Sunday, 21 September 2014
Last updated 1 day ago
Jun 8 2011 | 10:28am ET
The Man Group has rewarded CEO Peter Clarke's work in progress with a handsome bonus for nine months' effort.
The hedge fund said yesterday that Clarke received a US$1.75 million bonus for the last nine months of last year, the same amount he received for the previous 12 months. Man is changing its fiscal year to match its calendar year, as part of its integration of acquisition GLG Partners.
While Man suffered outflows and a drop in net profits last year, the firm said that Clarke and other executives had made "significant progress" on the five priorities the firm set out last year.
Clark's total compensation package for the 12 months through March 31 was US$2.697 million, or US$1,000 more than he earned in the previous 12 months. His salary of US$925,000 did not change—and will not change this year, and he received a US$750,000 cash bonus and US$1 million in deferred pay.
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.