Wednesday, 20 August 2014
Last updated 1 min ago
Feb 2 2011 | 10:14am ET
With at least one hire, JPMorgan Chase is bucking the trend—accelerated by the U.S. financial reform—of proprietary traders leaving banks to go to hedge funds.
Instead, JPMorgan has hired a proprietary trader who left the firm five years ago. Stefan Tsonev joined Dillon Read Capital Management, the UBS hedge fund which crashed and burned three years ago. He then moved on to Millennium Capital Partners, which he left after a year in the fall, Financial News reports.
Now, he's back at JPMorgan, once again as a prop. trader—for now. Tsonev, who has been working at JPMorgan since Jan. 17, according to regulatory filings, was named a managing director on the firm's emerging market prop. desk. But FN reports that JPMorgan plans to transfer him to its asset management business as it continues to wind down its prop. trading operations.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note