News

Former Man Group CEO Stanley Fink will step down as co-treasurer of Britain’s Conservative Party following this year’s election, one the Tories are widely expected to win.

The first settlements won by court-appointed receiver Burton Wiand have boosted the pool of money available to victims of the alleged scam, which prosecutors say cost investors $168 million, by more than $1 million.

Mark Werner, who served as president of global macro shop Graham Capital Management for a year and a half after leaving BofA, is now heading Pierpont Securities Holdings.

The founders of BlueBay Asset Management have cashed in some of their stakes in the London-based credit hedge fund shop.

OneWest Bank, itself the former failed lender IndyMac, has agreed to buy the deposits and most of the assets of La Jolla Bank, a California bank with $2.8 billion in deposits.

International law firm Maples and Calder has recently appointed Jon Fowler as the head of its investment funds group in the Cayman Islands.

Odey Asset Management has shuttered and liquidated its Asia hedge fund, the second time in two years that it has closed a fund dedicated to the region and leaving it with no Asia-only hedge funds.

BlackRock, the largest money-manager in the world, will launch an Asian corporate bond fund next month.

Activist hedge fund Harbinger Capital Partners is giving up its seat on The New York Times Co.’s board of directors.

Former Man Group CEO Stanley Fink is taking aim at his old firm with a new systematic hedge fund headed by one of the pioneers of the strategy.

Larry Hite—who helped begin Man’s transformation from sugar-trading firm to hedge fund when he sold half of his Mint Investment Management to Man in 1983—will manage the new ISAM Systematic fund.