saving our client millions of dollars in up-front capital costs.”
David Wasitowsk, a managing partner at Forefront, added, “We create communities of bright portfolio managers and a culture that promotes the sharing of ideas and research within a professional trading environment. We also provide risk management, technology, compliance and operational support. If we don’t have enough space, our community and culture becomes constrained. The new space offers the physical room to grow and better reflects our image to the marketplace and portfolio managers.”
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...