Monday, 20 October 2014
Last updated 3 hours ago
Nov 19 2010 | 6:38am ET
A former Citi Alternative Investments executive is the new head of the Office of Management and Budget.
Jacob Lew was confirmed last night by the U.S. Senate, more than four months after he was nominated to the post by President Barack Obama. Sen. Mary Landrieu (D-La.) had blocked Lew’s confirmation to protest Obama’s ban on offshore oil drilling, which the administration lifted last month.
Lew was chief operating officer at Citi AI from 2006 through 2009. It will be his second stint as director of OMB—he served in the post under former President Bill Clinton from 1998 through 2001. Since President Barack Obama took office, he has served as deputy secretary for management and resources at the State Dept.
“After years of irresponsibility in Washington, we need to make the tough choices to put our country back on a sustainable fiscal path and lay the foundation for long-term job creation and economic growth,” the president said. “I am confident Jack Lew can lead up in these efforts.”
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 ...