Saturday, 18 April 2015
Last updated 5 hours ago
Jun 24 2011 | 10:47am ET
Credit Suisse Group is launching a $500 million systematic-trading group to be led by Mika Toikka, the former head of the risk and strategy in the bank’s prop. trading business.
The group will begin with about 20 traders, analysts and other investment employees and trade across liquid markets, including large U.S. stocks and commodity futures, the company said in a statement on Thursday.
“There is great demand for liquid investments with transparency right now,” Toikka, who has been with Credit Suisse for 11 years, told Bloomberg.
The systematic- trading group is based in New York with a presence in Zurich, where the Swiss bank is headquartered. Credit Suisse is in the process of hiring hedge fund managers and former prop. traders from rival institutions to staff the new group.
The initial $500 million includes seed capital from Credit Suisse and money from the bank’s existing quantitative group, according to the statement.
The bank is also assembling an advisory board to oversee the systematic-trading group.
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…