Tuesday, 23 September 2014
Last updated 1 hour ago
Nov 8 2011 | 9:57am ET
The New Star Asset Management bullying trial opened yesterday in London with a lawyer for former New Star manager Patrick Evershed accusing the hedge fund's founder, John Duffield, of creating "an atmosphere of intimidation and humiliation."
Evershed sued New Star, which was acquired by Henderson Global Investors in 2009, three years ago, accusing Duffield of "humiliating conduct." He had complained to New Star's human resources department, but was suspended for it, he alleged.
Duffield "Called the fund managers morons and criminals" and created "a very unpleasant environment," Evershed's lawyer, Daphne Romney, said on the first day of the 10-day trial at a London employment tribunal.
Evershed, who now works at Hargreave Hale, has accused New Star of unfair dismissal. He has also filed a whistleblowing claim, aiming to increase his potential payout; most unfair dismissal claims are capped at £65,000.
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.