Tuesday, 23 September 2014
Last updated 13 hours ago
Aug 15 2011 | 12:54pm ET
Bonuses are expected to tumble precipitously on Wall Street this year—but not for the alternative investments industry or the bankers who serve them.
Compensation consultant Johnson Associates predicted that hedge fund and private equity employees can expect as much as 5% more in their year-end bonus check than last year. Prime brokerage employees can expect the same.
By contrast, fixed-income traders may get as much as 30% less, a stark reversal from Johnson's May prediction, which foresaw increases of between 10% and 15%. Equity traders will face cuts of as much as 15%, the new forecast says.
Johnson blamed the "lack of economic recovery" and "ongoing uncertainty in world markets."
Hedge fund and private equity firm employees, however, won't be alone in having more money to spend this holiday season: Their fellow money-managers will, as well. Bond fund managers may get as much as 10% more while stock managers can expect up to 5% more. On the investment-banking side, mergers and acquisition specialists and underwriters may get 5% to 10% more this year.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.