Monday, 29 December 2014
Last updated 1 hour ago
Sep 29 2011 | 11:59am ET
The Man Group's top executives used a swoon in the hedge fund manager's share price to boost their own holdings.
Man shares plummeted more than 20% yesterday after the firm announced that investors had yanked US$2.6 billion in assets in the third quarter and that its assets under management had fallen US$6 billion to US$65 billion. Man's leaders were certainly unhappy with that news, but they also smelled an opportunity—either to pick up Man shares on the cheap or to inject a little confidence into the firm.
The firm's three top executives, CEO Peter Clarke, finance director Kevin Hayes and chief operating officer Emmanuel Roman, each dropped about US$138,000 to buy up 150,000 shares, Reuters reports. Ruud Hendricks, a non-executive director, bought 100,000 shares himself for US$277,000.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.