Tuesday, 23 September 2014
Last updated 6 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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.