Monday, 20 October 2014
Last updated 2 days ago
Jun 21 2011 | 3:19pm ET
You can’t say Elliott Management Corporation doesn’t plan ahead—the $17.1 billion hedge fund firm has put in place a board of directors to take over should current head Paul Singer stop managing the company through “death, incapacity, or otherwise.”
AR Magazine, citing a letter to investors dated Monday, June 20, says the Elliott board will have four members: Jonathan Pollock, Elliott co-chief investment officer; Brian Miller, chief trading officer; Gordon Singer, head of global event arbitrage strategies (and Paul Singer’s son); and Myron Kaplan, long-time Elliott legal counsel and a founding partner of Kleinberg, Kaplan, Wolff & Cohen.
In the letter, Singer (père) was quick to reassure investors that the introduction of the board does not signal any intention on his part to “diminish” the “time and attention” he devotes to the business.
The new board is the latest effort by the firm to give managers greater oversight responsibilities. In October of last year, Singer made Pollack, Miller and Gordon Singer equity partners and promoted Pollack to the office he currently holds, that of co-chief investment officer.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...