Saturday, 27 December 2014
Last updated 2 days ago
Apr 8 2011 | 3:47am ET
As institutional investors begin to return to hedge funds in full force, Highbridge Capital Management promoted its chief operating officer to president.
Todd Builione takes the reins as Highbridge, which is owned by JPMorgan Chase and which manages $25 billion, seeks to attract more institutional investors. "People have been talking since the crisis about the next wave of institutional money coming to hedge funds but it hadn't actually happened. Now, it's happening," he told the Financial Times.
"Clients expect institutional-quality business management, governance frameworks with checks and balances, a legal and compliance infrastructure, in addition to top-tier performance," Builione explained. But he made clear that Highbridge wouldn't take institutionalization too far.
"You cannot turn Highbridge into a big process-oriented investment bank," he told the FT. "That's a recipe for disaster."
Builione, Highbridge's second-in-command after co-founder Glenn Dubin, oversees the firm's day-to-day operations. Prior to joining the hedge fund, he was a member of Goldman Sachs' financial institutions group.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.