Arbitrators Rule Against Ex-Hedge Fund Manager Refvik In Morgan Stanley Dispute

Nov 15 2010 | 4:19am ET

Hedge fund manager Olav Refvik has lost his wrongful termination claim against former employer Morgan Stanley.

Refvik, who founded Arrowhawk Capital Partners after leaving the bank in 2008, alleged that Morgan Stanley had breached an implied contract when it handed his responsibilities over to a colleague that year. He also filed claims of unjust enrichment and improper forfeiture of vested stock and options against the firm, seeking $30 million.

But a Financial Industry Regulatory Authority arbitration panel sided with Morgan Stanley, giving Refvik nothing. The three-member panel did not explain its rationale, although one of the three arbitrators dissented, saying he would have awarded Refvik “some relief” for the undelivered stock and options.

In September, Refvik joined Noble Group as head of oil and oil products trading. He remains a strategic adviser at Darien, Conn.-based Arrowhawk.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR