Tuesday, 23 September 2014
Last updated 12 hours ago
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.