Saturday, 28 March 2015
Last updated 14 hours ago
Jan 14 2011 | 1:20pm ET
Jack DiMaio's return to the sellside has come to an end after just a year-and-a-half.
DiMaio, co-founder of hedge fund DiMaio Ahmad Capital, is leaving Morgan Stanley after just a year-and-a-half as global head of interest rate, credit and currency trading as part of a major shakeup at the firm. He'll be replaced by Ken deRegt, the chief risk officer, who will seek to do what DiMaio could not: speed up the recovery of Morgan Stanley's fixed-income business.
It is not clear what DiMaio's plans are; Morgan Stanley said simply that he has decided to return to the buyside. DiMaio Ahmad is still in business—Morgan Stanley took a stake in the firm when it hired DiMaio, who remained on its advisory board.
"We wish him well and look forward to working with him as a client in the future," Morgan Stanley CEO James Gorman said.
DiMaio joined Morgan Stanley in June 2009, recruited by former CEO John Mack. DiMaio worked for Mack at Credit Suisse when he was head of fixed-income and Mack was CEO.
Gorman also named asset management chief Gregory Fleming head of retail brokerage operations. Fleming with remain head Morgan Stanley Investment Management.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…