Wednesday, 1 October 2014
Last updated 23 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.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...