Wednesday, 1 October 2014
Last updated 10 hours ago
Mar 14 2011 | 12:27pm ET
Credit Suisse is to hand over the administration of its Guernsey-based funds of hedge funds to a third-party firm.
The move will occur over the next six months and affect more than 40 employees of the bank's Guernsey fund administration business, which employs about 300 people, HedgeWeek reports. It is unclear if the departing employees will join the new administrator, which Credit Suisse declined to identify other than to say it is "one of the biggest fund of funds administrators globally."
"The outsourcing of our fund of funds administration business in Guernsey involves devolving a non-core administrative function, which is in line with our strategy to provide a core, client-oriented service focusing on offering strong investment performance to our asset management clients," a spokeswoman from Credit Suisse said.
The spokeswoman added that the move had nothing to do with Credit Suisse' impending acquisition of hedge fund administrator Fortis Prime Fund Solutions.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...