Monday, 20 October 2014
Last updated 5 hours ago
Feb 17 2011 | 5:21am ET
Former JPMorgan Chase executive Bill Winters has been bitten by the hedge fund bug.
Winters, JPMorgan CEO Jamie Dimon’s former deputy, will launch a new hedge fund alongside two of Europe’s most prominent investors, Jacob Rothschild and Johann Rupert. Together, Winters, Rothschild’s RIT Capital and Rupert’s Reinet fund will seed the new firm with tens of millions of pounds, the Financial Times reports, allowing it to set up its infrastructure and possibly make a small acquisition.
The still-unnamed venture eventually hopes to manage billions of pounds in assets; Winters is said to be pitching the fund to family offices and sovereign wealth funds, although it is unclear if he has won any commitments yet.
At least initially, the firm will be an advisory business. It requires U.K. Financial Services Authority approval to move into money management, a process that takes up to six months and one that Winters has yet to initiate.
Winters will own half of the new firm, with RIT and Reinet splitting the other half. He had been rumored to be mulling a number of top European investment banking jobs, but has reportedly told friends he does not want to return to a bank.
Winters also currently sits on the U.K.’s Commission on Banking, which is considering the future structure of the country’s banking industry. The five-member commission is set to complete its work in September.
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 ...