Saturday, 28 March 2015
Last updated 6 hours ago
Oct 5 2011 | 11:43am ET
Bridgewater Associates, the world's largest hedge fund, will outsource its back-office functions, hiring the Bank of New York Mellon to handle the job.
Under the plan, outlined in a layoff notice with the Connecticut Department of Labor, 91 Bridgewater employees will move to BNY Mellon, where they will continue to handle Bridgewater's back office. The 91 will remain in Bridgewater's hometown of Westport, Conn.
"Bridgewater is transitioning certain back-office functions to a third-party partner," A Bridgewater spokesman said. "In conjunction with that transition, 91 employees will now be employed by the outsource partner, but retain their jobs in Westport."
Among those being transferred to BNY Mellon are software developers, risk and business analysts, administrators and accountants. Bridgewater is still looking to file 18 open jobs for the group, jobs that will move to BNY Mellon.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…