Thursday, 2 April 2015
Last updated 47 min ago
May 16 2007 | 11:04am ET
Another top Wall Streeter is striking out on his own, as Merrill Lynch’s second highest-paid executive is leaving the firm to found a hedge fund.
Dow Kim, co-president of global markets and investment banking, will leave the firm by the end of the year to set up a multi-strategy shop. Merrill, which characterized the split as amicable in a statement, notes that Kim will remain an adviser during the transition and that the firm will invest in Kim’s new venture.
Kim, who made $37 million last year, second only to CEO Stanley O’Neal, said that he had “as a personal goal founding and running” his own firm, and that “I don’t think there ever will be a more opportune moment than now for me to explore how best to do so.”
He declined to comment further about his new venture.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…